Board of Directors, Management and Committees

Diretoria

Board of Executive Officers

It is liable for managing Valid‘s businesses and for implementing the general policies and targets defined by the Board of Directors, which elects the officers for a two-year term of office, and reelection and removal from office are possible.

Name Position Years at Valid Term of Office until
Carlos Affonso Seigneur d’ Albuquerque CEO 21 1st BDM after OSM of 2020
Mr. Carlos Affonso holds a bachelor’s degree in Economics from PUC-RJ, a specialization degree in Advanced Management from Harvard Business School and an MBA in Finance and Business Management from Brazilian renowned institutions like IBMEC-RJ and Coppead-UFRJ. Mr. d’Albuquerque has been serving as the Company’s CEO since May 2015. He joined the Company in 1996, served as Treasury Manager in 1999 and as Investor Relations Manager after the IPO, from April 2006 to July 2007. In 2010, he served as Chief Financial and Investor Relations Officer. He is currently a board member of Cubic Telecom e Agrotopus Soluções.
He is not a member of the management of any other company under the same control of the Company and, in the last five years, he has no criminal conviction, conviction in CVM’s administrative proceeding or final conviction, in the judicial or administrative sphere, that suspended or disqualified the practice of professional or commercial activities.
Rita Cristiane Ribeiro Carvalho CFO and IRO 13 1st BDM after OSM of 2020
Mrs. Rita Cristiane Ribeiro Carvalho has a degree in Business Administration, with a specialization degree in Finance from FGV – RS and in Business Management from the Foundation of the Administrators of Rio Grande do Sul. She joined the Company in 2005 as a Financial Analyst and currently worked as Financial and Investor Relations Superintendent. Throughout these years, she was part of several key projects, committing herself to the values of the organization, always seeking to work towards Valid‘s business development. In July 2017, Mrs. Carvalho became the CFO and IRO of the Company.
She is not a member of the management of any other company under the same control of the Company and, in the last five years, he has no criminal conviction, conviction in CVM’s administrative proceeding or final conviction, in the judicial or administrative sphere, that suspended or disqualified the practice of professional or commercial activities.
Marcello dos Santos Ribeiro Identification Officer 35 1st BDM after OSM of 2020
Mr. Marcello dos Santos Ribeiro has a degree in Data Processing from the University Nuno Lisboa. He joined the Company in 1986 in the position of Systems Support Analyst and, until May 2018, he occupied the position Identification Superintendent. Throughout these years, he was part of several key projects, committing herself to the valuesof the organization, always seeking to work towards Valid’s business development. In May 2018 Mr. Ribeiro took over the position of Identification Officer of the Company.
He is not a member of the management of any other company under the same control of the Company and, in the last five years, he has no criminal conviction, conviction in CVM’s administrative proceeding or final conviction, in the judicial or administrative sphere, that suspended or disqualified the practice of professional or commercial activities.
Daniel Impieri Industrial Officer 18 1st BDM after OSM of 2020
Mr. Impier has a degree in Mechanical Production Engineering from Rio de Janeiro State University (UERJ), an MBA in Business Administration with an emphasis on Marketing from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and an Executive MBA from IBMEC/INSPER-SP. He has been a member of the Valid team for 17 years during which time he helped the Company rise to its current level, being responsible for the integration of the printing firm Menno in Erechim and Valid USA, and the installation of the Smart Bank Card, SIM Card and Contactless Card factories, as well as certain factory migrations. In June 2015, he was appointed Global Chief Operating Officer.
He is not a member of the management of any other company under the same control of the Company and, in the last five years, he has no criminal conviction, conviction in CVM’s administrative proceeding or final conviction, in the judicial or administrative sphere, that suspended or disqualified the practice of professional or commercial activities.
Patricia Piñeiro de Souza Human Resources Officer 13 1st BDM after OSM of 2020
Ms. Souza has a degree in Psychology from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ), as well as an MBA in Human Resources, and has more than 20 years of experience in the HR area in national and international companies, such as Valid and Marcopolo. She joined the Company in 2005, where she occupied the post of HR Supervisor for five years, followed by two years as HR Manager. In 2012, she took over the HR and Services division, being responsible for the HR, Personnel Management, Facilities, Corporate Security, Internal Communications and System Management areas. In June, 2015 she became Human Resources and Services Officer, where her main challenges include designing policies in line with the corporate strategy, ensuring the feasibility of career planning by making full use of the abilities of the Company’s professionals, in order to ensure a successful succession plan, and strengthening the Company’s cultural identity, independently of geographical frontiers.
She is not a member of the management of any other company under the same control of the Company and, in the last five years, he has no criminal conviction, conviction in CVM’s administrative proceeding or final conviction, in the judicial or administrative sphere, that suspended or disqualified the practice of professional or commercial activities.

Conselho de Administração

Board of Directors

Valid’s Board of Directors is composed of seven members, five of which are independent and one of them is the chairman. This group’s principles are to maintain the company focused on its strategy, evaluate the market and competitors, collaborate with the company‘s growth and preserve the shareholders‘ interests.

Name Position Years in the Board Term of Office
Sidney Levy Chairman 20 2 years
Mr. Sidney Levy has a degree in Production Engineering (Universidade Federal do Rio de Janeiro – UFRJ), has a Master’s Degree in Engineering (Coordination of Graduate Programs in Engineering – COPPE-RJ) and a Specialization in Management (Institute of Management Development em Lausanne – Switzerland). He held the position of CEO of Valid S.A. from 1994 to 2011, when he became Chairman of the Board of Directors. From 1992 to 1994 he was the CEO of DLR Lerchundi in Spain. He worked at Thomas de La Rue in Brazil and England from 1981 to 1991. He was the Chairman of the American Chamber of Commerce of Rio de Janeiro between 2005 and 2007. He was a member of the Board of Directors of several companies between 2007 and 2012. He was the Managing Director of Rio2016, Organizing Committee of the Olympic and Paralympic Games from 2013 to 2016. Bestowed with the Medal of Peacemaker by the Brazilian Army. He is currently Chairman of the Board of Directors of Valid S.A., an independent member of the Board of Directors of Instituto Hermes Pardini S.A., and Chairman of the Board of Directors of the philanthropic organization Instituto Reditus.
Marcílio Marques Moreira Board member 20 2 years
Mr. Marcílio Marques has a degree in Diplomacy (Instituto Rio Branco), in Law (Universidade do Estado do Rio de Janeiro – UERJ) and a Master’s Degree in Political Science (Georgetown University, Washington, DC). He has extensive experience in the private and public sectors, having been the 3rd Secretary in the Ministry of Foreign Affairs (1954-1957) at the Brazilian Embassy in Washington, DC. (1957-1963), in the Office of the Minister of Finance (1963) and in the Department of International Operations of Banco Nacional de Desenvolvimento Econômico e Social (BNDES) (1963-1965). He was Vice-President of COPEG – Companhia Progresso do Estado da Guanabara (1965-1968) and President of CODESCO – Companhia de Desenvolvimento de Comunidades –  State Government of Guanabara (1968). He later became Assistant Professor of UERJ (1968-1998), Vice President and member of the Board of Directors of Unibanco (1968-1986), Brazilian Ambassador to the United States Government in Washington (November 1986 to May 1991), State Minister of Economy, Finance and Planning (1991-1992), Senior International Consultant of Merrill Lynch & Co. (1994-2005), Chairman of the Commercial Association of Rio de Janeiro (2001-2005) and member of the Board of Directors of BRASILPAR, PREVER, NOVOTEL, Club Mediterranée, IBM, Coca-Cola, R.J.Reynolds, Hoechst, GE, Textron, Sendas Distribuidora (no longer exists), Embratel and was a member of the Public Ethics Committee of the Presidency of the Republic (2002-2008). Mr. Moreira is currently managing partner of Conjuntura e Contexto – Consultoria Empresarial, and member of the Board of Directors of Cia. Cataguazes-Leopoldina (Energisa), International Advisor of Marsh & McLennan Group of Companies and Member of the Board of Directors of Valid S.A.
Claudio Almeida Prado Board member 4 2 years
Mr. Claudio is an Electronic Engineer and Master in Computer Science, both by Escola Politécnica da Universidade de São Paulo, and he has been working in the Information Technology area for about 25 years. Claudio started his career as a researcher at the Laboratory of Integrable Systems at USP. He founded Pulso Tecnologia in 1989, a company that operates security solutions for the banking area (and developed the country’s first Internet Banking solution in 1994). He headed, from 2005 to 2011, all areas of support for Innovation and Software Development for direct and indirect channels of Banco ABN Real and (after) Grupo Santander, where he was CIO during the last 3 years. After having been a member of Deutsche Bank (2011/12) and in Grupo Abril (2012/16), he currently holds the position of Executive Officer of Grupo Fleury S.A. He routinely teaches and specializes in graduate courses in Information Technology and its use in collaboration and mobility networks. He was the Coordinator of Febraban’s Technology Group, leading the mobile payment research. Former member of the Board of Directors of Pulso and Fonet.
Henrique Bredda Board member 0 2 years
Mr. Henrique Bredda is a founding partner and variable income manager at Alaska Investments since 2015. Since 2017, he has been a member of the board of directors of Marcopolo S.A. Since 2016 he has been a member of the fiscal council of Log-In Logística Intermodal S.A. He was a partner of Venturestar Capital Management from 2013 to 2015 and a partner of Skipper Investimentos, where he worked as an analyst and variable income manager from 2010 to 2013. Analyst of variable income in Ashmore Brasil from 2009 to 2010. Worked at FVF Participações, from 2008 to 2009, as an equity analyst. From 2005 to 2008, he worked for the Spinnaker Capital Group, where he covered Latin American shares. He was also a credit analyst at Unibanco from 2003 to 2004 and worked in financial consulting in 2002. He has a degree in Naval and Oceanic Engineering (Escola Politécnica da Universidade de São Paulo).
Guilherme Affonso Ferreira Board member 0 2 years
Mr. Guilherme Affonso has three different degrees from three different institutions: Production Engineering (Escola Politécnica da Universidade de São Paulo); Economics and Politics (Macalester College in Minneapolis/USA); Beef Cattle in the Tropics (James Cook University in Townsville/Australia). He is currently a member of the Board of Directors and Chairman of the Audit and Finance Committee of Arezzo, member of the Board of Directors and Compensation Committee of Sulamérica, member of the Board of Directors and Compensation and Governance Committees of B3, member of the Board of Directors of T4F, Chairman of the Board of Directors and of the Governance Committee of Bahema. He has also been a Board Member of Petrobrás, Pão de Açucar, Coldex Frigor, Correa Ribeiro, Unibanco, Unibanco Holdings, Tavex, Eternit and Gafisa.
Fiamma Zarife Board member 0 2 years
Mrs. Fiamma Zarife has a degree in Advertising and Propaganda (UFF) and a degree in Public Relations (UERJ); she has a graduate degree in Marketing (PUC-RJ) and specialization degrees from Singularity University, MIT, Columbia Business School and Wharton School. She started his career at Petrobras Distribuidora in 1994. Between 1995 and 1999, she worked at Banco Boavista, where she coordinated the development of Internet Banking at the institution. In 1999, she joined ATL – Algar Telecom Leste and started a 15-year journey in telecommunications, working for TIMnet (2001), Oi (2001-2008), Claro (2008-2012) and Samsung (2013-2014). During this period, she worked in the areas of Value-Added Service and Innovation, responsible for launching solutions such as SMS, Mobile TV, Mobile Banking, Mobile Advertising and Broadband. At Samsung, she envisioned Samsung Ocean, fostering the training developers and the creation of startups. She currently holds the position of Managing Director of Twitter in Brazil, where she is responsible for developing the company’s business strategy in Brazil, coordinating its operations with brands, advertising agencies and content partners.
Mauricio Ribeiro de Menezes Board member 0 2 years
Mr. Maurício Menezes has a degree in Mechanical Engineering (Escola Politécnica da Universidade de São Paulo).  Current CEO of Interfile, company focused on providing back office services (BPO). He has held this position since 2014, working in the company since 2012, including in the positions of business manager and chief operating officer. He has previous experience of nearly 8 years in the emerging markets’ investment fund Spinnaker Capital, where he became the manager of the fund’s management control team and all operations processing. Previously, he had a brief career as a business analyst at Accenture. Between 2010 and 2012, he was a member of the Council of Even Construtora e Incorporadora S/A. He is currently a member of the Board of Directors of Log-in.

Conselho Fiscal

Fiscal Council

Valid’s Fiscal Council is a non-permanent body and may be installed by decision of the Shareholders’ Meeting or upon shareholders’ request, with the main duty of analyzing the Company’s Financial Statements. In 2012, the Company did not install a Fiscal Council. At the Extraordinary and Ordinary Shareholders‘ Meeting, the installation of the Fiscal Council was confirmed, upon request of shareholders representing more than 2% of the capital stock, pursuant to CVM Instruction 324 of January 19, 2000.

Name Position Date of Election Term of Office
William Cordeiro (Sitting Member) Fiscal Council Member 04/26/2019 1 year
Mr. William Cordeiro is a founding partner and variable income analyst at Alaska Investments since 2015. In 2014, he was a variable income analyst at Venturestar Capital Management. Since 2017, he has held fiscal positions with Marcopolo S.A. and with Randon S.A. Implementos e Participações. Since 2016, he works as an alternate member of the Fiscal Council of Log-In Logística Intermodal S.A. He also held the position of alternate member on the Fiscal Council of Rumo S.A. and Celesc S.A. He has a degree in Production Engineering (Universidade Federal de São Carlos).
Rodrigo Abud (Alternate Member) Fiscal Council Member 04/26/2019 1 year
Mr. Rodrigo Abud is a founding partner and business analyst at Alaska Investments since 2015. He has a degree in Business Management (Insper) and began his career in 2004 as a consultant at Nexia Villas Rodil. In 2005, he worked at Maxi Color and was founder and investment adviser at Proa Investimentos, where he worked until 2009. Then worked to the companies Advis and LAPB Gestão de Recursos.
Regis Lemos de Abreu (Sitting Member) Fiscal Council Member 04/26/2019 1 year
Mr. Regis Lemos de Abreu Filho is the Managing Partner of Tagus Investimentos and the manager responsible for its credit and stock funds. He worked as Senior Partner and CIO of Mercatto/Bozano Investimentos’ net funds for 15 years and was elected top Specialist Manager by Guia Exame (2006) and top Equity Fund Manager (2007). Regis begun his career in 1991 at Banco BMG. Between 1992 and 1996, he worked at MontrealBank and SRL, always in the investment’s management area. From 1996 to 2000, he worked for Banco Bozano, Simonsen as an investment manager in the Asset Management area and, subsequently, as the executive responsible for the management and analysis teams of the Bank’s own share portfolio, where he remained until Banco Bozano, Simonsen was sold to Banco Santander. Between 2000 and 2001, he was Head of Investment Management for Santander Brasil Asset Management (SBAM). Regis is currently vice-president of the Capital Market Investors Association (Amec). He was a member of Anbima’s Executive Board from 2007 to 2014. He holds a bachelor’s degree in Economics (UCAM – RJ).
Diogo Lisa Figueiredo (Alternate Member) Fiscal Council Member 04/26/2019 1 year
Mr. Diogo is a founding partner of Amazônia Capital, an investment analyst and fund manager. Previously, he was a partner and analyst at Rio Bravo Investimentos for 6 years and sales trader of variable income and derivatives at Ativa Corretora for 03 years. He graduated in Business Management (Fundação Getúlio Vargas – FGV) and is CFA-Certified.
Vanderlei da Rosa (Sitting Member) Fiscal Council Member 04/26/2019 1 year
Mr. Vanderlei has a degree in Accounting (Universidade Federal do Rio Grande do Sul) and specialization degrees in Capital Markets (Universidade Federal do Rio Grande do Sul) and Cost Accounting (Pontifícia Universidade Católica do Rio Grande do Sul). He has been a member of Fiscal Councils since 2000, and is currently a member of the Fiscal Council of Odontoprev S.A., Weg S.A., Equatorial Energia S.A., Centrais Elétricas do Pará S.A., Companhia Energética do Maranhão and Triunfo Participações e Investimentos S.A. He was a partner at HB Audit – Auditores Independentes S/S until July 2016, where he worked for over 25 years.
Murici dos Santos (Alternate Member) Fiscal Council Member 04/26/2019 1 year
Mr. Murici dos Santos is a lawyer, with a degree in Law (2007) and History (2002) both from Universidade de Guarulhos. He has a specialization degree in Corporate Law from FGV (2013/2014) and an update on Environmental Law from ESA-OAB. Chairman of the Prerogatives Committee and member of the Ethics Committee of the Brazilian Bar Association, Subsection 290 – Mairiporã/SP and Coordinator of Escola Superior da Advocacia (ESA), Subsection 290, Mairiporã/SP. He has been working as a corporate governance consultant since 2001, providing advisory and consulting services in the administrative, financial, corporate, tax and management areas in Boards of Directors and Fiscal Councils, working in the last years as a member of the Board of Directors and alternate member of the Fiscal Council of the companies: Tafibrás Participações S.A., Companhia Paranaense de Energia S.A, do Banco Nossa Caixa S.A.; Drogasil S.A.; Bicicletas Monark S.A.; M&G Poliéster S.A.; Santos Brasil S.A.; Medial Saúde S.A.; AES Tietê S.A., Têxtil Renauxview S.A; Guararapes Confecções S.A; Metalfrio Solutions S.A, among others. Currently, Mr. Murici dos Santos is an alternate member of the fiscal council of Rio Paranapanema S.A. (2014/2018), Tarpon Investimentos S.A (2016/2018); Profarma Distribuidora de produtos Farmacêuticos S.A. (2017/2018) Guararapes Confecções S.A (2018), Transmissora Aliança de Energia Elétrica S.A. (2018) and sitting member of the Fiscal Council of Valid Soluções S.A (2015/2018); Companhia Distribuidora de Gás do Rio de Janeiro – CEG (2017/2018) and Rossi Residencial S.A (2018).

 

Comitês

Committees

Audit Statutory Committee

Name Position Years in the Board Term of Office
Marcílio Marques Moreira Board member 18 2 years
Mr. Marcílio Marques holds a bachelor’s degree in Diplomacy from the Rio Branco Institution, in law from the State University of Rio de Janeiro (UERJ) and master’s degree in political sciences from the Georgetown University, Washington, D.C. Mr. Marques has an extensive experience in the private and public sectors and he was the 3rd Secretary of the Ministry of Foreign Affairs (1954-1957) at the Brazilian Embassy in Washington, D.C. (1957-1963), at the Cabinet of the Ministry of Treasury (1963) and at the International Operations Department of the Brazilian Development Bank (BNDES) (1963-1965). Mr. Marques was the vice president at COPEG – Companhia Progresso do Estado da Guanabara (1965-1968) and president of CODESCO – Community Development Company – State Government of Guanabara (1968). Subsequently, he was Assistant Professor at UERJ (1968-1998), vice chairman and member of the Board of Directors at Unibanco (1968-1986), Minister of the State of Economy, Treasury and Planning (1991 -1992), Senior International Consultant at Merrill Lynch & Co. (1994-2005), president of the Trade Association of Rio de Janeiro (2001-2005) and member of the Board of Directors at BRASILPAR, PREVER, NOVOTEL, Club Mediterranée, IBM, Coca-Cola, R.J.Reynolds, Hoechst, GE, Textron and Embratel. Currently, Mr. Moreira is a managing partner at Conjuntura e Contexto – Consultoria Empresarial, member of the Public Ethical Commission of the Presidency of Republic, member of the Board of Directors at Sendas Distribuidora e da Cia. Cataguazes-Leopoldina, advisory council member at Marsh & McLennan Group of Companies and member of the Board of Directors at Valid S.A.
André Luiz Oda Board member 1 2 years
Mr. Oda holds a bachelor’s degree in Mechatronics Engineering from the Polytechnical School of the University of São Paulo (POLI-USP), with master’s degree and PhD in Finance from the School of Economics, Business and Accounting of the University of São Paulo (FEA-USP), and Specialization in Entrepreneurship from the Harvard Business School. He was a professor of Finance and Entrepreneurship at FEA-USP from 2002 to 2007 and, for four times, he received the best score in the teaching evaluation of the Administration Department. He created and supervised the Investment Funds Guide of the Finance Laboratory of FEAUSP for 15 years. He teaches specialization and graduate courses in Finance at institutions such as FIA, FIPE, FIPECAFI, Insper and IBGC. He has 20 years of professional experience in the areas of strategy, corporate finance, asset management, valuation, mergers and acquisitions. He worked as the executive in charge of Ambipar Group’s professionalization process from 2010 to 2013 and has occupied the positions of Chief Financial Officer, Chief Executive Officer and Chairman of the Board of Directors. He received the awards of “Revelation in Finance” from the Brazilian Institute of Financial Executives in 2005 and “The Outstanding Young Person” of the Junior Chamber International (Chapter Brazil) in 2006. Author of “Performance of Equity Funds” and coauthor of “Financial Calculation of Treasuries”, “Credit – Risk Analysis and Assessment” and “Tests for Certification in Finance” and several scientific papers. He was the angel investor of 99Motos (now Rapiddo) and is currently managing partner of Bitcoin Market.
Claudio Almeida Prado Board member 2 2 years
Mr. Prado is electronic engineer and master in computer science, both from the Polytechnical School of the University of São Paulo and he has been working at the Information Technology area over the past 25 years. Mr. Prado started his career as a researcher at the Integration Systems Laboratory at the University of São Paulo. He founded Pulso Tecnologia in 1989, a company operating in security solutions for the banking sector (and developed Brazil’s first Internet Banking solution in 1994). Between 2005 and 2011, Mr. Prado directed all the area that supports the Software Innovation and Development for the direct and indirect channels of Banco ABN Real and (subsequently) of Santander Group, where he was the CIO during the last three years. After working for Deutsche Bank (2011-2012) and Abril Group (2012-2016), he currently holds the position of Chief Executive Officer of Grupo Fleury S.A. He frequently provides lectures, specialization and graduation courses in Information Technology and its utilization in collaboration and mobility networks. He coordinated Febraban Technology Group, leading the mobile payment research. Former member of the Board of Directors at Pulso and Fonet.

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Compensation Statutory Committee

Name Position Years in the Board Term of Office
Regis Lemos de Abreu Filho Board member 3 2 years
Mr. Regis Lemos de Abreu Filho is the Managing Partner of Tagus Investimentos and the manager responsible for its credit and stock funds. He worked as Senior Partner and CIO of Mercatto/Bozano Investimentos’ net funds for 15 years and was elected top Specialist Manager by Guia Exame (2006) and top Equity Fund Manager (2007). Mr. Abreu begun his career in 1991 at Banco BMG. Between 1992 and 1996, he worked at Montreal Bank and SRL, always in the investments management area.  From 1996 to 2000, he worked for Banco Bozano, Simonsen as an investment manager in the Asset Management area and, subsequently, as the executive responsible for the management and analysis teams of the Bank’s own share portfolio, where he remained until Banco Bozano, Simonsen was sold to Banco Santander.  Between 2000 and 2001, he was Head of Investment Management for Santander Brasil Asset Management (SBAM). Mr. Abreu is currently vice-president of the Capital Market Investors Association (Amec).  He was a member of Anbima’s Board of Executive Officers from 2007 to 2014. He holds a bachelor’s degree in Economics from the Candido Mendes University (UCAM) in Rio de Janeiro.
Bruno Constantino Alexandre dos Santos Board member 3 2 years
Mr. Santos holds a bachelor’s degree in Mechanical and Industrial Engineering from the Pontifical Catholic University of Rio de Janeiro. He holds an MBA in Corporate Finance from IBMEC. From 1997 to 1998, he worked as a trainee at the Esso Brasileira de Petróleo – EXXON GROUP. Between 1998 and 2000, he was Financial Analyst of Banco Icatu S/A, later in the position of Financial Analyst and Portfolio Manager at BTG Pactual and remained there from 2000 to 2010. From January to October 2010, he held the position of Portfolio Manager at Emerging Markets Management and is currently serving as executive partner at Graphus Capital.
Luiz Maurício Leuzinger Board member 9 2 years
Mr. Leuzinger holds a bachelor’s degree in Electrical Engineering from the National School of Engineering (currently UFRJ) and a master’s degree in Electrical Engineering from the Illinois Institute of Technology, Chicago, USA. He also completed the Economic Engineering course of the Illinois Institute of Technology and the Financial Management program of the Fundação Getúlio Vargas (FGV-RJ). From 2012 to 2015, he was the Chief Executive Officer of Bradespar S.A., where he also acted as Executive Officer (2003-2007) and Chief Technical Officer (2000-2003). He was the Chief Financial Officer of Nuclen – Nuclebrás Engenharia S.A. (currently Eletronuclear) between 1988 and 1990. He held several positions in the technical and financial areas of Furnas – Centrais Elétricas, where he acted as Financial Superintendent between 1983 and 1988. He has been a member of Valid’s Board of Directors since 2006 and is an alternate member of the Boards of Directors of Vale and Valepar. He was a member of the Boards of Directors of VBC Participações, VBC Energia, CPFL Energia, Companhia Paulista de Força e Luz, Companhia Piratininga de Força e Luz, CPFL Geração de Energia and RGE – Rio Grande Energia, where he was also Chief Executive Officer (1997-1998) and Chairman of the Board of Directors (2004-2006). He was a member of the Executive, Corporate Governance and Compensation Committees of CPFL Energia between 2004 and 2006 and a member of the Financial, Executive Development and Governance and Sustainability Committees of Vale S.A.

Click here for the Compensation Statutory Committee Regiment*