Arco Announces Changes to its Board of Directors
August 09 2021 - 6:56PM
Business Wire
Arco Platform Limited, or Arco (Nasdaq: ARCE), announces
that Mr. Pablo Doberti, board member since August 2019, and
Mr. David Peixoto, board member since August 2020, have
submitted their resignation letters as members of the Board of
Directors and, consequently, as members of the Audit Committee,
effective as of today.
The announcement is part of a renewal process initiated in the
beginning of the year to promote new insights on the business
environments and the Company’s strategy.
“The Board of Directors and myself would like to extend our
warmest thanks to Mr. Doberti and Mr. Peixoto for the significant
contribution they have made to Arco’s mission during their period
of office,” said Ari de Sá Neto, Arco’s founder and Chief Executive
Officer.
Arco’s Board of Directors is now composed of three members of
the controlling family, including its non-executive Chairman and
its CEO, and five independent members, resulting in a diversity of
skills and experience to enhance Arco’s decision-making and
accelerate its mission of delivering high quality education at
scale:
Name
Position
Oto Brasil de Sá Cavalcante
Chairman
Ari de Sá Cavalcante Neto
Director
Paula Soares de Sá Cavalcante
Director
Beatriz Amary
Independent Director
Carla Schmitzberger
Independent Director
Edward Ruiz
Independent Director*
Martin Escobari
Independent Director
Stelleo Tolda
Independent Director
* Member of Arco’s Audit Committee.
About Arco Platform Limited (Nasdaq: ARCE)
Arco has empowered hundreds of thousands of students to rewrite
their futures through education. Our data-driven learning
methodology, proprietary adaptable curriculum, interactive hybrid
content, and high-quality pedagogical services allow students to
personalize their learning experience with while enabling schools
to thrive.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the U.S. federal securities laws. Statements
contained herein that are not clearly historical in nature are
forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” “may,” or similar
expressions are generally intended to identify forward-looking
statements. These forward-looking statements speak only as of the
date hereof and are based on Arco’s current plans, estimates of
future events, expectations and trends that affect or may affect
our business, financial condition, results of operations, cash
flow, liquidity, prospects and the trading price of Arco’s Class A
common shares, and are subject to several known and unknown
uncertainties and risks, many of which are beyond Arco’s control.
Therefore, current plans, anticipated actions and future financial
position and results of operations may differ significantly from
those expressed in any forward-looking statements in this press
release. You are cautioned not to unduly rely on such
forward-looking statements when evaluating the information
presented. Arco does not undertake any obligation to update
publicly or to revise any forward-looking statements after we
distribute this press release because of new information, future
events or other factors.
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Investor Relations Contact Arco Platform Limited
IR@arcoeducacao.com.br
Carina Carreira carinacarreira@arcoeducacao.com.br
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