Arco Announces Appointment of New Director

Rhea-AI Summary

Arco Platform Limited (Nasdaq: ARCE) has appointed Paula Soares de Sá Cavalcante to its Board of Directors. This strategic move is part of a long-term succession plan following the tenure of Mr. Oto de Sá Cavalcante, ensuring the founding family’s commitment to the company. Ms. Cavalcante, with a robust educational background in Business Administration and Finance, previously worked at Deloitte. The board now includes 3 members from the controlling family and 7 independent directors, aiming to enhance decision-making and accelerate Arco's mission of delivering quality education.

Positive

• Appointment of Paula Soares de Sá Cavalcante enhances board diversity and skills.
• Strengthens family commitment to long-term strategy and continuity.

Negative

• Concerns about potential continuity and experience gaps in leadership.

Arco Platform Limited, or Arco (Nasdaq: ARCE), announced today that it has appointed Paula Soares de Sá Cavalcante to its Board of Directors, effective as of today.

The appointment of Ms. Cavalcante, a shareholder from Arco’s founding family, is part of a long-term succession plan for Mr. Oto de Sá Cavalcante and reinforces the family’s long-term commitment to Arco.

Ms. Cavalcante holds a bachelor’s degree in Business Administration from the University of Fortaleza and a postgraduate degree in Finance from Insper. She worked at Deloitte in the auditing and mergers and acquisitions areas for 4 years.

Arco’s Board of Directors is now composed of three members of the controlling family, including its non-executive Chairman, its CEO, and Ms. Cavalcante, and seven independent members, resulting in a diversity of skills and experience to enhance Arco’s decision-making and accelerate its mission of delivering high quality education at scale:

Name		Position
Oto Brasil de Sá Cavalcante		Chairman
Ari de Sá Cavalcante Neto		Director
Paula Soares de Sá Cavalcante		Director
Beatriz Amary		Independent Director
Carla Schmitzberger		Independent Director
David Peixoto dos Santos		Independent Director*
Edward Ruiz		Independent Director*
Martin Escobari		Independent Director
Pablo Doberti		Independent Director*
Stelleo Tolda		Independent Director

* Member of Arco’s Audit Committee.

About Arco Platform Limited (Nasdaq: ARCE)

Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience with while enabling schools to thrive.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Arco’s Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. Therefore, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Arco does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005943/en/

FAQ

Who is Paula Soares de Sá Cavalcante?

Paula Soares de Sá Cavalcante is the newly appointed director on Arco Platform Limited's Board of Directors, part of the founding family.

What is the significance of Ms. Cavalcante's appointment for Arco (ARCE)?

Her appointment is part of a succession plan that reinforces the family’s commitment to the company and enhances board diversity.

How does the new board composition affect Arco's decision-making?

The new board structure includes three controlling family members and seven independent directors, which improves diversity of perspectives in decisions.