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Board Members

The Board of Directors is comprised of up to 14 members, most of whom are independent. They are elected at the shareholders’ meeting, and receive a two-year mandate with the possibility of reelection. The Board’s main functions are to define the strategy of the Company, approve the annual budget, and ensure its proper implementation. It also decides when to convene the shareholders’ meeting, how to allocate profits, conduct elections, remove and monitor the Executive Directors and select the independent auditors.

The shareholders’ meeting is held every two months, and extraordinarily, whenever necessary.

Below you will find the composition of B3 Board of Directors:

 
Pedro Pullen Parente
Chairman of the board (Independent Director)

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Parente starts his career in public service at Banco do Brasil in 1971, he was transferred to the Central Bank in 1973, in both cases by public tender. He was a consultant to the International Monetary Fund and public institutions in the country, including Secretaries of State and the National Constituent Assembly of 1988, woring in various positions in the Government's economic area. He was Minister of State (1999-2002), and was the coordinator of the transition team of the Government of President Fernando Henrique Cardoso to President Lula. In this period, it was also relevant his performance as President of the Energy Crisis Management Chamber of 2001/2002. From 2003 to 2009, he was Executive Vice President (COO) of the RBS Group and from January 2010 to April 2014 he was the President and CEO of Bunge Brasil. He is currently President of Petróleo Brasileiro S.A. – Petrobrás and Licensed Partner of the Prada Group of consulting and financial advisory companies.

 
Antônio Carlos Quintella 
Vice-Chairman of the Board (Director)

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Quintella is the founding partner of Canvas Capital. He was Chairman of Credit Suisse Hedging-Griffo, headquartered in São Paulo (2012-14), and CEO of Credit Suisse Americas and member of the Executive Board of the Credit Suisse Group (2010-12) and CEO Credit Suisse Brazil (2003-10). He joined Credit Suisse in 1997, as Senior Relationship Banker of the Investment Banking division and was appointed CEO of the operations of Credit Suisse Brazil in 2003. As CEO of Credit Suisse Brazil he oversaw the expansion of the bank’s presence in that market, including the acquisition of Hedging-Griffo, in 2007. He is a member of the Board of Directors of Fundação OSESP and sits on the Deliberative Council of the Credit Suisse Hedging Griffo Institute, the Global Advisory Board of the London Business School and the International Advisory Board of the New York Philharmonic. He holds a degree in Economics from the Pontifical Catholic University of Rio de Janeiro and an MBA from the London Business School (University of London).

 
Denise Pauli Pavarina 
Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Ms. Pavarina holds a degree in Economics from Faculdade Armando Álvares Penteado - FAAP and in Law from Universidade Paulista - UNIP, with an Executive MBA in Finance from Instituto Insper. She began her career in March 1985 at Banco Bradesco de Investimento S.A., a financial institution that merged with Banco Bradesco S.A. in November 1992. At Bradesco, she held the positions of Underwriting Manager and Manager of the Managed Portfolio Department. In September 1996 she was promoted to the position of Executive Superintendent, being appointed Departmental Head in January 2001. In June 2006 she was appointed an Executive Officer of Banco Bradesco BBI S.A. and in January 2007, Departmental Manager, remaining until December 2009 when she returned to Bradesco and was appointed Departmental Head. In January 2012 she was appointed Deputy Executive Officer and, in February 2015, Managing Executive Officer, a position she currently holds. She is also a Managing Director of Bram - Bradesco Asset Management S.A. Distribuidora de Títulos e Valores Mobiliários, having previously held the position of Executive Superintendent. She is a member of the Steering Committee of Fundação Bradesco and Director of FIMADEN, a foundation institute devoted to the treatment of digestive system and nutrition disorders. In addition to these activities she is a director of 2bCapital S.A., an Investment Committee member at NEO Capital Mezanino, an equity fund, Member of the National Committee for Financial Education - CONEF, Member of the Council of Representatives of the National Confederation of Financial Institutions - CNF, Director of Instituto BRAiN – Brasil Investimentos & Negócios and an alternate Director of Sete Brasil Participações S.A. She was a Director of Cielo S.A., Bica de Pedra Industrial S.A., Companhia Siderúrgica Belgo-Mineira, CPM Braxis S.A., Latasa S.A. and São Paulo Alpargatas S.A., an alternate member of the Steering Committee of ABRASCA - the Brazilian Association of Publicly-listed Companies, Member of the Consultative Council of ANCORD – the National Association of Brokerage Houses and Securities Distributors, Foreign Exchange and Commodities, executive officer of UGB Participações S.A., and Institutional Relations Officer and Advisor to the Association of Capital Market Analysts and Investment Professionals - APIMEC São Paulo.

 
Eduardo Mazzilli de Vassimon  
Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Vassimon holds a degree in Economics from the School of Economics of the University of São Paulo - USP and in Business Administration from Fundação Getúlio Vargas, both completed in 1980, and a graduate degree from EAESP/FGV and École dês Hautes Études Commerciales – France in 1982. Since 2013 he has been an Executive Officer of Itaú Unibanco Holding S.A. and Executive Vice President of Itaú Unibanco S.A. He was Executive Vice President of Banco Itaú BBA S.A. from April 2003 to December 2008, in charge of the international, financial institutions, products and customer desk and treasury areas; Executive Officer of the International Area of Banco BBA-Creditanstalt S.A. from 1992 to 2003; Assistant Executive Officer, Foreign Exchange, at Banco BBA-Creditanstalt S.A from 1990 to 1991; and General manager for Foreign Exchange at Itaú Unibanco S.A. from 1980 to 1990.

 
Edgar da SIlva Ramos 
Independent Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Economist graduated from UFRJ, he also holds a graduate degree in Capital Markets from FGV - Rio de Janeiro. He started his professional career in 1971 as a fixed income trader with M. Marcello Leite Barbosa CCVM. He was the managing partner of Stock DTVM, Patente Corretora and Lecca DTVM, between 1981 and 1986. In 1987, he founded Senior DTVM (currently Ágora CTVM S.A.). His participation in stock exchanges and associations include: President of CETIP – Custody and Settlement Chamber, appointed as a permanent member by the Company’s associates and temporarily holding the position of General Manager in 2008; Director and President of ANDIMA – National Association of Financial Market Institutions (from 1994 to 2009); Board of Directors of Bolsa de Valores do Rio de Janeiro – BVRJ (from 2002 to 2011); Board of Directors of the National Confederation of Financial Institutions - CNF (de 2000 a 2005); Board of Directors of Bolsa de Mercadorias e Futuros - BM&F (from 1995 to 2002); and Board of Directors of Bolsa de Valores de Santos (from 1998 to 2000). His has been a shareholder of XP Investimentos since 2015. On May 8, 2009, he was elected Chairman of CETIP’s Board of Directors.

 
Florian Bartunek
Independent Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Founding partner and CEO of Constellation Asset Management. Before founding Constellation, he was a partner and executive officer of Banco Pactual, where he was head of research, proprietary trader, head of Asset Management and manager of the bank’s funds and equity portfolios. Florian started his career at Banco Nacional in 1989. He holds a degree in Business Administration from Pontifical Catholic University – PUC Rio (1990). Florian attended the Harvard Business School-YPO program from 2010 to 2016 and completed the Value Investing course at Columbia University (2013), the Executive Program at Singularity University (2015) and the Behavioral Finance Program at Harvard Kennedy School (2016). He was a lecturer the Value Investing course at IBMEC-SP (currently Insper), president of the São Paulo Chapter of YPO (Young Presidents Organization) and international director at ANBID. Florian is vice-president of Instituto ProA and seats on the board of directors of Fundação Lemann, Fundação Estudar, Somos Educação and Nova Escola magazine.

 
Guilherme Affonso Ferreira 
Independent Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Member of the Board of Directors of Petrobras since April 2015 and Chairman of the Financial committee of the same company, member of the Board of Directors of Sul América since 2010 and member of its Compensation Committee, member of the Board of Directors of Valid since 2012, member of the Board of Directors of Arezzo since 2013 and Chairman of its Audit Committee, member of the Board of Directors of Gafisa since 2011 and member of its Governance Committee, and also member of the Board of Directors of Time for Fun. He has been a partner/manager of Teorema Gestão de Ativos since 1988. He is also a member of the Board of Directors of charities such as Instituto de Cidadania Empresarial, Esporte Solidário and Sitawi, in addition to being a Director of Sociedade Harmonia de Tênis. He holds a degree in Production Engineering from Polytechnic School - USP, and also attended Economics and Politics programs at Macalester College in the USA, in addition to a continuing education program at James Cook University in Australia.

 
José de Menezes Berenguer Neto 
director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Berenguer Neto obtained a Bachelor’s Degree in Law in 1989 from the Pontifical Catholic University of São Paulo. He was appointed President of JP Morgan in Brazil beginning April 1, 2013. He was CEO of Gávea Crédito Estruturado (project finance). From 2007 to 2012 he worked at Banco Santander S.A. as head of the Retail, Private Banking, Asset Management and Global Markets and Products areas, having been an effective member of the Executive Commission and, until September 2012, a director of Banco Santander in Brazil. Prior to his positions at Santander, between 2002 and 2007 he served as Executive Vice President in the Corporate segment at Banco ABN / Real, with direct responsibility for the Global Markets, Private Banking, Products, Finance and areas and the ALCO (Asset and Liability Committee). From 1999 to 2002 he served as an Executive Officer of Banco BBA S.A., with responsibility for: Balance Sheet Management, Gapping, Proprietary Trading. Was founder partner of Utor Investimentos-NY/São Paulo together with the GP Group. Between 1997 and 1998 he served as Co-Head of Emerging Markets and High Yield Fixed Income at ING Bank – New York, as a member of the Corporate and Investment Executive Committee, as well as a member of the Regional Management Committee of the Americas. Between 1994 and 1997 he was the officer responsible for the following segments: Head of Fixed Income, Equities Trading, Sales and Research at ING Barings Brazil. He was a member of the Boards of Gávea Investimentos S.A., FEBRABAN, ANBIMA, Fundação Brasileira de Proteção da Juventude e Infância and the Emerging Markets Traders Association. He currently is President of JP Morgan in Brazil, Director of Central de Exposição de Derivativos, of New Ventures Brasil, and the Akatu Institute. 

 
José Roberto de Machado Filho
Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

He holds a Bachelor’s degree in Electric Engineering from the Faculdade de Engenharia Industrial (FEI) in São Paulo and Master’s degree in Business Administration, Economics and Finance from the University of São Paulo. He was an engineer at Keumkang Limited from 1990 to 1991, foreign exchange manager from 1992 and 1995 and trading desk manager of emerging markets from 1992 to 1996 at Banco CCF Brasil S.A. He was also an executive officer of Banco Rabobank Internacional Brasil S.A. from 1998 to 2003 (financial sector) and an executive officer at Banco Real from 2003 to 2009 (financial sector). Currently, he is responsible for the Individuals Business area of Banco Santander. He is also an executiv e officer at Banco Bandepe S.A. (the company is part of the Issuer’s economic group) and member of the Board of Directors of Zurich Santander Brasil Seguros e Previdência S.A., Zurich Santander Brasil Seguros S.A., Super Pagamentos e Administração de Meios Eletrônicos (the company is part of the Issuer’s economic group) and CETIP.

 
Laércio José de Lucena Cosentino
Independent Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

In the last 5 years, Mr. Cosentino acted as the TOTVS Chairman and TOTVS CEO. Previously, he was director of SIGA, between 1978 and 1983, and founded the TOTVS in 1983, acting as partner manager. Mr. Cosentino is the author of “Dbase II and III”, “Windows”, “Brazil is not Risk, it is Opportunity” and “Genoma Enterprise” and is currently President of Endeavor Board of Directors. He is graduated in Electric Engineering by Escola Politécnica de Engenharia da Universidade de São Paulo.

 
Luiz Antonio de Sampaio Campos  
Independent Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Sampaio Campos is a lawyer specializing in Corporate Law, founding partner of law firm Barbosa Müssnich & Aragão - Advogados. He was a Director of the Brazilian Securities Commission from 2001 to 2004. He was member of the Board of Directors and Fiscal Council of private and public companies. Integrated the Regulatory Comission of Bolsa Mercantil de Futuros (BM&F). Is part of the Capital Market Comission of the Brazilian Corporate Gorvernance Institute (IBGC). He was Professor at Fundação Getulio Vargas. Author of several articles and collective works in the area of law. He currently is founding partner of Barbosa Müssnich & Aragão – Advogados.

 
Luiz Fernando Figueiredo  
Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Figueiredo is a business administrator specializing in Finance from Fundação Armando Álvares Penteado (FAAP), having been a professor on that institution’s MBA Program. He is co-founder and Lead Managing Partner at Mauá Sekular Investimentos and currently serves as a Director of the Association of Brazilian Capital and Financial Market Entities (ANBIMA). In the past he has served as Director of Grupo Pão de Açúcar, President of the Association of Capital Market Investors (Brazilian acronym, AMEC) and a Director of Industry Romi. He was founding partner of Gávea Investimentos, and partner and Treasury Officer of Banco BBA. Between 1999 and 2003 he was Monetary Policy Director of the Central Bank of Brazil. He has also held managerial positions at Banco Nacional, JP Morgan and local brokerage houses in the trading, foreign exchange, commodities and variable income functions.

 
Luiz Nelson Guedes de Carvalho 
Independent Director

Election date: 04.2017 / Term of office: until 2019 Annual Meeting

Mr. Carvalho has a doctorate in Accounting and Controllership from FEA-USP, where he lectures. He is specialist in litigation concerning Corporate and International Accounting, Risk Management and Auditing. He is a member of Boards of Directors and of the Audit Committees of Public Companies and is a member of the Brazilian Accounting Pronouncements Committee (CPC). He was awarded by the Conselho Regional de Contabilidade do Estado de São Paulo (CRC SP) accounting body with the medal “Hilário Franco” and by the Fundação Escola de Comércio Álvares Penteado (FECAP) business school with the “Doutor Honoris Causa” title. He was chairman of the SAC Advisory Council to IASB (2005-2008), an independent auditor (1965-1990), Commissioner of the Securities and Exchange Commission of Brazil (CVM) (1990-1991) and a Governor at the Central Bank of Brazil (1991-1993).

 

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