The news of the executive Lazaro de Mello Brandao leaving the office of the presidency of the Boards of Directors of Bradesco hit the market as a surprise. Although he would remain to be at the forefront of the holdings group, the announcement left a lot of speculation from the news announced by the company.
That decision led to a chain of similar choices, and with Brandao out of the Council, Luiz Carlos Trabuco held the position of the presidency but anticipates another change that could happen in 2019. The Chief executive officer, according to the Bank’s statute, the president should retire at 65 years, a year less than Trebuchet’s current age after he won a waiver until next year, which will not be fully exercised.
The new CEO of Bradesco will be chosen in March 2018. However, though, as the Conference announcement had it pointed out, the Trebuchet choice can happen before this date. He described that for the succession to occur specific processes must take place, and that by then the choosing had not taken place. To second his claims, the organization is vast and complex, segregated at the same time and the attributes also reflect on the selection of a professional that will succeed the current president.
Although the announcement of retirement from office came as a surprise, there was always a succession plan cultivated through the history of the firm. The analysts say they observed that the integration of HSBC Brazil is already over (regarding the inclusion of systems) and represented the final great design and acquisition of Trabuco.
Despite all the assuredness, the dispute is still ongoing among the rest of the six Vice Presidents of the institution. These are Sundays Figueiredo de Abreu, Vice President of Treasury and credit; Alexandre da Silva Glüher, investor relations officer; Marcelo de Araujo Noronha, responsible for millboard and investment bank. Others are André Rodrigues Cano, in charge of Human Resources; Joshua Augustus Pancini, Vice President responsible for all service network and by Prime and Octavio of Eduardo Barcelona Junior, President of Bradesco Seguros.
Some of the most experienced are Glüher, crucial in the integration of HSBC and one of the critical acquisitions in the history of the Bank, and Joshua Pancini, who is a long time Chair of Vice President. Theoretically, whom has more seniority would come out in front in the dispute. However, during the management Trebuchet, this criterion has less relevance.
The contest promises that everything will be hard to predict, but one thing is quite likely, says BofA: Trabuco will probably have a strong influence on the selection of a new CEO. Finally, we expect a somewhat integrated transition, for two primary reasons: 1) that Bradesco has talented individuals who occupied leadership positions in different areas of the group to assume the post of CEO and 2) the stable corporate governance structure of the Bank. But despite the quiet, the succession of Trebuchet is open! And the next steps must be watched closely by the market.
Luiz Carlos Trabuco has been the CEO of Bradesco Group since March 2009. Before that he served as the Managing Director of the firm, also serving as Vice President since 1999 March and departments director since 1984 to 1992. He started as a member of the Board of Directors since 1969.
Luiz Carlos Trabuco is a graduate of the School of Sociology and politics University, graduating from the faculty of philosophy, sciences, letters, and arts of the University of Sao Paulo. He serves as the CEO of Bradesco Seguros. With the company ushering in the campaign to see his replacement, the market should watch these moves closely.
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