PagSeguro Digital Ltd. (NYSE:PAGS) announced that in a Board of Directors’ meeting held on April 13, 2018, Mr. Marcos Lisboa was appointed to the Board of Directors and, at the same meeting, elected to the Audit Committee. Mr. Lisboa is independent under the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) and the listing standards of the New York Stock Exchange.
Mr. Lisboa has a Ph.D in Economics from the University of Pennsylvania. He was an assistant professor in the Economics department at Stanford University from 1996 to 1998 and an assistant professor at the School of Economics of Getulio Vargas Foundation (Fundação Getulio Vargas) from 1998 to 2002. Since 2013, he has worked at Insper, a School of business, economics and engineering, initially as vice-president and, since 2015, as president.
From 2003 to 2005, Mr. Lisboa served as Secretary of Economic Policy for the Brazilian Federal Ministry of Finance. He also served as president of the Instituto de Resseguros do Brasil from 2005 to 2006 and, from 2006 to 2013, he worked at Itaú-Unibanco, where he served as vice-president from 2009 to 2013.
With Mr. Lisboa’s appointment, PagSeguro Digital Ltd.’s Board members are Luis Frias, Maria Judith de Brito, Eduardo Alcaro, Ricardo Dutra and the independent members Noemia Gushiken and Marcos Lisboa. The Audit Committee consists of three members, being the two independent Board members, Ms. Gushiken and Mr. Lisboa, and Mr. Alcaro, who serves as the president of the Audit Committee and also satisfies the criteria of an audit committee financial expert as set forth under the applicable rules of the SEC.
PagSeguro Digital is a disruptive provider of financial technology solutions focused primarily on micro-merchants, small companies and medium-sized companies in Brazil. PagSeguro Digital’s business model covers all of the following five pillars:
• Multiple digital payment solutions;
• In-person payments via point of sale (POS) devices that PagSeguro Digital sell to merchants;
• Free digital accounts;
• Issuer of prepaid cards to clients for spending or withdrawing account balances; and
• Operating as an acquirer.
PagSeguro Digital is an UOL Group Company that provides an easy, safe and hassle-free way of accepting payments, where its clients can transact and manage their cash, without the need to open a bank account. PagSeguro Digital’s end-to-end digital ecosystem enables its customers to accept a wide range of online and in-person payment methods, including credit cards, debit cards, meal voucher cards, boletos, bank transfers, bank debits and cash deposits.
PagSeguro Digital’s mission is to disrupt and democratize financial services in Brazil, a concentrated, underpenetrated and high interest rate market, by providing an end-to-end digital ecosystem that is safe, affordable, simple and mobile-first for both merchants and consumers. For more information visit http://investors.pagseguro.com.