Luiz Carlos Trabuco Prepares To Give Up His Position As CEO Of Banco Bradesco
March 10, 2018
After 25 years serving as the chairman of Banco Bradesco SA, Lazaro de Mello Brandao, one of the oldest banking chairmen in the world at 91, elected to step down from his position. Shortly after announcing that he would step down, Brandao appointed Luiz Carlos Trabuco, the CEO of the bank, as his successor. Trabuco eagerly took the position, becoming the chairman as soon as Brandao stepped down. He will continue to serve as both CEO and chairman until Octavio de Lazari Jr. is appointed later this month.
Bradesco’s Board Restructures in Anticipation of Lazari’s Appointment
The board decided on Lazari as the new CEO in early February of this year. Currently, Lazari serves as vice president and will continue to do so until he is appointed as CEO. Additionally, he will maintain the position as president of the Bradesco Seguros group. Lazari has been working with Bradesco since the age of 15, almost 40 years ago according to economia.estadao.com.br.
Lazari will be appointed to his new position as CEO during the inaugural meeting of Banco Bradesco’s new Board of Directors. The company’s new board of directors will be referring to the appointment of Lazari as the new CEO. While the composition of the new board has yet to be finalized, which will happen during a shareholders meeting shortly before Lazari’s appointment, there have been a number of changes within the board already.
Read more: Bradesco anuncia Octavio Lazari no lugar de Luiz Carlos Trabuco
A number of new members have been appointed to the board, all of which have long and illustrious careers with Banco Bradesco according to vv. The four new members are Domingos Figueiredo de Abreu, Josué Augusto Pancini, Maurício Machado de Minas, and Alexandre da Silva Glüher. Over their careers with Bradesco, they’ve striven to advance the bank’s many operations, and have put its success before their own gains. Aside from the appointment of the four new vice presidents, there have been a number of other changes to the board, including the resignation of Aurelio Conrado Boni from the Bradesco Board of Directors according to g1.globo.com.
Luiz Carlos Trabuco
Following Chairman Brandao’s long-expected retirement, the position of chairman was almost immediately handed to Luiz Carlos Trabuco, who, at the time, was serving as Banco Bradesco’s chief executive officer. He had been serving as the bank’s CEO since 2009 when he was originally appointed to the position. Prior to becoming the chief executive officer, Luiz Carlos Trabuco served as a vice president with Bradesco. Until Lazari’s formal appointment as CEO on the 18th of this month, Luiz Carlos Trabuco will continue to perform the duties of CEO in addition to his duties as chairman.
Luiz Carlos Trabuco has been working with Banco Bradesco SA for the vast majority of his professional career, first joining the bank just barely under 50 years ago. His service with Bradesco has been of great benefit to the company, with many of the bank’s most successful operations being performed under him. His career with Bradesco has been long and his reputation within the company is one of renown. With the amount he’s done for Bradesco, it came as no surprise when he was announced as their new chairman.
Learn more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384