StoneCo Ltd. Announces New Independent Member of Board of Directors and Audit Committee
July 05 2019 - 5:24PM
StoneCo Ltd. (NASDAQ: STNE) (“
Stone”) announced
that pursuant to written resolutions of its Board of Directors
dated June 27, 2019, Mr. Silvio José Morais was appointed to the
Board of Directors, effective immediately, and at the same meeting,
elected to the Audit Committee. Mr. Morais is independent under the
applicable rules and regulations of the Securities and Exchange
Commission (the “
SEC”) and the listing standards
of the Nasdaq Stock Market.
Prior to joining the board of directors of
Stone, Mr. Morais served as Controller at Ambev S.A. from 1998 to
2019, where he was responsible for the Financial Reporting,
Internal Controls, Pension Plan and Direct Tax functions. Between
1988 and 1998, he held various other positions at Ambev S.A.
Between 2008 and 2019 he also served as an officer at IAPP –
Instituto Ambev de Previdencia Privada, and has been a board member
since March 2019. Mr. Morais is also a board member, a position he
has held since 2017, and an executive director, a position he has
held since 2018, of Fundação Antonio e Helena Zerrenner. Since May
2019 he is board member at Falconi Participações S.A., the entity
which controls Falconi Consultoria, a consultant firm specialized
in management. Additionally, between May 2018 and April 2019 he
served as an alternate member of ITAUSA’s board of directors. Mr.
Morais received a degree in business management at FACE-PR, a
postgraduate degree in Finance at FAE Business School, and an MBA
in Controllership from Fipecafi – USP.
With Mr. Morais’s appointment, Stone’s current
Board members are Mr. André Street, Mr. Eduardo Cunha Monnerat
Solon de Pontes and Mr. Thomas A. Patterson and the independent
members Mr. Ali Mazanderani, Mr. Roberto Moses Thompson Motta and
Mr. Morais (“Independent Members”). The Audit
Committee consists of three members, namely the Independent
Members, who satisfy the criteria of audit committee financial
expert as set forth under the applicable rules of the SEC.
About Stone:
Stone is a leading provider of financial
technology solutions that empower merchants to conduct commerce
seamlessly across multiple channels and help them grow their
business over time through technology.
Contact:
ICR, Inc.+1 646-277-1200 StoneIR@icrinc.com
Source: StoneCo Ltd.
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