In the recent events of the Bradesco organization companies, Luiz Carlos Trabuco was announced as the new chairman of the board of directors. Trabuco was the vice president before the resignation of the Lazaro Brandao, his predecessor. He recently commented that the Brandao choose his name after critical thinking and planning of his departure.
He told the press that he believed his extensive career brought him forth to being considered by Lazaro for the Chairman position of the company. The enthusiastic leader went ahead to confirm that among the members of the board, the selection of the next president to run the Bradesco group would originate from the Board.
The announcement of Brando’s resignation came at 91 years of the running of the council. He had run the committee since 1990. Bradesco also announced Trabuco’s position as Chairman of the board a day prior the resignation of Brandao. Trabuco now holds the chairmanship of the committee in both twin companies which include BBD participacoes and Fundacao Bradesco. The initiative for Bradoa’s resignation came directly from him a confirmed by the interview previously had with the media. He pointed out that there was the need to have a competent counsel which made his succession inevitable and necessary at the same time. His family could not agree more as they seem to be in support of his decision to resign. He also gave Trabuco credit for having the ablest and essential skills to take up the position. Brado described the new president as a natural with all the conditions to deliver excellent performance.
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The acquisition of HSBC had motivated the extension of Trabuco’s Mandate. This addition was the change of rules that had allowed Trabuco to remain the Chief executive officer of the Bradesco. The Company, later on, made an announcement proposing raising the age limit of the Chairman From 65 years to 67 years. This proposal would automatically set Trabuco off the presidency. Trabuco’s mandate w extension was because of convenience due to the closing of HSBC acquisition. It happened as the council felt unprepared to decide the fate of some of the company’s staff. Trabuco holds both positions. It shall be the case until the first meeting of the collegiate which happens after the shareholders have met. The meeting is scheduled for March 2018.
The rise of the Trabuco saw the Bradesco Board hold a vacant post. The Board comprises of eight members some from the Aguiar family and other former bank executives. The plans are for the numbers of the board to remain constant. However, the successor of the bank has not been in consideration. Due process in regards to the selection of the rightful successor shall be held out using the standard criteria for analyzing the selected options regarding talents, skills, qualification, and efficiency to reach to the right successor.
Luiz Carlos Trabuco started his career in 1969 at Banco Bradesco. He climbed the ranks by his selection as director in 1984 and later on became the vice president in the year 1999.He took the role of the chairman of the Bradesco Seguros Group for over 5years before being elected as the chief executive officer in 2009 at Banco Bradesco.
He also holds the chairman of the board of Directors of Elo participacoes SA and also got involved in the strategic committee of Vale SA as a member among other positions. He previously held positions as president of the insurance group and president of Bradesco Vida e Previdencia among different significant positions.
Luiz Carlos Trabuco has an extensive background in banking and leadership and remains one of the most qualified in his profession. He graduated from Sao Paulo, Faculty of Philosophy and Letters and held a post-graduate degree in socio-psychology from the school of Sociology and Politics Foundation at Sao Paulo.
Learn more about Luiz Carlos Trabuco: http://www.infomoney.com.br/blogs/bolsa/o-investidor-de-sucesso/post/7002925/quem-substituira-trabuco-comando-bradesco-nomes-estao-cotados-tudo-pode