Paulo Cunha, who presided over Grupo Ultra, dies at 82

Died in the early hours of Sunday (3), in Rio de Janeiro, businessman Paulo Cunha, former president of Grupo Ultra (Ultragaz and the Ipiranga chain) and considered one of the main industrial leaders in the country. He was 82 years old.

Paulo Guilherme Aguiar Cunha was born on March 1, 1940. The son of a military father and a primary school teacher, he studied engineering at PUC-Rio.

In the early 1960s, he joined Petrobras, after being approved in a public tender. At the company, among other activities, he coordinated the training course for engineers and the project for the ammonia and urea plant in Camaçari (BA).

The executive began his career at Grupo Ultra in 1967, at the invitation of Pery Igel, where he led the implementation of Oxiteno (a chemical company, which he presided until 1992). He also served as president of Ultrapar between 1981 and 2006, being responsible for the restructuring of the group and, later, for the opening of its capital in 1999.

In a note, the group recalled that, throughout his professional career, Cunha had intense institutional activity, presiding over entities such as the Iedi (Instituto de Estudos para o Desenvolvimento Industrial), which he had helped to found, the IBP (Instituto Brasileiro de Petróleo e Gás ) and Abiquim (Brazilian Chemical Industry Association).

A member of the National Monetary Council, during the Collor government, Cunha was one of the creators of the tripartite model, “which contributed to the country’s rapid industrialization, forming alliances between the private sector, public companies and foreign partners, the company lists.

​In 2006, he left the executive presidency of the group, starting to dedicate himself exclusively to the presidency of the board of directors. In addition, he developed a series of social projects in the area of ​​education.

Ultra operates in the distribution of liquid fuels (with Ipiranga), distribution of LP gas (Ultragaz) and storage of liquid bulk (Ultracargo). In 2021, the number of employees reached 14,408.

Last year, Grupo Ultra confirmed the sale of Oxiteno to Thailand’s Indorama Ventures. The group also recently sold Extrafarma to competitor Pague Menos. With the operations, the company intended to focus its business on the oil and gas sector.

The group recorded net profit attributable to shareholders of R$ 380.2 million in the fourth quarter of last year. The result represents a drop of 10.8% in the annual comparison.

Cunha chaired Ultrapar’s board of directors until 2018. “The executive leaves a legacy of ethics, long-term vision, austerity in personal and professional life, respect for people, entrepreneurship and appreciation of technological innovation. A great loss for Grupo Ultra and for the country”, follows the company’s note.

The businessman became known for adopting a nationalist vision and was an important figure in the discussion on industrial development.

In an interview with Sheet, in November 2011, he stated that Brazil needed a broad national project and that the industry should produce items with technology and greater added value. “It is necessary to build this industry to integrate Brazil in the world at this level. The basic industry is investing little in innovation and expansion.”

On the occasion, he also stressed that the country’s deindustrialization process was intense, but that it could be reversed. “But the reversal is not instantaneous and there is no miracle in sight. The competitiveness of the industry depends on the country’s competitiveness. Today the country’s structure is not competitive.”

“Before, there was sympathy for the industry. There was vibration when a Volkswagen piston was nationalized. Just walk through São Bernardo [do Campo] to see all the good that the industry has done there. But awareness of the industry’s importance was lost. It was diluted in the image of the military regime, due to the proximity between government and companies”, he said at the time.

In an article published in the Brazil Journal, Pedro Wongtschowski, current chairman of the board, recalled that Cunha led Ultrapar during its most aggressive growth phase, with the purchase of all the shares of Oxiteno. “Paulo transformed the group —once again— with the purchase of Ipiranga and Texaco, converting Ultra into a powerhouse in fuel distribution.”

“Paulo Cunha leaves a legacy of ethics, long-term vision, austerity in personal and professional life, appreciation of people and industrial activity”, he continues.

The cause of death was not disclosed.