Sabesp - Material Fact: Change of Chief Financial Officer and Investor Relations Officer

Rhea-AI Summary

On June 24, 2021, Companhia de Saneamento Básico do Estado de São Paulo – Sabesp announced the election of Mr. Osvaldo Garcia as Chief Financial Officer and Investor Relations Officer, effective July 1, 2021. Mr. Garcia brings extensive experience, having previously held prominent roles including Chairman of Metrô São Paulo and Chief Executive Officer at Caixa Participações S/A. His background also includes significant positions in various public works and environmental sanitation sectors, highlighting his expertise in water infrastructure management.

Positive

• Mr. Osvaldo Garcia's appointment may enhance investor confidence due to his extensive background and experience in financial and operational leadership roles.

Negative

• None.

SÃO PAULO, June 24, 2021 /PRNewswire/ -- Companhia de Saneamento Básico do Estado de São Paulo – Sabesp ("Company"), in compliance with provisions of Rule No. 358 issued by the Brazilian Securities and Exchange Commission ("CVM"), dated as of January 3, 2002, as amended, hereby informs its shareholders and the market in general that, the Board of Directors, at a meeting held today, elected Mr. Osvaldo Garcia to hold the position of Chief Financial Officer and Investor Relations Officer as of July 1, 2021.

Mr. Osvaldo Garcia holds a bachelor's degree in Civil Engineering from Faculdade de Engenharia of Universidade Federal de Juiz de Fora. He has been Chairman of the Board of Directors of Metrô São Paulo since 2019. He was Chief Executive Officer of Caixa Participações S/A (from September, 2016 to January, 2019), Advisor to the CEO in Caixa Econômica Federal for strategic affairs (from June, 2016 to September, 2016), Nacional Secretary for Water Infrastructure at Ministry of National Integration (from January, 2015 to May, 2016). National Secretary for Environmental Sanitation of the Ministry of Cities (from June, 2012 to January, 2015). Vice President of Housing at the São Paulo Association of Public Works Entrepreneurs – APEOP (from December, 2007 to May, 2012). Technical Director, Construction Coordinator and Production Engineer at Múltipla Engenharia Ltda (from January, 1988 to May, 2012). He participated in several study groups, commissions and representations, including: Member of the Board of Directors of Banco Pan (2018 to 2019), Caixa Imóveis (2017-2019), Caixa Participações S/A (2016 to 2019), Titular Board Member of the Hydrographic Basins Committee of the Piracicaba, Capivari and Jundiaí Rivers (2015-2016), President of the Management Committee of Interáguas Program (2014-2016), Representative of SNSA/MCidades in the World Water Council (2012-2014) and Titular Board Member of National Water Resources Council (2015-2016) and of the Cities Council (2012-2014).

IR Contacts:
Mario Arruda Sampaio – (55 11) 3388-8664 (maasampaio@sabesp.com.br)
Angela Beatriz Airoldi – (55 11) 3388-8793 (abairoldi@sabesp.com.br)

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SOURCE Sabesp

FAQ

Who has been appointed as the new CFO of Sabesp?

Mr. Osvaldo Garcia has been appointed as the new Chief Financial Officer and Investor Relations Officer of Sabesp effective July 1, 2021.

What experience does Osvaldo Garcia have?

Osvaldo Garcia has held positions such as CEO of Caixa Participações S/A and Chairman of Metrô São Paulo, along with roles in government related to water infrastructure.

When was Osvaldo Garcia's appointment announced?

Osvaldo Garcia's appointment was announced on June 24, 2021.

What impact might Garcia's appointment have on Sabesp's stock?

Garcia's extensive experience could potentially enhance investor confidence, which may positively influence Sabesp's stock performance.