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SAO PAULO (Reuters) – Banco do Brasil announced on Thursday the resignation of Hélio Magalhães and José Guimarães Monforte from the positions of members of the company’s board of directors.
The departure of Magalhães, who was president of the council, takes effect from Friday, while that of Monforte, as an independent member of the collegiate, is valid from this Thursday. The resignation comes after both, in addition to advisers Luiz Spinola and Paulo Roberto Evangelista de Lima, affirmed that the nominee by President Jair Bolsonaro to head the bank, Fausto Ribeiro, meets the legal requirements, but has no experience managerial for this.
Read also:
• BB: Committee approves the appointment of Fausto de Andrade Ribeiro for the presidency
Bolsonaro appointed Ribeiro in March to replace André Brandão, who resigned after Bolsonaro threatened to resign, following a cost-cutting plan at BB, which included branch closures and layoffs.
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