Fabio Barbosa will be resigning as Chairman of the board of directors at Banco Santander Brasil, The Wall Street Journal reports. He will now become president of Abril Publishing Group.
Barbosa will be replaced by Celso Giacometti, who has been a member of the Santander Brasil board since April 2010. Santander’s CEO Marcial Portela will work as temporary board Chairman until Giacometti gets all the necessary approvals. Barbosa is also Chairman of Brazilian Federation of Banks.
Click here for the story from The Wall Street Journal.