StoneCo Announces Transition in Leadership Roles – Thiago Piau to become Board Member and Pedro Zinner to become CEO
03 Novembro 2022 - 4:43PM
StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”), a leading
provider of financial services and software solutions for merchants
in Brazil, announced today that:
- Thiago Piau,
the current CEO, will become a Board member of the Company, where
he will focus his attention on developing key strategic and
financial initiatives to help drive the future expansion of
StoneCo.
- Pedro Zinner, a
current Board member of StoneCo, will step-down from the Board and
succeed Mr. Piau as CEO. Mr. Zinner will join Stone’s executive
team no later than March 31st, 2023 and will begin working closely
with Mr. Piau and the management team in a transition period before
taking on the CEO role.
Partner of Stone since 2013 and leading the
Company since the end of 2017, Mr. Piau has conducted an important
cycle of expansion and innovation. Under his leadership, the
Company grew its annualized revenue by over 12x to R$9.2 billion in
the second quarter of 2022, increased its payments client base from
103,000 to over 2 million clients, launched its suite of banking
solutions, and established Stone as the leading retail software
provider in Brazil through its acquisition of Linx.
“I have a strong trust in Pedro and think he has
an outstanding combination of personal values and leadership
capabilities to manage dynamic and growing organizations,” said Mr.
Piau. “I believe Pedro is the right person to guide Stone into the
next phase of our Company, and I’m excited to work with him and
support him in this transition process in the best way possible. I
believe Stone is well positioned to deliver strong results and
Pedro will really help to lead the team and execute on our business
plan. I remain committed to Stone as a partner and board member and
look forward to supporting Pedro in this new part of our
journey.”
Mr. Zinner was most recently the CEO of Eneva,
one of the leading power-generation companies in Brazil, from 2017
to November 2022. During his leadership, Eneva produced strong
growth and efficiency, increasing its installed capacity by over
186% and its Return on Equity (ROE) from 1.5% to 17.3%. He has more
than 25 years of management and leadership experience in strategy,
risk management and finance at Eneva, BG Group, and Vale, which he
brings to StoneCo.
“StoneCo has a privileged position in Brazil
serving small and medium merchants with recognized customer service
excellence and a national distribution footprint. We have the
opportunity to do much more to support Brazilian entrepreneurs in
their growth journeys,” said Mr. Zinner. “As I transition to the
CEO role, I am excited to work with the entire Stone team to
continue enhancing the many ways we help Brazilian merchants
succeed and delivering value for our shareholders. I look forward
to working closely with Thiago, the Board and senior management to
lead the organization in its next phase of growth and
profitability.”
About StoneCo
StoneCo is a leading provider of financial technology and
software solutions that empower merchants to conduct commerce
seamlessly across multiple channels and help them grow their
businesses.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made as of the date they were first
issued and were based on current expectations, estimates, forecasts
and projections as well as the beliefs and assumptions of
management. These statements identify prospective information and
may include words such as “believe,” “may,” “will,” “aim,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,”
“forecast,” “plan,” “predict,” “project,” “potential,”
“aspiration,” “objectives,” “should,” “purpose,” “belief,” and
similar, or variations of, or the negative of such words and
expressions, although not all forward-looking statements contain
these identifying words.
Forward-looking statements are subject to a
number of risks and uncertainties, many of which involve factors or
circumstances that are beyond Stone’s control.
Stone’s actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including but not limited to: more intense
competition than expected, lower addition of new clients,
regulatory measures, more investments in our business than
expected, and our inability to execute successfully upon our
strategic initiatives, among other factors.
Contact:
Investor Relationsinvestors@stone.co
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