The much-awaited announcement to the change in management was finally made, during which Bradesco Bank’s Luiz Carlos Trabuco gave out the name of the President that would be taking over the bank. Octavio de Lazari is the person that will be taking over the company, and he will be able to fully start performing his functions after the annual shareholders meeting has been held. He will replace Trabuco as the President, along with his seat on the board of directors. The meeting is set to take place on March 12th.
The change in leadership that Bradesco is now conducting commenced when the previous chairperson at the company retired, making Trabuco the new chairman of the company. However, Trabuco previously stood as the President of the company, which caused his position to thereby be left vacant, which will now be filled out by Octavio de Lazari. Bradesco was required to make an announcement of the new President thirty days before the shareholders meeting so as to notify all those who would be attending. Until the meeting has commenced, Trabuco will still have to carry out the position of President, along with his new role as the Chairman of the company.
Even though it may seem like Trabuco has had a lot resting on his shoulders for the past few months, it has been something that the board knew he would be capable of. Trabuco has spent his entire professional life working at Bradesco for almost 40 years and knows the company inside out. He understands every aspect of Bradesco and what is needed for the development of the bank.
Trabuco was first asked to take over the position of President of the company in 2010, during which Bradesco stood as the second largest private bank in Brazil. Getting the company back to the number one spot was an essential goal for the company, but Trabuco decided to shift his focus towards development of all the services that the bank offers to the customers who come to them. During this time, the number of Bradesco outlets throughout Brazil grew significantly, and the company once again rose to the number one spot in the banking industry. There is no doubt that Trabuco’s contribution to the company is immense and is bound to improve as he takes on the position of chairman of Bradesco.
Trabuco and Lazari both have a lot of things in common in terms of professional development. For one, both the leaders started working for Bradesco when they were just teenagers and started working for the company as bank tellers. Both the executives also served as the CEO of Bradesco Seguros at one point and were essential for the growth of the company as a whole.
During the past few months, there has been a lot of speculation throughout the Brazilian economy about who the president of the company might be. There were a number of candidates who were eligible for the position, but Bradesco’s board of directors saw Lazari as the person who was most fit for the job.
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