Lazaro Brandao has been the sitting president of the board of directors of Bradesco Bank since 1990. At the ripe age of 91, last year he decided it was time to retire. His exit meant a big change in the leadership arrangement at Bradesco.
His vacancy is being filled by the Luiz Carlos Trabuco Cappi, who according to company policy had to vacate the offices of president and CEO of the company by next year. This company policy stated that the company CEO could not be over the age of 65. Trabuco has been an especially good CEO so there was some serious consideration of lifting this regulation in his case.
But in the end, Trabuco decided it was time to leave the position. In turn, his former position is even now in the process of being filled by Octavio de Lazari Junior, formerly one of seven Bradesco Bank vice presidents and the president of Bradesco Seguros according to banco.bradesco. The process of selecting a successor for Trabuco was very intensive. Under consideration as potential candidates were the company’s seven vice presidents. The five main vice presidents under consideration were Lazari, Maurice Minas, Alexandre Gluher, Jose Pancini, and Marcelo Noronha.
Their selecting a new president from among their present vice presidents was not at all unusual for Bradesco. It has been a tradition for the company to choose CEO successors from among its current vice presidents. After much deliberation, Bradesco’s Succession and Appointment Committee selected Lazari. He is now officially assuming the position following the Ordinary General Meeting on this past March 12. Lazari will lead Bradesco Bank which currently controls around $1.3 trillion in assets and has a credit portfolio of about $493 billion and the second largest bank in Brazil.
The Bradesco Board consists of eight former executives and members of the Aguiar family. The future goal of the board is to fully cooperate with the new CEO in his plan to grow the company even more than its already enormous size. The new CEO Lazari hopes that he can live up to the standard set by Trabuco whose increased the size of the bank substantially by leading it to acquire and absorb HSBC.
Search more about Luiz Carlos Trabuco Cappi: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml