StoneCo Ltd. Announces New Members of the Board of Directors and the Creation of New Board Committees
May 17, 2021 at 04:05 pm EDT
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StoneCo Ltd. announced that pursuant to written resolutions of its Board of Directors dated May 10, 2021, Mr. Pedro Franceschi and Mr. Mateus Scherer Schwening were appointed to the Board of Directors, effective May 17, 2021. Pedro Franceschi is Co-Founder & Co-CEO of Brex. Mateus Scherer Schwening has been a partner at StoneCo Ltd. since 2015. At StoneCo, he has been responsible for Treasury, Capital Allocation and Strategic Projects in connection with new investments, mergers and acquisition, capital raises, compensation, among others. Prior to joining the company, he served as equity analyst for Nucleo Capital, from 2013 to 2015. Mr. Scherer completed a Bachelor of Science (BS) in Economics at Insper. With Mr. Franceschi’s and Mr. Scherer’s appointments, Stone’s current Board members are Mr. André Street, Mr. Eduardo Cunha Monnerat Solon de Pontes and Mr. Thomas A. Patterson, Mr. Ali Mazanderani, Mr. Roberto Moses Thompson Motta, Mr. Sílvio José Morais, Ms. Luciana Aguiar, Mr. Franceschi and Mr. Scherer. At the same meeting of the Board of Directors, two new Board Committees were created, namely the Technology Committee, responsible for strategic technology and cyber-risks decisions, composed by Mr. Scherer, Mr. Franceschi and Eduardo Pontes; and the Related Parties Committee, responsible for the approval of transactions involving related parties of the Company, composed by Mr. Thomas Patterson, Mr. Roberto Thompson Motta and Mr. Sílvio José Morais. Additionally, the Board approved some additional changes in the composition of its Finance Committee and Compensation Committee, which shall now be composed of Mr. Roberto Thompson Motta, Mr. Thomas Patterson and Mr. Scherer (Finance Committee), and Mr. André Street, Mr. Roberto Thompson Motta and Mr. Scherer (Compensation Committee). The composition of the Company’s Audit Committee remains unchanged.
StoneCo Ltd. is a provider of financial technology and software solutions. The Company has designed its cloud-based technology platform, namely the Stone Business Model, for its clients to connect, get paid and grow their businesses. The Companyâs segments include financial services and software. In financial services, it offers payments, digital banking and credit solutions, focused mainly on micro, small and medium businesses (MSMBs). In software, it offers point of sale (POS) and enterprise resource planning (ERP) solutions for different retail and service verticals, customer relationship management (CRM), engagement tools, e-commerce and Omnichannel solutions, among others. It also provides digital product enhancements to help its merchants improve their consumersâ experience, such as its split-payment processing, multi-payment processing, recurring payments for subscriptions, and one-click buy functionality. It provides its clients with store, life and health insurance solutions.