StoneCo Announces Forthcoming Board of Directors Changes - Seite 2

"As it approaches its 11th anniversary, Stone has emerged into one of Brazil's most esteemed companies, thanks to its unwavering commitment to supporting small business entrepreneurs across the country. Despite facing challenges, our resilient and determined team has consistently navigated through crises, emerging stronger each time. Today, Stone serves over 3.5 million clients nationwide, with transactions exceeding 408 billion reais in 2023 alone.

From its inception, Stone has played a pivotal role in the evolution of the Brazilian economy. The company has significantly influenced the credit card industry by fostering competition, resulting in an impressive reduction in the average merchant discount rate for small businesses, alongside a substantial decrease in the cost of receivables financing.

To me, Stone symbolizes a tangible form of social contribution that companies should mirror. With a positive impact on thousands of direct and indirect employees, coupled with significant investments in technology, and software development, driving enhanced productivity across the nation.

While not continuing in my role as board director, my commitment as a long-term shareholder, alongside my partners, remains unwavering. I have full confidence in our team and firmly believe that Stone will continue to prioritize its clients, team, and social impact, ultimately yielding superior long-term returns for our shareholders," he adds.

“As I finalize my cycle at Stone as part of the Board, I am grateful for the opportunity to collaborate with such extraordinary individuals, with André Street and the entire Stone team. It´s heartening to depart amidst such a positive transition for the company, knowing that the seeds of our collaboration will continue to flourish in the capable hands of those who remain. I leave with appreciation for the experiences shared and I am confident in the continued success of the company,” comments Conrado Engel.

With the AGM marking their departure, we extend our sincere gratitude to André, Conrado and Patricia for their invaluable contributions throughout their tenure. Their dedication has been a cornerstone of our success. As they embark on new journeys and transition from their current roles, we eagerly anticipate the next chapter of Stone's journey.

About the recommended candidates to the Board of Directors

Mauricio Luchetti

Mauricio is an independent member of the YDUQS Board of Directors where he coordinates the People and Governance Committee and a member of the Monitoring and Performance Committee. He is also an independent member of the Board of Directors of Agrogalaxy, where he coordinates the People Committee and participates in the Audit Committee. Mr. Luchetti is also an independent member of the Board of Directors of Construtora Tenda and coordinates the People Committee. He was an independent member of the Boards of Directors of others publicly held Companies of JBS S.A., Taesa S.A, Tempo Assist, Mangels and Nutriplant. From 1985 to 2003, he was part of the beverage company Ambev S.A. where he held positions as executive of People and Management and Regional executive of Operations. From 2003 to 2006, he worked at the Votorantim S.A. where he served as Corporate Director at Holding VPAR and as COO at Votorantim Cimentos S.A. He has also been a partner at Galicia Investimentos since 2007. Mr Luchetti holds a bachelor’s degree in Business.