The Lula government will present the first CVM nomination after the director’s resignation

President’s government Luiz Inacio Lula da Silva (PT) shall make its first appointment to the CVM (Securities and Exchange Commission) Collective in June, to fill the director position vacancy Alexandre Costa Rangel. The second nomination should take place in December, this time for office Flavia Berlingerowhich will expire.

In this position for nearly 3 years, Alexander will leave the council on June 2, according to the authority. His term expires on December 31, 2024.

Alexander was appointed in 2020 by the then president Jair Bolsonaro (PL) and assumed power in November of the same year, succeeding Carlos Alberto Rebelo Sobrinho.

The candidate nominated by the President is subject to a hearing in the CAE (Committee on Economic Affairs). The name is then voted on by members of Congress.

to The power is 360CVM reports that the director resigned for personal reasons and that he will now hold a position in the governance department of the OECD (Organization for Economic Co-operation and Development), in addition to being a researcher at the University of Paris 2.

This is the full text of the note sent to The power is 360:

Director Aleksandr Rangel will remain with CVM until June 2, 2023.

“In addition, we inform you that Alexandre Rangel requested dismissal for personal reasons. He will hold a position in the Governance Department of the Organization for Economic Co-operation and Development (OECD), as well as a researcher at the University of Paris II.”