XP now has an independent majority on the Board of Directors; Announces the new CFO

XP Inc. announced announced changes to its Board of Directors, adding four new independent members, who now constitute the majority of the Board of Directors blackboard.

With these appointments, XP now has five independent directors and four are appointed by the Controller, including Guilherme Benchimol himself.

Brazil's largest financial brokerage said the changes aim to “increase its ability to provide independent supervision and strategic advice” and achieve skills integration.

XP also announced a transition for CFO Bruno Constantinou, who will leave his position to remain on the board. The new CFO will be Victor Mansour, current Vice President of Finance, who has been with the company since 2012 and reports directly to Constantinou.

The new independent members of the Board of Directors are:

Oscar Rodriguez Herrerowho has nearly three decades of experience in risk management, private equity and strategic consulting, will be able to contribute to credit and risk management.

Oscar was Director of Risk at Santander's Global Wholesale Bank, and until the beginning of this year was a member of Nubank's Executive Risk Committee.

Jose Luiz Acar Pedroformer Executive Vice President of BCN and Bradesco, former partner and member of the Executive Committee of BTG Pactual, former CEO of Banco Pan and former CEO of Banco Safra.

Joao Teixeiraformer CEO of Copersucar and Banco Votorantim.

Melissa Wernick, who has worked at Kraft Heinz since 2013. She serves as global chief people officer and leads the company's diversity and inclusion efforts. Melissa specializes in human resources, people management and compensation in multinational organizations.

The fifth is independent martin escobari, From General Atlantic, which has been on the XP board since 2013.

Fabricio Almeida, Luiz Felipe Calabro, Frederico Carvalho and Christiana Pereira leave the Board of Directors.

The non-independent directors are Benchimol, Gabriel Leal, a partner at XP for 17 years; Bernardo Amaral, Partner and former Director of Risk, Legal and Compliance at the firm; and Bruno Constantinou, who has been CFO for five years.

Geraldo Samor