StoneCo (STNE), a fintech that helps merchants conduct business across multiple channels, named Mateus Scherer, its current chief financial officer and investor relations officer, to succeed Pedro Zinner as CEO, the company said Wednesday.
StoneCo (STNE) stock dipped 5.0% in premarket trading.
The current CEO notified the company’s board of his intention to step down from CEO as of March for personal reasons after serving in that role for three years. During his tenure, Zinner executed a strategic pivot, including divesting non-core assets such as Linx, the implementation of streamlining initiatives, the establishment of a disciplined capital allocation framework, and progress in evolving the company from a pure payments provider into a comprehensive financial services platform for Brazilian entrepreneurs, the company said.
The board intends to nominate Zinner for election to the board at the next general shareholders’ meeting. He’s expected to be appointed chairman. The current chairman, Mauricio Luchetti, is expected to return to his role of board member.
Diego Salgado, currently treasury officer and a member of the executive committee, will get expanded responsibilities, including the broader finance agenda and the role of chief financial officer and investor relations officer.
Lia Matos, chief strategy and marketing officer, has decided to leave the company. Sandro Bassili is expected to assume the role of chief operating officer of Stone (STNE).