In an interview, Luiz Carlos Trabuco Cappi indicated there would be changes in the board of directors at Bradesco. To begin with, Luiz Carlos Trabuco Cappi is the current president of the executive board of Banco Bradesco SA. He will be leaving this positions as moves to take the chairmanship role following the resignation of Lazaro de Mello Brandao from the role. Brandao handed in his resignation after serving for 27 years as the chairman of the board. He has been working at Bradesco for more than seven decades and says his family welcomed his resignation, stating it is long overdue.
Bradesco’s Succession Race
Given that Luiz Carlos Trabuco Cappi has to move from his current role, a succession race has been put in place at Bradesco. Luiz Carlos Trabuco Cappi indicates the next president of the executive board will be chosen in-house as is the tradition at Bradesco. During his time at the helm of the company, Brandao fostered a culture of always looking in-house when doing promotions to top executive positions in the organization according to g1.globo.com. A new CEO will, therefore, be chosen from the bank’s current seven vice presidents. These vice presidents include Alexandre da Silva Gluher (57), Octavio de Lazari (54), André Rodrigues Cano (59), Mauricio Machado de Minas (58), Domingos Figueiredo Abreu (58), Marcelo de Araujo Noronha (52), and Domingos Figueiredo Abreu (58). As Luiz Carlos Trabuco Cappi also exits his role as the vice president of the board, his position will be taken over by Carlos Alberto Rodrigues Guilherme. All these changes are necessary since Bradesco is a large, complex, and segmented organization. However, Luiz Carlos Trabuco Cappi will have to act as both the CEO and chairman of the company until March 2018 when the bank’s first shareholders assembly for the year will be held. This is in accordance with regulations from the Central Bank which indicate that the name of a new president must be handed in 30 days before the shareholders assembly.
Read more: O Bradesco, de Brandão a Trabuco
Brandao’s Succession Plan
Brandao indicates that the succession plan at the bank had been in the offing for quite some time. Before exiting his chairmanship role, he had to change the rules to allow Luiz Carlos Trabuco Cappi to exit his CEO role at the bank at the age of 67 instead of 65. This was to ensure tranquility during the transition period. The extension period also helped in maintaining the process of integrating HSBC into Bradesco, having been bought by the firm in 2015. To also ensure that the new leadership at the bank takes over smoothly, Brandao indicates that Bradesco should extend its board of directors. He, however, cautions that this extension should not take part during the meeting in March. The meeting should only fill in the vacancy position.
Career History of Bradesco’s New Chairman
Luiz Carlos Trabuco Cappi started his banking career at 18 in 1969. He pursued his studies at the Faculty of Philosophy, Sciences and Letters of Sao Paulo and the Fundação School of Sociology and Politics, São Paulo. He has risen through the ranks at Bradesco over the years by taking up a director role in 1984, becoming a vice president in 1999, and taking up the CEO role at Bradesco Seguros Group in 2003. In 2009, he was promoted to the role of CEO of the Bradesco Organization companies. Luiz Carlos Trabuco Cappi has honed his leadership and business knowledge and skills in the banking sector by taking up different roles throughout his career. He has served with organizations such as the National Association of Private Pensions, Bradesco Vida e Previdencia, Odontoprev SA, and the Insurance Group, among others. He currently also serves in organizations such as the Strategic Committee of Vale SA, the Confederation of Financial Institutions (CNF), and Elo Participacoes SA.
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