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The Executive Board may be composed of three to ten members, with this number of members fixed and the members elected by the Board of Directors within ten business days from the date the General Stockholders’ Meeting electing the Board.

Members of the Board of Directors may be appointed to compose up to one-third of the Executive Board’s positions. However, in line with good corporate governance practices, the positions of Chairman of the Board of Directors and Chief Executive Officer (or the company’s main executive) may not be concurrently held by the same person. Bylaws also set forth that no officers aged over 75 will be elected.

Member Position Date of election Term length
CEO and Investor Relations Officer 05/10/2021 Up to 10 business days from the GSM of 2022

Alfredo Setubal has a bachelor’s and a postgraduate degree in Business Administration from the Getúlio Vargas Foundation (Brazil), and a graduate specialization course at INSEAD (France). He is the CEO, investor Relations Officer and Vice Chairman of the Board of Directors of Itaúsa. He is also engaged in the activities of investees as a member of the Board of Directors of Itaú Unibanco, Alpargatas, and Duratex – of which he is a Co-Chairman, in addition to being a member of several committees at Itaúsa and investees. Mr. Setubal has worked for over 20 years as an executive at the Capital Markets and Investor Relations areas, with his longest lasting experience at Itaú Unibanco. He is also involved with the work of third sector organizations, as a member of boards of directors and committees of the following entities: Brazilian Association of Publicly-Held Companies (Abrasca), Brazilian Institute of Investors Relations (Ibri), São Paulo Art Museum (Masp), São Paulo Art Biennial Foundation and Fundação Tide Azevedo Setubal, in addition to being the Chief Financial Officer of the São Paulo Museum of Modern Art (MAM).

Executive Vice President 05/10/2021 Up to 10 business days from the GSM of 2022

Alfredo Egydio Arruda Villela Filho is a mechanical engineer with a bachelor’s degree from the Mauá Engineering School of the Instituto Mauá de Tecnologia, and also holds a postgraduate degree in Business Administration from the Getúlio Vargas Foundation (Brazil). He is Itaúsa’s Executive Vice President, and served as a member of the Board of Directors and the Ethics, Disclosure and Trading, Investment Policies and Accounting Policies committees from 1995 to 2017. He was a member of the Boards of Directors and Committees of Itaú Unibanco, Duratex, Elekeiroz, and Itautec from 1996 to 2017. Mr. Villela Filho has also been a member of the executive board of third-sector organization Instituto Alana since 1992.

Executive Vice President 05/10/2021 Up to 10 business days from the GSM of 2022

Ricardo Setubal is a lawyer with a bachelor’s degree from University of São Paulo (USP), and a business administrator, with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and holds a graduate specialization (PMD 69) from Harvard University. He is a member of the Board of Directors, Disclosure and Trading Committee, and the Investment Policies Committee. He also serves as coordinator of the Sustainability and Risk Committee and is a member of the Finance, Investment, Corporate Governance and People and Ethics Committees of Itaúsa. Mr. Setubal is a member of the Board of Directors of Duratex and its advisory committees: Personnel, Governance and Nomination, Audit and Risk Management, Sustainability, and Disclosure and Trading. Mr. Setubal also served as an officer, a member of the boards of directors and committees of other investees of the Conglomerate from 1999 to 2018: Itautec and Elekeiroz. He was a member of the board of directors of the Brazilian Institute of Corporate Governance (IBGC) from 2014 to 2019.

Executive Vice President 05/10/2021 Up to 10 business days from the GSM of 2022

Rodolfo Villela Marino is a business administrator with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and has a master’s degree in Development Studies and Economics and Philosophy from the London School of Economics and Political Science (LSE) (UK). He is currently Executive Vice President, and a member of the Board of Directors, of the Disclosure and Trading Committee, and of the Investment Policy Committee of Itaúsa. He also serves as Coordinator of the People and Ethics Committee, and is a member of the Finance, Investment, Corporate Governance and Sustainability and Risk committees of Itaúsa. Mr. Marino has worked with investees as a member of the Board of Directors and Committees of Alpargatas and Duratex. He was a member of the Executive Board, Board of Directors and Committees of other companies of the Conglomerate from 2005 to 2017. He is also involved with the work of third sector organizations and trade associations, and has served as an officer and member of the boards of directors of the following institutions: Sociedade Cultura Artística, Instituto Itaú Cultural, Instituto PDR, São Paulo Cia. de Dança, Young Presidents Organization-YPO/WPO, Brazilian Institute of Corporate Governance (IBGC), Fundação Itaú Social, IEDI - Inst. para Estudos do Desenvolvimento Industrial, Abrasca, Todos pela Educação, Instituto Yandeh, IBÁ - Industria Brasileira de Árvores, and Instituto Unibanco.

New Business Officer 05/10/2021 Up to 10 business days from the GSM of 2022

Frederico Pascowitch has a bachelor's degree in Business Administration from Insper. He is Itaúsa’s New Business Managing Officer and a member of its Investments, Corporate Governance and Sustainability and Risk Committees. He was an Investments Adviser from February 2016 to April 2017 at Itaúsa. He was a partner at Gávea Investimentos from 2008 to 2015, and a member of the Board of Directors of Energisa and Cell Site Solutions. As a portfolio manager, Mr. Pascowitch worked in the monitoring of performance of a number of assets, such as Unidas, Azul Linhas Aéreas, Paschoalotto, Time for Fun, and Arcos Dorados.

Legal, Compliance and Corporate Risks Officer 05/10/2021 Up to 10 business days from the GSM of 2022

Maria Fernanda Ribas Caramuru has a bachelor’s degree in Law from the Pontifical Catholic University of São Paulo (PUC/SP), with a graduate specialization in Business Law from PUC/SP. She is also an LL.M. (Master of Laws) from Columbia University School of Law in New York (USA) and holds an MBA from Columbia University Business School in New York (USA).

She carried out functions in other companies of the conglomerate, including in the merger and acquisition operations at Itaú Unibanco from 2000 to 2013.

She worked at the Company from 2013 to 2016 as a lawyer consultant to provide advisory to the new business department and in legal matters involving the company and its subsidiaries.

She is Itaúsa’s Legal, Compliance and Corporate Risks Managing Officer, and a member of the Disclosure and Trading Committee and the, Corporate Governance and Sustainability and Risk Committees. Ms. Caramuru has been an officer at Itautec since 2016.

Management and Finance Officer 05/10/2021 Up to 10 business days from the GSM of 2022

Priscila Grecco has a bachelor’s degree in Accounting from PUC-SP, an MBA in Financial and Risk Management from FIPECAFI/USP, and a postgraduate degree in Business Economics from FGV (Brazil). She also has graduate specialization degrees for executives from Harvard Business School (Program for Leadership Development) and the Executive Certificate in Management and Leadership from MIT Sloan School of Management (USA). Ms. Toledo is Management and Finance Managing Officer, and a member of the Disclosure and Trading Committee and the Finance, Investment, Corporate Governance and Sustainability and Risk Committees of Itaúsa.

She served as Itaúsa's New Business Officer from 2013 to 2017.

She has been an Officer at Itautec since April 2017, where she was the Investor Relations Officer from April 2017 to August 2019, and a member of the Disclosure and Trading Committee from April 2017 to August 2019. She has over 20 years of experience in Finance, Audit, and Mergers & Acquisitions, working at large companies such as Citibank S.A., KPMG, and Itaú Unibanco. She was Mergers and Acquisitions Superintendent at Itaú Unibanco Holding Financeira S.A. from December 2003 to May 2013.

An essential player in Itaúsa's governance system, it is incumbent upon the Fiscal Council to supervise the behavior of management members, review and opine on the financial statements for the year, and reporting its conclusions to the Company’s stockholders, in compliance with its legal and statutory duties.

The Fiscal Council operates on a permanent basis, and may be composed of at least three and at the most five members, and equal number of alternate members, all of whom elected annually by stockholders at the General Meeting. Among its members, there are representatives elected by minority and preferred stockholders. Furthermore, it is incumbent upon the Fiscal Council to assess significant operations as provided for in Itaúsa's Transactions with Related Parties Policy, and report them to the Company’s Board of Directors.

Member Position Date of election Term length
Effective Member 04/30/2021 GSM of 2022

Tereza has a degree in Business Administration and Accounting Sciences from the Universidade Católica de Minas Gerais, with specializations in Banking Supervision in Switzerland and the United States. She is currently Chairman of the company's Fiscal Council (since Apr/2011). She has served in several positions in the investee companies. At Duratex, she is a member of Audit and Risk Management Committee (since Apr/2012), having served on this governance body as a specialist (since Jun/12) and as president (2013-2019). She was Coordinator of the Audit and Risk Management Committee at Itautec (2010-2015) and the Disclosure Committee (2011-2015). At Itaú Unibanco Holding, she was a member of the Board of Directors from 2004 to 2008, Member of the Audit Committees from 2004 to 2010, of Disclosure and Trading from 2005 to 2010 and of Accounting Policies from 2008 to 2009. She has extensive experience in corporate governance, installation of audit committees, structuring of internal audit areas, having worked in relevant companies and institutions, such as B3 SA, Porto Seguro, CVC Corpo and Banco Central do Brasil. He currently holds positions in other companies, as a member of Boards and Committees of the following entities: Terra Santa Agro and C&A.

Effective Member  04/30/2021 GSM of 2022

Eduardo Rogatto Luqui has a bachelor’s degree in Accounting from the Pontifical Catholic University of São Paulo, and an MBA degree in Controllership from University of São Paulo and APG Senior Program intended for C-level leaders promoted by Amana-Key (SP). He is a Brazilian Public Accountant registered with the CVM, a qualified Auditor certified by the National Register of Independent Auditors (CNAI) of the CVM, and a Certified Public Accountant (CPA) by the State of California (USA), as well as an IFRS and USGAAP expert. He is currently an effective member of Itaúsa’s Fiscal Council. Mr. Luque has 27 years of experience at PwC, including 13 years as a Partner (2004-2016). Over his career at PwC he attended an International Program in the U.S. for three years, led the Engineering and Construction industry and the Japan Desk in Brazil, as well as the Global Quality Review Program in auditing in Brazil and Ecuador. He is Managing Director of Irko Organização Contábil Ltda, and has been the Head of Quality department and Technical Committee since 2016. He is also a member of the following trade associations: Irko Organização Contábil Ltda, Institute of Independent Auditors of Brazil (IBRACON), California AICPA (CALAICPA), Brazilian Institute of Corporate Governance (IBGC), and Brazilian Federal and State Accounting Institutes (CRC and CFC).

Effective Member 04/30/2021 GSM of 2022

Guilherme has a degree in Public Administration from Unisul, an MBA in Finance with an emphasis on Controllership and Auditing from FGV and specialization courses in Business conducted in the Netherlands. He is currently an effective member of the Fiscal Council at Itaúsa, having previously served as an alternate and effective member of the Fiscal Council at Itaúsa and investee companies, in addition to having served in other positions in the investee companies as Financial and Controllership Director and as Financial Consultant in other companies in Brazil and USA from August 2015 to July 2017. Guilherme is also an Administrative and Financial Director (CFO) at Minuto Corretora de Seguros S.A. since August 2017.

Effective Member 04/30/2021 GSM of 2022

Isaac Berensztejn is an engineer graduated from PUC-Rio in 1973, Master in Production Engineering from COPPE/UFRJ in 1979 and has an MBA in Administration from COPPEAD in 1987. He has been an Effective Member of the Fiscal Council of Itaúsa since Jun/2020, having been an Alternate Member (2016-2020). He serves as an Effective Member of the Fiscal Council of Litel and Litela (since Jun/2020), having been an Alternate Member (2016-2020). He serves as an alternate member of the Statkraft Board of Directors (since Jan/2021). At Claro, he was a member of the Board of Directors (2014-2015), Chief Financial Officer (2012-2015) and Investor Relations Officer (2014-2015). He was a Member of the Boards of Directors of NET (2005-2014) and Telmex (2013-2014), in addition to a Member of the Board of Directors (2004-2014) and Financial Director (2001-2003) of StarOne. In addition, he was a Member of the Deliberative Council (1996-2003), Investment Manager and Advisor to the Presidency (1992-1994) at Telos and Financial Director at Level3 (2016-2018). He also served as CFO and Investor Relations Director (2004-2014), Planning Director (2000) and Head of the Financial Department (1994-1997) at Embratel and as CFO and Investor Relations at Telemar and Telerj (1998-1999).

Effective Member 04/30/2021 GSM of 2022

Marco Tulio has a degree in production engineering and economics from the University of São Paulo and an MBA in finance from the University of Chicago. He is currently a member of Itaúsa's fiscal council (since Jul/20), of Tupi's strategy committee (since Jul/19), of the board of directors of Hospital Sabará - FJLS (since Apr/16) and is a partner and adviser of Peter Graber Monitoring (since Oct/19). Previously, from 2004 to 2013, he was a member or advisor to the board of directors of Brasmetal Waelzholz, Graber, Papaiz, Bematech, Cremer, Tigre and other companies. As an executive, he was CEO of Mapri-Textron Fastening Systems (1992-1999), TotalNet/Tradecom (2000-2004) and Sensormatic do Brasil (2006-2007), in addition to a consultant at Booz, Allen & Hamilton (1987-1992) and professor at the Technological Institute of Aeronautics (1982-1985). He is a CVM accredited manager, having worked at Constellation Asset Management and Terra Boa Capital. Institutionally, he was vice president of Sindipeças (1993-1999) and member of the CIESP economy committee (2004-2007).

The Advisory Committees to the Board are advisory bodies, responsible for advising the Board in the analysis of strategic matters within its competence, with the aim of providing greater efficiency to this collegiate body. In addition, the committees assist the Board in carrying out its legal and statutory functions.

Itaúsa currently has three Committees: Governance and People Committee, Sustainability and Risk Committee and Strategy and New Businesses Committee. These bodies are composed of members appointed annually by the Company’s Board of Directors.

The Governance and People Committee deals with issues discussed in the Governance Committee and People and Ethics Committee. The main assignments of this Committee are:

  • • Management evaluation and its frequency
  • • Management succession rules
  • • Management compensation Policy, overall amount, and allocation
  • • Definition of independence criteria of the Board of Directors
  • • Identification of experts for Committees, if applicable
  • • ESG trends and benchmarks
  • • Regulations and self-regulations related to corporate governance
  • • Corporate governance system
Member Position Date of election Term length
Coordinator 05/10/2021 GSM 2022

Patricia has a degree in Economics from the Pontifícia Universidade Católica do Rio de Janeiro (1989) and an MBA in Finance from Columbia Business Scholl in New York (1995). He is currently an Independent Member of the Board of Directors of Itaúsa. She is a founding partner of Unbox Capital (since Sep/2018) and was a managing director at J.P. Morgan Brasil (1995-2018), in addition to having worked at Accenture as an associate (1989-1993). Patricia is also Director of Grupo Mulheres do Brasil and serves on the Board of the Financial Studies Program at Columbia Business Scholl and on the Board of Columbia University in Brazil. He has over twenty years of experience in Investment Banking, having worked for JP Morgan's Mergers & Acquisitions team in New York and São Paulo and as Head of JP Morgan's Investment Banking and Corporate Banking in Brazil, being responsible for all relationships and transactions with Brazilian and multinational companies. He also has experience in advising companies in strategic mergers, acquisitions and divestitures transactions, and in capitalizations through the raising of debt and IPO.

Effective Member 05/10/2021 GSM 2022

Edson has a degree in Economics and Business Administration from Fundação Armando Alvares Penteado (FAAP) in 1985 and 1986, respectively, and a Master’s in Business Administration from University of São Paulo (FIA/USP), in 1998. He is currently a effective member of the Board of Directors of Itaúsa, having served as an Alternate Member of the Board of Directors of the company since Apr/2019. He has been Benefits Director at Ambev since Jan/2015, where he also held the positions of Director of Corporate Relations (2011-2014) and Manager of Strategic Planning (2000-2003). He is also a member of the Board of Directors of Fundação Antônio e Helena Zerrenner since May/2018, Executive Director since Jul/2012 and Member of the Advisory Board (2004-2012). Additionally, he was VP Global Finance and Excise Tax at Anheuser-Busch InBev (2009-2011) and Member of the Fiscal Council and Private Pension Institute of AmBev - IAPP (2004-2007).

Effective Member 05/10/2021 GSM 2022

Ricardo Setubal is a lawyer with a bachelor’s degree from University of São Paulo (USP), and a business administrator, with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and holds a graduate specialization (PMD 69) from Harvard University. He is a member of the Board of Directors, Disclosure and Trading Committee, and the Investment Policies Committee. He also serves as coordinator of the Sustainability and Risk Committee and is a member of the Finance, Investment, Corporate Governance and People and Ethics Committees of Itaúsa. Mr. Setubal is a member of the Board of Directors of Duratex and its advisory committees: Personnel, Governance and Nomination, Audit and Risk Management, Sustainability, and Disclosure and Trading. Mr. Setubal also served as an officer, a member of the boards of directors and committees of other investees of the Conglomerate from 1999 to 2018: Itautec and Elekeiroz. He was a member of the board of directors of the Brazilian Institute of Corporate Governance (IBGC) from 2014 to 2019.

Effective Member 05/10/2021 GSM 2022

Vicente holds a degree in Civil Engineering from the Federal University of Minas Gerais (1985), and in Petroleum Engineering (1986), from Petróleo Brasileiro S.A. as well as a Master in Business Administration, with an emphasis on Finance (1997), from The Wharton School, University of Pennsylvania. He is currently an independent member of the Board of Directors of Itaúsa. He has been a Senior Partner at McKinsey since 2008, having served in various positions in the company. He was a Leader and responsible for B2B Business Practice for Latin America since 2018, member of the Global Committee for the Election of Partners from External Candidates since 2017, member of the Global Committee of Risks Associated with Serving Customers since 2016, having been a partner responsible for the Office of Brazil (2011-2018), Leader and responsible for the Practice of Advanced Industries in Latin America (2012-2017), Member of the global task force in charge of improving the governance of the company (2015-2016), Member of the Global Committee of Partner Assessment (2009-2014), Member of the global task force charged with reviewing the company's values ??(2011-2012), Leader and responsible for the Practice of Operations in Latin America (2010-2012), Partner (2002-2008), Associate Partner (2000-2002), Project Manager (1999-2000) and Associate (1997-1998); Additionally, he is a member of the Advisory Board of Generation Brasil (since 2020) and of the Wharton Alumni Club in Brazil (since 2016), he is an advisor to MASP - Museum of Art of São Paulo and the Chamber of Commerce Brazil Portugal (since 2015). He also worked in several positions, up to the Head of the Development Sector for Equipment for Use in Deep Water at Petrobras (1985-1997).

Effective Member 05/10/2021 GSM 2022

Rodolfo Villela Marino is a business administrator with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and has a master’s degree in Development Studies and Economics and Philosophy from the London School of Economics and Political Science (LSE) (UK). He is currently Executive Vice President, and a member of the Board of Directors, of the Disclosure and Trading Committee, and of the Investment Policy Committee of Itaúsa. He also serves as Coordinator of the People and Ethics Committee, and is a member of the Finance, Investment, Corporate Governance and Sustainability and Risk committees of Itaúsa. Mr. Marino has worked with investees as a member of the Board of Directors and Committees of Alpargatas and Duratex. He was a member of the Executive Board, Board of Directors and Committees of other companies of the Conglomerate from 2005 to 2017. He is also involved with the work of third sector organizations and trade associations, and has served as an officer and member of the boards of directors of the following institutions: Sociedade Cultura Artística, Instituto Itaú Cultural, Instituto PDR, São Paulo Cia. de Dança, Young Presidents Organization-YPO/WPO, Brazilian Institute of Corporate Governance (IBGC), Fundação Itaú Social, IEDI - Inst. para Estudos do Desenvolvimento Industrial, Abrasca, Todos pela Educação, Instituto Yandeh, IBÁ - Industria Brasileira de Árvores, and Instituto Unibanco.

Member 05/10/2021 GSM 2022

Alfredo Setubal has a bachelor’s and a postgraduate degree in Business Administration from the Getúlio Vargas Foundation (Brazil), and a graduate specialization course at INSEAD (France). He is the CEO, investor Relations Officer and Vice Chairman of the Board of Directors of Itaúsa. He is also engaged in the activities of investees as a member of the Board of Directors of Itaú Unibanco, Alpargatas, and Duratex – of which he is a Co-Chairman, in addition to being a member of several committees at Itaúsa and investees. Mr. Setubal has worked for over 20 years as an executive at the Capital Markets and Investor Relations areas, with his longest lasting experience at Itaú Unibanco. He is also involved with the work of third sector organizations, as a member of boards of directors and committees of the following entities: Brazilian Association of Publicly-Held Companies (Abrasca), Brazilian Institute of Investors Relations (Ibri), São Paulo Art Museum (Masp), São Paulo Art Biennial Foundation and Fundação Tide Azevedo Setubal, in addition to being the Chief Financial Officer of the São Paulo Museum of Modern Art (MAM).

Member 05/10/2021 GSM 2022

Henry Penchas is a Mechanical Engineer, with a bachelor’s degree from Mackenzie Presbyterian University and a postgraduate degree in Finance from the Getúlio Vargas Foundation (Brazil). He is the Chairman of Itaúsa’s Board of Directors and a member of the Board of Directors of Nova Transportadora do Sudeste S.A. – NTS, in addition to taking part in a number of committees at Itaúsa and investees. He was the CEO of Duratex and a member of the Board of Directors of Itaú Unibanco, Duratex, and Elekeiroz, and Executive Vice President of Itaú Unibanco. In the last 20 years, Mr. Penchas has been involved in the most outstanding M&A operations carried out by the holding company and investees. At third sector organizations, Mr. Penchas is a member of the boards of directors of Fundação José Luiz Setubal, Instituto Itaú Cultural, and of the Fiscal Council of Instituto Alana.

Internal Charter of the Governance and People Committee

The Sustainability and Risk Committee was created with the objective of conducting the issues discussed in the Sustainability Committee and in the Audit and Risks Committee. Among the main assignments of this Committee are:

  • • Advise on risk management, including appetite and tolerance proposal
  • • Review and propose risk prioritization and response plans
  • • Speak on the assessment of regulatory adherence, of the Integrity Program and the risk management systems and internal controls
  • • Evaluate and monitor the internal audit work and its results
  • • Propose and monitor the execution of projects to improve sustainability practices in the social, environmental and economic dimensions
Member Position Date of election Term length
Coordinator 05/10/2021 GSM 2022

Fernando Marques has a degree in Business Administration from Fundação Getúlio Vargas in São Paulo (1998). He is currently an independent member of the Board of Directors of Itaúsa, having served as an independent member of the Investment Policy Committee of the Company (2008-2013) and member of the Board of Directors of Duratex (2009). He is a partner at H.I.G. Capital since Feb / 2012, having been President for Brazil and Latin America and member of the Fund's Investment Committee. He was an independent member of the Elekeiroz Board of Directors (2010-2013), being coordinator of the People Committee (2010-2013), member of the Governance and Risk Committees (2010-2012) and Disclosure (2011-2012) of the Company. He was also head for Brazil and Latin America and member of the Global Council of General Atlantic (2008-2012) and head of Private Equity and Illiquid Strategies at Grupo Icatu (1997-2008). Fernando has twenty-four years of experience in the Brazilian and Latin American Private Equity and alternative asset markets, having participated in more than 50 transactions in the region in different industries, including Consumer Goods, Services, Health, Media, Entertainment, Telecommunications, Software and Technology, Food and Beverages, Mining, Real Estate, Education, Pulp and Paper, Agribusiness, Retail and Financial Services.He was a Member of the Board of Directors of more than 30 companies in Brazil, including Qualicorp, Mineração Caraíba (currently Ero Copper), ABC Group (currently a division of the Omnicom Group) and Mabel Alimentos (currently a division of PepsiCo), among other companies.

Effective Member 05/10/2021 GSM 2022

Ms. Villella has a bachelor’s degree in Teaching with a minor in School Management, a master’s degree in Educational Psychology from the Pontifical Catholic University of São Paulo (PUC-SP), and a postgraduate degree in Third Sector Management from the Getúlio Vargas Foundation (Brazil). She is currently the Vice Chairman of the Board of Directors and a member of the Finance Committee of Itaúsa. She has worked with the investees as a member of the Board of Directors of Itaú Unibanco and Duratex and is also member of advisory committees related to sustainability matters at Itaúsa's investees. She is also involved with the work of third sector organizations, as an officer, chair, and member of the boards of directors of the following entities: Itaú Cultural, Itaú Social, AlanaLab, Fundação Alana, Instituto Alana, XPrize, Instituto Bricante Ashoka, Commercial Free Childhood, Instituto Akatu, and Conectas.

Effective Member 05/10/2021 GSM 2022

Edson has a degree in Economics and Business Administration from Fundação Armando Alvares Penteado (FAAP) in 1985 and 1986, respectively, and a Master’s in Business Administration from University of São Paulo (FIA/USP), in 1998. He is currently a effective member of the Board of Directors of Itaúsa, having served as an Alternate Member of the Board of Directors of the company since Apr/2019. He has been Benefits Director at Ambev since Jan/2015, where he also held the positions of Director of Corporate Relations (2011-2014) and Manager of Strategic Planning (2000-2003). He is also a member of the Board of Directors of Fundação Antônio e Helena Zerrenner since May/2018, Executive Director since Jul/2012 and Member of the Advisory Board (2004-2012). Additionally, he was VP Global Finance and Excise Tax at Anheuser-Busch InBev (2009-2011) and Member of the Fiscal Council and Private Pension Institute of AmBev - IAPP (2004-2007).

Effective Member 05/10/2021 GSM 2022

Ricardo Setubal is a lawyer with a bachelor’s degree from University of São Paulo (USP), and a business administrator, with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and holds a graduate specialization (PMD 69) from Harvard University. He is a member of the Board of Directors, Disclosure and Trading Committee, and the Investment Policies Committee. He also serves as coordinator of the Sustainability and Risk Committee and is a member of the Finance, Investment, Corporate Governance and People and Ethics Committees of Itaúsa. Mr. Setubal is a member of the Board of Directors of Duratex and its advisory committees: Personnel, Governance and Nomination, Audit and Risk Management, Sustainability, and Disclosure and Trading. Mr. Setubal also served as an officer, a member of the boards of directors and committees of other investees of the Conglomerate from 1999 to 2018: Itautec and Elekeiroz. He was a member of the board of directors of the Brazilian Institute of Corporate Governance (IBGC) from 2014 to 2019.

Effective Member 05/10/2021 GSM 2022

Rodolfo Villela Marino is a business administrator with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and has a master’s degree in Development Studies and Economics and Philosophy from the London School of Economics and Political Science (LSE) (UK). He is currently Executive Vice President, and a member of the Board of Directors, of the Disclosure and Trading Committee, and of the Investment Policy Committee of Itaúsa. He also serves as Coordinator of the People and Ethics Committee, and is a member of the Finance, Investment, Corporate Governance and Sustainability and Risk committees of Itaúsa. Mr. Marino has worked with investees as a member of the Board of Directors and Committees of Alpargatas and Duratex. He was a member of the Executive Board, Board of Directors and Committees of other companies of the Conglomerate from 2005 to 2017. He is also involved with the work of third sector organizations and trade associations, and has served as an officer and member of the boards of directors of the following institutions: Sociedade Cultura Artística, Instituto Itaú Cultural, Instituto PDR, São Paulo Cia. de Dança, Young Presidents Organization-YPO/WPO, Brazilian Institute of Corporate Governance (IBGC), Fundação Itaú Social, IEDI - Inst. para Estudos do Desenvolvimento Industrial, Abrasca, Todos pela Educação, Instituto Yandeh, IBÁ - Industria Brasileira de Árvores, and Instituto Unibanco.

Member 05/10/2021 GSM 2022

Alfredo Setubal has a bachelor’s and a postgraduate degree in Business Administration from the Getúlio Vargas Foundation (Brazil), and a graduate specialization course at INSEAD (France). He is the CEO, investor Relations Officer and Vice Chairman of the Board of Directors of Itaúsa. He is also engaged in the activities of investees as a member of the Board of Directors of Itaú Unibanco, Alpargatas, and Duratex – of which he is a Co-Chairman, in addition to being a member of several committees at Itaúsa and investees. Mr. Setubal has worked for over 20 years as an executive at the Capital Markets and Investor Relations areas, with his longest lasting experience at Itaú Unibanco. He is also involved with the work of third sector organizations, as a member of boards of directors and committees of the following entities: Brazilian Association of Publicly-Held Companies (Abrasca), Brazilian Institute of Investors Relations (Ibri), São Paulo Art Museum (Masp), São Paulo Art Biennial Foundation and Fundação Tide Azevedo Setubal, in addition to being the Chief Financial Officer of the São Paulo Museum of Modern Art (MAM).

Member 05/10/2021 GSM 2022

Henry Penchas is a Mechanical Engineer, with a bachelor’s degree from Mackenzie Presbyterian University and a postgraduate degree in Finance from the Getúlio Vargas Foundation (Brazil). He is the Chairman of Itaúsa’s Board of Directors and a member of the Board of Directors of Nova Transportadora do Sudeste S.A. – NTS, in addition to taking part in a number of committees at Itaúsa and investees. He was the CEO of Duratex and a member of the Board of Directors of Itaú Unibanco, Duratex, and Elekeiroz, and Executive Vice President of Itaú Unibanco. In the last 20 years, Mr. Penchas has been involved in the most outstanding M&A operations carried out by the holding company and investees. At third sector organizations, Mr. Penchas is a member of the boards of directors of Fundação José Luiz Setubal, Instituto Itaú Cultural, and of the Fiscal Council of Instituto Alana.

Internal Charter of the Sustainability and Risk Committee

The Strategy and New Businesses Committee was created to address issues discussed in the Investment Committee, in addition to monitoring and discussing the capital allocation strategy. The main assignments of this Committee are:

  • • Capital allocation strategy (new investments)
  • • Strategic portfolio management
  • • Share Buyback to be kept in treasury
Member Position Date of election Term length
Coordinator 05/10/2021 GSM 2022

Vicente holds a degree in Civil Engineering from the Federal University of Minas Gerais (1985), and in Petroleum Engineering (1986), from Petróleo Brasileiro S.A. as well as a Master in Business Administration, with an emphasis on Finance (1997), from The Wharton School, University of Pennsylvania. He is currently an independent member of the Board of Directors of Itaúsa. He has been a Senior Partner at McKinsey since 2008, having served in various positions in the company. He was a Leader and responsible for B2B Business Practice for Latin America since 2018, member of the Global Committee for the Election of Partners from External Candidates since 2017, member of the Global Committee of Risks Associated with Serving Customers since 2016, having been a partner responsible for the Office of Brazil (2011-2018), Leader and responsible for the Practice of Advanced Industries in Latin America (2012-2017), Member of the global task force in charge of improving the governance of the company (2015-2016), Member of the Global Committee of Partner Assessment (2009-2014), Member of the global task force charged with reviewing the company's values ??(2011-2012), Leader and responsible for the Practice of Operations in Latin America (2010-2012), Partner (2002-2008), Associate Partner (2000-2002), Project Manager (1999-2000) and Associate (1997-1998); Additionally, he is a member of the Advisory Board of Generation Brasil (since 2020) and of the Wharton Alumni Club in Brazil (since 2016), he is an advisor to MASP - Museum of Art of São Paulo and the Chamber of Commerce Brazil Portugal (since 2015). He also worked in several positions, up to the Head of the Development Sector for Equipment for Use in Deep Water at Petrobras (1985-1997).

Effective Member 05/10/2021 GSM 2022

Patricia has a degree in Economics from the Pontifícia Universidade Católica do Rio de Janeiro (1989) and an MBA in Finance from Columbia Business Scholl in New York (1995). He is currently an Independent Member of the Board of Directors of Itaúsa. She is a founding partner of Unbox Capital (since Sep/2018) and was a managing director at J.P. Morgan Brasil (1995-2018), in addition to having worked at Accenture as an associate (1989-1993). Patricia is also Director of Grupo Mulheres do Brasil and serves on the Board of the Financial Studies Program at Columbia Business Scholl and on the Board of Columbia University in Brazil. He has over twenty years of experience in Investment Banking, having worked for JP Morgan's Mergers & Acquisitions team in New York and São Paulo and as Head of JP Morgan's Investment Banking and Corporate Banking in Brazil, being responsible for all relationships and transactions with Brazilian and multinational companies. He also has experience in advising companies in strategic mergers, acquisitions and divestitures transactions, and in capitalizations through the raising of debt and IPO.

Effective Member 05/10/2021 GSM 2022

Ricardo has a bachelor’s degree in Mechanical Engineering from the Polytechnic School of the Universidade de São Paulo (1996), and has a master’s degree in Business Administration from MIT Sloan Scholl of Management – Cambridge (USA). He is currently Alternate Member of the Board of Directors, Member of Strategy and New Business Committee and member of the Sustainability Council of Itaúsa. Mr. Marino has worked in many positions at Itaú Unibanco since 2004, as a member of the Executive Board, Personnel Committee and Capital and Risk Management Committee. He is Vice-Chairman of the Board of Directors of Itaú Unibanco and Chairman of the Itaú Latam. He was also Alternate Member of the Board of Directors of Dexco and Itautec. He is also involved with the work of third sector organizations and trade associations, working as a President of Federación Latino Americana de Bancos (FELABAN) and Chairman of Comunitas and MIT Sloan.

Effective Member 05/10/2021 GSM 2022

Roberto Setubal has a bachelor’s degree in Production Engineering from Polytechnic School of University of São Paulo (USP) and a master’s degree in Science Engineering from Stanford University (USA). He is Itaúsa’s Executive Vice President, and he also served as President of the Accounting Policies Committee from 2008 to 2011. He was a member of the Executive Board of Itaú Unibanco from 1994 to 2015, and a member of the Boards of Directors and Committees of Itaú Unibanco, Itaú BBA, and Itauseg Participações from 1991 to 2017. He has been a member of the Board of the International Monetary Conference since 1994, a member of the International Advisory Committee of the Federal Reserve Bank of New York since 2002, of the Trilateral Committee and the NYSE International Board since 2000, the China Development Forum since 2010, the World Economic Forum (WEF) 2015 since 2015, and of the Economic and Social Development Council of the Presidency of the Republic of Brazil (CDES) since 2016. He was a member of the board of directors of the Brazilian Federation of Banks (Fenaban) and the Brazilian Federation of Bank Associations (Febraban) from 1994 to 2017.

Effective Member 05/10/2021 GSM 2022

Rodolfo Villela Marino is a business administrator with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and has a master’s degree in Development Studies and Economics and Philosophy from the London School of Economics and Political Science (LSE) (UK). He is currently Executive Vice President, and a member of the Board of Directors, of the Disclosure and Trading Committee, and of the Investment Policy Committee of Itaúsa. He also serves as Coordinator of the People and Ethics Committee, and is a member of the Finance, Investment, Corporate Governance and Sustainability and Risk committees of Itaúsa. Mr. Marino has worked with investees as a member of the Board of Directors and Committees of Alpargatas and Duratex. He was a member of the Executive Board, Board of Directors and Committees of other companies of the Conglomerate from 2005 to 2017. He is also involved with the work of third sector organizations and trade associations, and has served as an officer and member of the boards of directors of the following institutions: Sociedade Cultura Artística, Instituto Itaú Cultural, Instituto PDR, São Paulo Cia. de Dança, Young Presidents Organization-YPO/WPO, Brazilian Institute of Corporate Governance (IBGC), Fundação Itaú Social, IEDI - Inst. para Estudos do Desenvolvimento Industrial, Abrasca, Todos pela Educação, Instituto Yandeh, IBÁ - Industria Brasileira de Árvores, and Instituto Unibanco.

Member 05/10/2021 GSM 2022

Alfredo Setubal has a bachelor’s and a postgraduate degree in Business Administration from the Getúlio Vargas Foundation (Brazil), and a graduate specialization course at INSEAD (France). He is the CEO, investor Relations Officer and Vice Chairman of the Board of Directors of Itaúsa. He is also engaged in the activities of investees as a member of the Board of Directors of Itaú Unibanco, Alpargatas, and Duratex – of which he is a Co-Chairman, in addition to being a member of several committees at Itaúsa and investees. Mr. Setubal has worked for over 20 years as an executive at the Capital Markets and Investor Relations areas, with his longest lasting experience at Itaú Unibanco. He is also involved with the work of third sector organizations, as a member of boards of directors and committees of the following entities: Brazilian Association of Publicly-Held Companies (Abrasca), Brazilian Institute of Investors Relations (Ibri), São Paulo Art Museum (Masp), São Paulo Art Biennial Foundation and Fundação Tide Azevedo Setubal, in addition to being the Chief Financial Officer of the São Paulo Museum of Modern Art (MAM).

Member 05/10/2021 GSM 2022

Henry Penchas is a Mechanical Engineer, with a bachelor’s degree from Mackenzie Presbyterian University and a postgraduate degree in Finance from the Getúlio Vargas Foundation (Brazil). He is the Chairman of Itaúsa’s Board of Directors and a member of the Board of Directors of Nova Transportadora do Sudeste S.A. – NTS, in addition to taking part in a number of committees at Itaúsa and investees. He was the CEO of Duratex and a member of the Board of Directors of Itaú Unibanco, Duratex, and Elekeiroz, and Executive Vice President of Itaú Unibanco. In the last 20 years, Mr. Penchas has been involved in the most outstanding M&A operations carried out by the holding company and investees. At third sector organizations, Mr. Penchas is a member of the boards of directors of Fundação José Luiz Setubal, Instituto Itaú Cultural, and of the Fiscal Council of Instituto Alana.

Internal Charter of the Strategy and New Business Committee

The Related-Party Committee was created with de objective of assessing and resolving in advance the feasibility of Related-Party Transactions according to the criteria set forth in the Company’s Transactions with Related Parties Policy.

Member Position Date of election Term length
Coordinator 08/09/2021 GSM 2022

Edson has a degree in Economics and Business Administration from Fundação Armando Alvares Penteado (FAAP) in 1985 and 1986, respectively, and a Master’s in Business Administration from University of São Paulo (FIA/USP), in 1998. He is currently a effective member of the Board of Directors of Itaúsa, having served as an Alternate Member of the Board of Directors of the company since Apr/2019. He has been Benefits Director at Ambev since Jan/2015, where he also held the positions of Director of Corporate Relations (2011-2014) and Manager of Strategic Planning (2000-2003). He is also a member of the Board of Directors of Fundação Antônio e Helena Zerrenner since May/2018, Executive Director since Jul/2012 and Member of the Advisory Board (2004-2012). Additionally, he was VP Global Finance and Excise Tax at Anheuser-Busch InBev (2009-2011) and Member of the Fiscal Council and Private Pension Institute of AmBev - IAPP (2004-2007).

Effective Member 08/09/2021 GSM 2022

Fernando Marques has a degree in Business Administration from Fundação Getúlio Vargas in São Paulo (1998). He is currently an independent member of the Board of Directors of Itaúsa, having served as an independent member of the Investment Policy Committee of the Company (2008-2013) and member of the Board of Directors of Duratex (2009). He is a partner at H.I.G. Capital since Feb / 2012, having been President for Brazil and Latin America and member of the Fund's Investment Committee. He was an independent member of the Elekeiroz Board of Directors (2010-2013), being coordinator of the People Committee (2010-2013), member of the Governance and Risk Committees (2010-2012) and Disclosure (2011-2012) of the Company. He was also head for Brazil and Latin America and member of the Global Council of General Atlantic (2008-2012) and head of Private Equity and Illiquid Strategies at Grupo Icatu (1997-2008). Fernando has twenty-four years of experience in the Brazilian and Latin American Private Equity and alternative asset markets, having participated in more than 50 transactions in the region in different industries, including Consumer Goods, Services, Health, Media, Entertainment, Telecommunications, Software and Technology, Food and Beverages, Mining, Real Estate, Education, Pulp and Paper, Agribusiness, Retail and Financial Services.He was a Member of the Board of Directors of more than 30 companies in Brazil, including Qualicorp, Mineração Caraíba (currently Ero Copper), ABC Group (currently a division of the Omnicom Group) and Mabel Alimentos (currently a division of PepsiCo), among other companies.

Effective Member 08/09/2021 GSM 2022

Patricia has a degree in Economics from the Pontifícia Universidade Católica do Rio de Janeiro (1989) and an MBA in Finance from Columbia Business Scholl in New York (1995). He is currently an Independent Member of the Board of Directors of Itaúsa. She is a founding partner of Unbox Capital (since Sep/2018) and was a managing director at J.P. Morgan Brasil (1995-2018), in addition to having worked at Accenture as an associate (1989-1993). Patricia is also Director of Grupo Mulheres do Brasil and serves on the Board of the Financial Studies Program at Columbia Business Scholl and on the Board of Columbia University in Brazil. He has over twenty years of experience in Investment Banking, having worked for JP Morgan's Mergers & Acquisitions team in New York and São Paulo and as Head of JP Morgan's Investment Banking and Corporate Banking in Brazil, being responsible for all relationships and transactions with Brazilian and multinational companies. He also has experience in advising companies in strategic mergers, acquisitions and divestitures transactions, and in capitalizations through the raising of debt and IPO.

Effective Member 08/09/2021 GSM 2022

Vicente holds a degree in Civil Engineering from the Federal University of Minas Gerais (1985), and in Petroleum Engineering (1986), from Petróleo Brasileiro S.A. as well as a Master in Business Administration, with an emphasis on Finance (1997), from The Wharton School, University of Pennsylvania. He is currently an independent member of the Board of Directors of Itaúsa. He has been a Senior Partner at McKinsey since 2008, having served in various positions in the company. He was a Leader and responsible for B2B Business Practice for Latin America since 2018, member of the Global Committee for the Election of Partners from External Candidates since 2017, member of the Global Committee of Risks Associated with Serving Customers since 2016, having been a partner responsible for the Office of Brazil (2011-2018), Leader and responsible for the Practice of Advanced Industries in Latin America (2012-2017), Member of the global task force in charge of improving the governance of the company (2015-2016), Member of the Global Committee of Partner Assessment (2009-2014), Member of the global task force charged with reviewing the company's values ??(2011-2012), Leader and responsible for the Practice of Operations in Latin America (2010-2012), Partner (2002-2008), Associate Partner (2000-2002), Project Manager (1999-2000) and Associate (1997-1998); Additionally, he is a member of the Advisory Board of Generation Brasil (since 2020) and of the Wharton Alumni Club in Brazil (since 2016), he is an advisor to MASP - Museum of Art of São Paulo and the Chamber of Commerce Brazil Portugal (since 2015). He also worked in several positions, up to the Head of the Development Sector for Equipment for Use in Deep Water at Petrobras (1985-1997).

Internal Charter of the Related Parties Committee

The mission of the Board of Directors, together with the Executive Board and their advisory bodies is protecting and valuing Itaúsa's equity, in accordance with the provisions of its Bylaws, and representing the interests of stockholders and other agents with which it relates.

As provided for in the Bylaws, the Board of Directors is composed of three to 12 effective members, elected by the General Stockholders’ Meeting, and will have one Chairman and from one to three Vice Chairmen chosen by the Board Members, and it is incumbent upon the General Stockholders’ Meeting to previously establish the number of members that will compose this body.

Member Position Date of election Term length
Chairman 04/30/2021 GSM 2022

Henry Penchas is a Mechanical Engineer, with a bachelor’s degree from Mackenzie Presbyterian University and a postgraduate degree in Finance from the Getúlio Vargas Foundation (Brazil). He is the Chairman of Itaúsa’s Board of Directors and a member of the Board of Directors of Nova Transportadora do Sudeste S.A. – NTS, in addition to taking part in a number of committees at Itaúsa and investees. He was the CEO of Duratex and a member of the Board of Directors of Itaú Unibanco, Duratex, and Elekeiroz, and Executive Vice President of Itaú Unibanco. In the last 20 years, Mr. Penchas has been involved in the most outstanding M&A operations carried out by the holding company and investees. At third sector organizations, Mr. Penchas is a member of the boards of directors of Fundação José Luiz Setubal, Instituto Itaú Cultural, and of the Fiscal Council of Instituto Alana.

Vice Chairwoman 04/30/2021 GSM 2022

Ms. Villella has a bachelor’s degree in Teaching with a minor in School Management, a master’s degree in Educational Psychology from the Pontifical Catholic University of São Paulo (PUC-SP), and a postgraduate degree in Third Sector Management from the Getúlio Vargas Foundation (Brazil). She is currently the Vice Chairman of the Board of Directors and a member of the Finance Committee of Itaúsa. She has worked with the investees as a member of the Board of Directors of Itaú Unibanco and Duratex and is also member of advisory committees related to sustainability matters at Itaúsa's investees. She is also involved with the work of third sector organizations, as an officer, chair, and member of the boards of directors of the following entities: Itaú Cultural, Itaú Social, AlanaLab, Fundação Alana, Instituto Alana, XPrize, Instituto Bricante Ashoka, Commercial Free Childhood, Instituto Akatu, and Conectas.

Vice Chairman 04/30/2021 GSM 2022

Roberto Setubal has a bachelor’s degree in Production Engineering from Polytechnic School of University of São Paulo (USP) and a master’s degree in Science Engineering from Stanford University (USA). He is Itaúsa’s Executive Vice President, and he also served as President of the Accounting Policies Committee from 2008 to 2011. He was a member of the Executive Board of Itaú Unibanco from 1994 to 2015, and a member of the Boards of Directors and Committees of Itaú Unibanco, Itaú BBA, and Itauseg Participações from 1991 to 2017. He has been a member of the Board of the International Monetary Conference since 1994, a member of the International Advisory Committee of the Federal Reserve Bank of New York since 2002, of the Trilateral Committee and the NYSE International Board since 2000, the China Development Forum since 2010, the World Economic Forum (WEF) 2015 since 2015, and of the Economic and Social Development Council of the Presidency of the Republic of Brazil (CDES) since 2016. He was a member of the board of directors of the Brazilian Federation of Banks (Fenaban) and the Brazilian Federation of Bank Associations (Febraban) from 1994 to 2017.

Effective Member 04/30/2021 GSM 2022

Alfredo Setubal has a bachelor’s and a postgraduate degree in Business Administration from the Getúlio Vargas Foundation (Brazil), and a graduate specialization course at INSEAD (France). He is the CEO, investor Relations Officer and Vice Chairman of the Board of Directors of Itaúsa. He is also engaged in the activities of investees as a member of the Board of Directors of Itaú Unibanco, Alpargatas, and Duratex – of which he is a Co-Chairman, in addition to being a member of several committees at Itaúsa and investees. Mr. Setubal has worked for over 20 years as an executive at the Capital Markets and Investor Relations areas, with his longest lasting experience at Itaú Unibanco. He is also involved with the work of third sector organizations, as a member of boards of directors and committees of the following entities: Brazilian Association of Publicly-Held Companies (Abrasca), Brazilian Institute of Investors Relations (Ibri), São Paulo Art Museum (Masp), São Paulo Art Biennial Foundation and Fundação Tide Azevedo Setubal, in addition to being the Chief Financial Officer of the São Paulo Museum of Modern Art (MAM).

Effective Member 04/30/2021 GSM 2022

Rodolfo Villela Marino is a business administrator with a bachelor’s degree from the Getúlio Vargas Foundation (Brazil), and has a master’s degree in Development Studies and Economics and Philosophy from the London School of Economics and Political Science (LSE) (UK). He is currently Executive Vice President, and a member of the Board of Directors, of the Disclosure and Trading Committee, and of the Investment Policy Committee of Itaúsa. He also serves as Coordinator of the People and Ethics Committee, and is a member of the Finance, Investment, Corporate Governance and Sustainability and Risk committees of Itaúsa. Mr. Marino has worked with investees as a member of the Board of Directors and Committees of Alpargatas and Duratex. He was a member of the Executive Board, Board of Directors and Committees of other companies of the Conglomerate from 2005 to 2017. He is also involved with the work of third sector organizations and trade associations, and has served as an officer and member of the boards of directors of the following institutions: Sociedade Cultura Artística, Instituto Itaú Cultural, Instituto PDR, São Paulo Cia. de Dança, Young Presidents Organization-YPO/WPO, Brazilian Institute of Corporate Governance (IBGC), Fundação Itaú Social, IEDI - Inst. para Estudos do Desenvolvimento Industrial, Abrasca, Todos pela Educação, Instituto Yandeh, IBÁ - Industria Brasileira de Árvores, and Instituto Unibanco.

Effective Member 04/30/2021 GSM 2022

Edson has a degree in Economics and Business Administration from Fundação Armando Alvares Penteado (FAAP) in 1985 and 1986, respectively, and a Master’s in Business Administration from University of São Paulo (FIA/USP), in 1998. He is currently a effective member of the Board of Directors of Itaúsa, having served as an Alternate Member of the Board of Directors of the company since Apr/2019. He has been Benefits Director at Ambev since Jan/2015, where he also held the positions of Director of Corporate Relations (2011-2014) and Manager of Strategic Planning (2000-2003). He is also a member of the Board of Directors of Fundação Antônio e Helena Zerrenner since May/2018, Executive Director since Jul/2012 and Member of the Advisory Board (2004-2012). Additionally, he was VP Global Finance and Excise Tax at Anheuser-Busch InBev (2009-2011) and Member of the Fiscal Council and Private Pension Institute of AmBev - IAPP (2004-2007).

Independent Effective Member 04/30/2021 GSM 2022

Fernando Marques has a degree in Business Administration from Fundação Getúlio Vargas in São Paulo (1998). He is currently an independent member of the Board of Directors of Itaúsa, having served as an independent member of the Investment Policy Committee of the Company (2008-2013) and member of the Board of Directors of Duratex (2009). He is a partner at H.I.G. Capital since Feb / 2012, having been President for Brazil and Latin America and member of the Fund's Investment Committee. He was an independent member of the Elekeiroz Board of Directors (2010-2013), being coordinator of the People Committee (2010-2013), member of the Governance and Risk Committees (2010-2012) and Disclosure (2011-2012) of the Company. He was also head for Brazil and Latin America and member of the Global Council of General Atlantic (2008-2012) and head of Private Equity and Illiquid Strategies at Grupo Icatu (1997-2008). Fernando has twenty-four years of experience in the Brazilian and Latin American Private Equity and alternative asset markets, having participated in more than 50 transactions in the region in different industries, including Consumer Goods, Services, Health, Media, Entertainment, Telecommunications, Software and Technology, Food and Beverages, Mining, Real Estate, Education, Pulp and Paper, Agribusiness, Retail and Financial Services.He was a Member of the Board of Directors of more than 30 companies in Brazil, including Qualicorp, Mineração Caraíba (currently Ero Copper), ABC Group (currently a division of the Omnicom Group) and Mabel Alimentos (currently a division of PepsiCo), among other companies.

Independent Effective Member 04/30/2021 GSM 2022

Patricia has a degree in Economics from the Pontifícia Universidade Católica do Rio de Janeiro (1989) and an MBA in Finance from Columbia Business Scholl in New York (1995). He is currently an Independent Member of the Board of Directors of Itaúsa. She is a founding partner of Unbox Capital (since Sep/2018) and was a managing director at J.P. Morgan Brasil (1995-2018), in addition to having worked at Accenture as an associate (1989-1993). Patricia is also Director of Grupo Mulheres do Brasil and serves on the Board of the Financial Studies Program at Columbia Business Scholl and on the Board of Columbia University in Brazil. He has over twenty years of experience in Investment Banking, having worked for JP Morgan's Mergers & Acquisitions team in New York and São Paulo and as Head of JP Morgan's Investment Banking and Corporate Banking in Brazil, being responsible for all relationships and transactions with Brazilian and multinational companies. He also has experience in advising companies in strategic mergers, acquisitions and divestitures transactions, and in capitalizations through the raising of debt and IPO.

Independent Effective Member 04/30/2021 GSM 2022

Vicente holds a degree in Civil Engineering from the Federal University of Minas Gerais (1985), and in Petroleum Engineering (1986), from Petróleo Brasileiro S.A. as well as a Master in Business Administration, with an emphasis on Finance (1997), from The Wharton School, University of Pennsylvania. He is currently an independent member of the Board of Directors of Itaúsa. He has been a Senior Partner at McKinsey since 2008, having served in various positions in the company. He was a Leader and responsible for B2B Business Practice for Latin America since 2018, member of the Global Committee for the Election of Partners from External Candidates since 2017, member of the Global Committee of Risks Associated with Serving Customers since 2016, having been a partner responsible for the Office of Brazil (2011-2018), Leader and responsible for the Practice of Advanced Industries in Latin America (2012-2017), Member of the global task force in charge of improving the governance of the company (2015-2016), Member of the Global Committee of Partner Assessment (2009-2014), Member of the global task force charged with reviewing the company's values ??(2011-2012), Leader and responsible for the Practice of Operations in Latin America (2010-2012), Partner (2002-2008), Associate Partner (2000-2002), Project Manager (1999-2000) and Associate (1997-1998); Additionally, he is a member of the Advisory Board of Generation Brasil (since 2020) and of the Wharton Alumni Club in Brazil (since 2016), he is an advisor to MASP - Museum of Art of São Paulo and the Chamber of Commerce Brazil Portugal (since 2015). He also worked in several positions, up to the Head of the Development Sector for Equipment for Use in Deep Water at Petrobras (1985-1997).

Also elected as alternate members are Victório Carlos de Marchi, Ricardo Egydio Setubal and Ricardo Villela Marino. For more information, consult the resolutions of the General Stockholders Meetings.

Internal Charter of the Board of Directors

The Corporate Governance Council was created in 2020, with the primary function of monitoring trends and market benchmarks, including internationally recognized best practices, and new regulations related to corporate governance. Its creation reinforces the Company's integrity and compliance management, in a continuous process of reviewing and updating the internal Corporate Governance Policy.

Itaúsa’s Executive Board counts on the advisory of seven non-statutory councils, composed of managers of the Company, external members and specialists. The members of these councils hold one-year terms of office, which may be renewed, and remain in office until the first meeting of the Board of Directors that elects the Executive Board. The composition of these Councils and the members’ mini curriculum are available in the 12.7/8 item of the Reference Form

The Capital Markets Council reports directly to the Board of Directors and is composed of the Investor Relations Officer in addition to other two to ten people annually appointed by the Board of Directors from among the members of the Board itself, the Executive Board or also professionals from their subsidiaries.

The Council is mainly engaged in managing our disclosure and trading policies, and it is incumbent upon it to also advise the Investor Relations Officer, continuously assess the procedures that must be observed in the disclosure of a material act or fact and in the maintenance of confidentiality of this information, and disclose and share these policies, among other duties.

The Corporate Governance Council was created in 2020, with the primary function of monitoring trends and market benchmarks, including internationally recognized best practices, and new regulations related to corporate governance. Its creation reinforces the Company's integrity and compliance management, in a continuous process of reviewing and updating the internal Corporate Governance Policy.

The Corporate Governance Council participates in internal discussions on topics such as diversity, equity and social responsibility, in addition to providing subsidies for the dissemination of high standards and good governance practices among the portfolio companies.

It reviews and recommends the approval of financial statements to the Board of Directors, proposes allocation of net income for the year and distribution of earnings to stockholders, defines a proper liquidity level, approves annual budgets, analyze funding options, monitors investees’ financial leverage, and proposes share buyback and allocation of investments.

Set up in 2019, it is aimed at guiding the operations of the companies in which Itaúsa make investments by defining major social and environmental management guidelines and identifying opportunities to improve the social impact of its actions.

Its impact is felt through its participation in governance bodies, boards and committees of investees.

It defines the main guidelines for prospecting new investment opportunities, assesses Itaúsa's stance before business opportunities, analyzes and discusses due diligence outcomes, defines financial, contractual and governance conditions for completing a given acquisition, and discusses the investees’ strategic issues.

It defines the main risk control and management guidelines, in line with the appetite risk established by the Board of Directors, approves the risk management process methodology and, based on the work developed by the Compliance and Corporate Risk department and the outsourced internal auditors, analyzes the issues raised and the action plans to be adopted to mitigate any identified risks, determines guidelines, and works together with the Compliance and Corporate Risk department in the management of the Company’s compliance and risks.

It defines the main guidelines related to people policies, assesses the content of Itaúsa’s Code of Conduct and resolves on its improvement, and analyzes the Reporting Channel indicators, the work carried out and any significant misconduct developments.

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