Bradesco Appoints New Chairman, Luiz Carlos Trabuco Takes Over

During 2017, Bradesco underwent a number of significant changes that forced the company into a position wherein its board of directors had to undertake substantial managerial decisions. In October last year, Lazaro Brandao, the chairman of Bradesco decided that he would step down from his position. Brandao had been working in the position of chairman of Bradesco for the past two decades and had contributed immensely to the growth of the company. As the chairman of Bradesco, he held one of the most vital positions, which was now going to be left vacant as a result of his leaving. The board of directors knew that to ensure no abruptions to the work that Bradesco did, they would have to elect a new chairperson to the company at the earliest. Since the company’s inception, they have always believed in choosing only members who already hold positions within the ranks of the company. No outsider is allowed to take on significant roles at Bradesco.

Bradesco had a number of people who would be able to fit the position of chairman of the bank well, and none were quite as good as the person who prior to the managerial changes, held the post of President of Bradesco. Luiz Carlos Trabuco had been serving as President since 2009 and was chosen to be the new chairman of Bradesco. It was a unanimous decision undertaken by the board of directors and was one which was taken after seeing the success and development that Trabuco brought to Bradesco.

Read more on Bloomberg.com

Trabuco had been a member of Bradesco since he was thirteen years old, working as a cashier at one of the outlets that Bradesco had in his city. Being a young boy in the banking sector, there was a lot for him to learn and a lot of growing up that he needed to do. In spite of his young age, he gained as much experience as he could so that he could take on better and more prestigious positions within the company. Eventually, he made it up the ranks and was ultimately given the post of CEO of Bradesco Seguros.

As Trabuco was being given the post of chairman, there was another problem that the board at Bradesco would now have to face, which is finding a new President to the company. Bradesco doesn’t allow one single member to hold two positions within the company and chooses to go in for different people to ensure that every position within the company is performed with the utmost efficiency. To this effect, the new President that the board of directors decided to choose was Octavio de Lazari.

Octavio de Lazari was only allowed to take on his position after the annual shareholders meeting, which was held in the second week of March 2018. Until then, Trabuco was asked to perform the role of the President of the company while also being the chairman of one of the biggest private banks in the entire country.

Find more about Luiz Carlos Trabuco: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/

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