By Brazil Stock Guide – Axia Energia, the Brazilian power company formerly known as Eletrobras, will begin a planned leadership transition on June 1, creating a temporary executive vice presidency for Élio Wolff while Chief Executive Officer Ivan Monteiro remains in the role until April 30, 2027.
The succession plan was announced by Axia Energia in a company statement. The company is traded on B3 under the tickers AXIA3, AXIA5 and AXIA6, after replacing the former Eletrobras tickers ELET3, ELET5 and ELET6; its New York Stock Exchange ticker is AXIA.
Monteiro, who turned 65 in November, will oversee a one-year transition at what the company describes as the largest renewable-energy company in the Southern Hemisphere. Wolff, currently vice president for strategy and business development, will lead the temporary executive vice presidency during the process.
Under the new structure, Wolff will oversee the company’s operational reporting lines, including operations and safety, engineering and projects, learning, people and services, energy trading and solutions, technology and innovation, and regulation, institutional affairs and market.
The finance and investor relations, legal and governance, and sustainability vice presidencies will continue to report directly to Monteiro during the transition. Once the process is completed, all vice presidencies will report to the new CEO, and the temporary executive vice presidency will be dissolved.
The reorganization also includes the elimination of the current strategy and business development vice presidency. Its functions will be redistributed across existing areas. Management, targets, processes and the project-management office will move to the learning, people and services division. Teams covering holdings and integration, valuation, new transmission businesses, new business and M&A, and strategy will report to the finance and investor relations vice president.
“The succession of leadership is one of the main responsibilities of the Board of Directors. We are starting this process by reaffirming the continuity of our strategy, strengthening the governance of collective decision-making, the model of a corporation, and doing so in an organized and predictable way,” said Vicente Falconi, chairman of Axia Energia’s board.
“Having Ivan and Élio’s leadership in this process is a privilege and also speaks to our capacity, as a company, to build teams, develop people and continue growing,” Falconi said.
Axia said the succession discussions were supported by an external consultancy hired to advise the company’s people committee on the structure of the transition. By the end of the process, Monteiro will have served almost four years as CEO, in addition to one year as chairman of the board.
The company said Monteiro’s tenure helped consolidate its transformation after privatization. Axia cited several measures, including an agreement to end a legal dispute over federal government representation on the board, the sale of Eletronuclear, the removal of obligations tied to possible investments in the Angra 3 nuclear project, the incorporation of Furnas, negotiations over collective-bargaining rules, a reduction in legal liabilities and the creation of an energy-trading division focused on different customer needs.
“The strategy to reduce the company’s risks, whether through the renegotiation of liabilities and legacy issues or through cost optimization and growing efficiency gains, transformed Axia Energia into one of the 10 largest Brazilian companies by market value. We migrated to B3’s Novo Mercado, a benchmark in governance, we will make record investments — 14 billion reais in 2026 — and we are a company that grows,” Monteiro said.
Wolff, 49, has worked at Axia Energia since 2022. He has an international career in energy, with a focus on new business, strategy and M&A. According to the company, he led the current strategic-planning process and the simplification of Axia’s corporate structure, including strategies for auctions and investee companies.
“Our challenge is to sustain a strategy that has already been proven and strengthen the company’s ability to adapt efficiently to a rapidly changing market. Safety of people and assets, innovation and investments that consistently generate value will be essential,” Wolff said.
The temporary leadership structure will take effect on June 1.