July 28, 2020
Banco do Brasil CEO Rubem Novaes has submitted a letter of the resignation, asking to leave to top job at the state-owned bank sometime next month, according to a securities filing on Friday.
Novaes decided to leave because he thinks Banco do Brasil "needs to be renovated to face the future challenges of innovation in the banking industry," the bank said in the filing.
According to press reports, Banco do Brasil Chairman Hélio Magalhães, Caixa Econômica Federal CEO Pedro Guimarães or Walter Mali
Rubem Novaes, a proponent to privatize the state-owned lender, plans to steps down next month