{"id":943,"date":"2016-11-08T11:19:00","date_gmt":"2016-11-08T13:19:00","guid":{"rendered":"https:\/\/migr-pplaparticipations.mz-sites.com\/ppla-news\/material-fact-governance-changes\/"},"modified":"2016-11-08T11:19:00","modified_gmt":"2016-11-08T13:19:00","slug":"material-fact-governance-changes","status":"publish","type":"ppla-news","link":"https:\/\/ri.pplaparticipations.com\/en\/ppla-news\/material-fact-governance-changes\/","title":{"rendered":"Material Fact – Governance Changes"},"content":{"rendered":"

Material Fact – Governance Changes<\/strong><\/p>\n

S\u00e3o Paulo, November 08, 2016 – Banco BTG Pactual S.A. (“BTG Pactual”) and BTG Pactual Participations Ltd. (“BTGP” and, jointly with the Bank, “Companies”), in compliance with CVM Rule 358 of January 3, 2002, as amended, hereby inform their respective shareholders and the securities market that, as the Companies have completed their strategic repositioning – as disclosed to the market in their recent announcements -, it is appropriate to make some changes relating to their governance, as described below:<\/p>\n

(a) James Oliveira, currently a member of the controlling shareholder\u2019s group (Top Seven Partners) decided to leave the Companies at the end of the year and will be replaced by Jos\u00e9 Zitelmann, the CEO of Latam Asset Management. The Top Seven Partners will therefore consist of the following partners:<\/p>\n

 <\/p>\n

\u2022 Persio Arida
\n\u2022 Marcelo Kalim
\n\u2022 Guilherme Paes
\n\u2022 Antonio Porto
\n\u2022 Roberto Sallouti
\n\u2022 Renato Santos
\n\u2022 Jos\u00e9 Zitelmann<\/p>\n

(b) With the normalization of the business, the Board of Directors of the Companies will be amended to reflect Persio Arida\u2019s decision to step down as Executive Chairman to dedicate more time to his intellectual pursuits. The new Chairman will be Marcelo Kalim. Roberto Sallouti will become the sole CEO of BTG Pactual, and Huw Jenkins will remain as Vice-Chairman of the Board. Persio will remain a member of the Board and of the Top Seven Partners, but without executive responsibilities.<\/p>\n

(c) An additional change to the Board is the election of the Partner Guillermo Ortiz, former Governor of the Central Bank and Finance Minister of Mexico. Guillermo has been with BTG Pactual since January of this year, helping develop the business in Mexico and LatAm. His participation on the Board emphasizes the strategic importance of LatAm to BTG Pactual.<\/p>\n

The changes above referred are subject to the applicable shareholders\u2019 and regulatory approvals.<\/p>\n

To access the PDF version\u00a0click here<\/a><\/p>\n

Investor Relations Department
\nEmail:\u00a0ri@btgpactual.com<\/a>
\nPhone: +55 (11) 3383-2000
\nFax: +55 (11) 3383-2001<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-943","ppla-news","type-ppla-news","status-publish","hentry"],"yoast_head":"\nMaterial Fact - Governance Changes - PPLA Participations<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ri.pplaparticipations.com\/en\/ppla-news\/material-fact-governance-changes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Material Fact - Governance Changes - PPLA Participations\" \/>\n<meta property=\"og:description\" content=\"Material Fact – Governance Changes S\u00e3o Paulo, November 08, 2016 – Banco BTG Pactual S.A. (“BTG Pactual”) and BTG Pactual Participations Ltd. 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