Carlos Piani, currently the chairman of Equatorial Group, is expected to be appointed as the new CEO of Sabesp, the São Paulo state-owned water and sanitation company, according to sources familiar with the matter, reports InfoMoney.
This move follows Equatorial Group's acquisition of a 15% stake in Sabesp for BRL 6.9 billion last month, making it the company's primary shareholder.
Piani's nomination still requires approval from Sabesp's board and shareholders. However, insiders believe that his confirmation is highly likely, and he is expected to take on the role in October.
At 51 years old, Piani brings a wealth of experience to Sabesp. He currently serves on the boards of several companies, including Vibra Energia, Ambipar, and Hapvida. His past roles include CEO of PDG Realty, CEO of Kraft Heinz Canada, and partner at Vinci Partners. He also led Cemar (Equatorial Energia Maranhão), where he successfully expanded electricity coverage with the help of the "Luz para Todos" program.
As Piani steps into his new role, he will face the challenge of meeting the São Paulo state government's accelerated timeline for universal sanitation coverage, now set for 2029 instead of 2033. This ambitious goal aims to provide water and sanitation services to the approximately 20% of the population currently without them. Achieving this target will require an estimated BRL 70 billion, which is expected to come from Sabesp's cash flow, market financing, and productivity improvements.
