TOTVS

Investor Relations

Personnel and Compensation Committee

 

Compensation Committee / Personnel

Name Position
Pedro Moreira Salles Committee Chairman
In the last 5 years, Mr. Salles served as executive vice president of Itaú Unibanco Holding and is currently Chairman of the Board of Directors of Itaú Unibanco Holding SA, in addition to being CEO of Brazil Warrant SA, the Moreira Salles Group holding, and president of Cambuhy Investments. He began working at Unibanco in 1988 as a Board member, who came to preside in 1997, and in April 2004 was elected executive president of Unibanco, remaining until 2008. Mr. Salles is a magna cum laude graduate in economics and history the University of California. He attended the master's degree in International Relations from Yale University, USA, and the Owners & Presidents Management Program in Harvard University.
Flávio Balestrin de Paiva Committee Member
Mr. Balestrin is responsible for the areas of Marketing, Channels and Human Relations at TOTVS. He works for TOTVS for more than 15 years, starting his career as Director of Corporate Communications and Human Resources. In 2008 he became director of TOTVS 'Market Strategy and in 2013 he also assumed the company's Marketing Office for Brazil, Latin America and International Markets. At the beginning of 2014, he was also responsible for the Alliances and Partnerships area and in January 2016 he re-assumed the Human Relations area. Previously, he developed his career at Itaú-Unibanco and Accenture. Graduated in Business Administration from Fundação Getúlio Vargas and in Law from the University of São Paulo (USP), he has attended several executive training programs and specialization in Human Resources and Marketing at institutions such as FGV, IBMEC, Dom Cabral Foundation and Kellogg School of Management (USA).
Laércio José de Lucena Cosentino Committee Member
In the last 5 years, Mr. Cosentino acted as the TOTVS Chairman and TOTVS CEO. Previously, he was director of SIGA, between 1978 and 1983, and founded the TOTVS in 1983. Mr. Cosentino is the author of “Dbase II and III”, “Windows”, “Brazil is not Risk, it is Opportunity” and “Genoma Enterprise”. He is currently Member of the Deliberative Council of the Brazilian Association of Information and Communication Technology Companies (Brasscom), independent member of BMFBovespa Board of Directors and President of Endeavor and Mendelics Board of Directors. He is graduated in Electric Engineering by Escola Politécnica de Engenharia da Universidade de São Paulo.
Paulo Eduardo Saliby Committee Member
Member of the Personnel and Remuneration Committee of TOTVS, and Log-In. Paul Saliby is Socio-Founder of SalibyRH, acts as a volunteer mentor at Endeavor Institute Brazil since August 2009, and participates as a member of WorldatWork (formerly American Compensation Association). Prior to founding SalibyRH acquired executive experience in Towers Perrin (now Towers Watson) and Procter & Gamble, in addition to having participated in the Compensation Committee in Gropo Positive in Point Energy and Agrifirma. Graduated in Business Administration from the Getulio Vargas Foundation in São Paulo, he attended Management Global Business at the University of Texas at Austin, and did an extension course in Finance and Accounting for the Continuing Education Program of FGV-SP.


The Personnel and Compensation Committee advises the Board of Directors in establishing the terms of compensation and other benefits for executive officers and board of directors. It suggests the Management compensation based on the software industry standards, monitors the remuneration process and informs the Board if the compensation is not in line with industry standards.

It is composed of four members - an external member, a member of the Board of Directors, the Chief Executive Officer and the Human Relations Officer. The members are elected for a 2-year term and the Committee meets whenever necessary.

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