Banco da Amazônia swears in new board member

Genival Francisco assumes the post at Banco da Amazônia in independent membership, appointment that answers the call of the State Law.
19/07/2018 18h01 - Updated 19/07/2018 18h01
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The financial advisor, Genival Francisco da Silva, He joined the Board of Directors (CONSAD) the Banco da Amazônia, in Belem, this Thursday (19).

Genival Francisco da Silva assumes the post at Banco da Amazônia in independent membership, appointment that meets the provisions of Law No. 13.303, the so-called State of Law, enacted by the federal government in 30 June 2016. Considered a normative evolution within the Administrative Law, the new law came to regulate the legal status of public companies, joint stock companies, and its subsidiaries, within the Union, States, Federal District and municipalities.

Postgraduate degree in Advanced Management from Harvard University (USA) and Strategic Studies from the University of São Paulo (USP), the new member of CONSAD was born in São Paulo and has extensive experience in the financial sector, highlighting the strategic planning areas, corporate reorganization and implementation of corporate governance.

The State of the Law provides that the Boards of Directors of these organizations must be composed, no minimum, by 25% independent members or at least one, if it is decided by cumulative voting college of minority shareholders. In the case of Banco da Amazônia, which currently has six members in CONSAD, the appointment of the new board meets the provisions in the legislation percentage.

According to the new law, of state statutes's and its subsidiaries must comply with the corporate governance rules, transparency and structures, as well as risk management practices and internal control. It is up to the independent adviser has no relationship with the public company or a joint stock company for which it was designated, nor have kept, the last three years, relationship of any nature with the institution to not compromise their independence.

Besides Genival Francisco da Silva, integrate CONSAD of Banco da Amazônia: Carlos Augusto Moreira Araújo (President), Ivandré Montiel da Silva and José de Souza Valdecir Tose (President of Banco da Amazônia), members appointed by the Ministry of Finance; Fabio Ribeiro Servant, appointed by the Ministry of Planning, Development and Management; Alexandre Pedercini Issa, representing the minority shareholders; and Wilson Carvalho da Silva Junior, employee representative.

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