OEC, construction company of the Odebrecht group, appoints Marco Siqueira to the presidency

42-year-old architect has been leading the group's real estate development company for three years

São Paulo - 09/06/2020

In a decision made this morning by the board of directors, São Paulo native Marco Siqueira had his name approved to assume the presidency of OEC - Odebrecht Engineering & Construction. The 42-year-old executive, for the last three years ago, has been the leading executive at OR, the real estate development company of the Odebrecht group.

In the past seven months, since Fábio Januário left office, OEC has been run by a Strategy Committee coordinated by the vice president of the board, Juliana Baiardi, and also composed by a member of the company's board of directors, Daniel Villar.

The choice of Siqueira, among other attributes, as verified by Valor, was mainly due to his management in the OR financial restructuring process. The company's debt was reduced by 75%, leaving approximately R$ 1 billion for operational balance.

In addition, he implemented, with the support of external monitors, a new Compliance Program and delivered 20 real estate projects, sales of assets in excess of R$ 2 billion and resumption of residential project launches.

Siqueira has a degree in architecture and urbanism from the Fine Arts College in São Paulo and has a master's degree in Real Estate Development from the University of New York. He started his career 20 years ago in the development of retail real estate and shopping centers at Guararapes Group. In 2007, he joined Tishman Speyer, before joining Odebrecht in 2008.

Among the challenges at OEC, the executive will complete the construction company's financial restructuring, scheduled for the end of the year, and continue to resume its growth, with the attainment of new projects.

Today, OEC has contracts in seven countries: Brazil, Angola, Peru, the United States, Ghana, Panama and the Dominican Republic. Five years ago, the company, as well as the controlling group, was the target of the Federal Police's Lava Jato Operation resulting from irregular works at Petrobras.

Last year, OEC concluded seven projects, the largest in the private sector, and won new contracts worth R$ 1.34 billion. The year ended with a backlog (order book) of R$ 13.83 billion.