Post Office CEO resigns amid financial crisis and political pressure

The president of the Brazilian Post and Telegraph Company (ECT), Fabiano Silva dos Santos , handed in his resignation letter to the Planalto Palace this Friday, the 4th, pressured by a financial crisis that has been worsening since last year . Heading the state-owned company since the beginning of 2023, Fabiano leaves the position amid a scenario of billion-dollar losses and demands for more effective management measures.

In 2024, Correios recorded a loss of R$2.6 billion , four times greater than that recorded in the previous year. The company's financial situation worsened in 2025: in the first three months of the year alone, the loss was already R$1.6 billion.

The performance has been attributed to a combination of falling revenues and a steady increase in expenses, as well as criticism of the current administration's slowness in implementing adjustments. Fabiano Silva, a lawyer specializing in supplementary pensions and a member of the Prerrogativas legal group, has been the target of increasing pressure from within and outside the government.

Recently, the administration announced a plan to sell real estate and a voluntary redundancy program, in addition to launching a marketplace in partnership with Infracommerce , in an attempt to diversify revenue. However, sources at the Planalto Palace believe that the measures were implemented too late and would no longer be enough to reverse the situation, according to CNN .

Fabiano's departure also opens the door to political disputes. The leadership of the state-owned company is the target of interest from União Brasil, the party that already controls the Ministry of Communications, the ministry to which Correios is subordinate. The party's nominations to the government are coordinated by the president of the Senate, Davi Alcolumbre (União-AP), who should directly influence the choice of the next leader of the state-owned company.

Terra contacted Correios for a statement, but received no response.