Saturday, October 1

Brazil’s Cielo picks Mastercard executive as new CEO


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SAO PAULO — Brazilian payment processor Cielo SA on Tuesday appointed Estanislau Bassols as its new chief executive, the company said in a securities filing.

Cielo’s board of directors will meet on Sept. 1 to confirm Bassols as the new chief executive, but he will only take office after a separate approval by Brazil’s central bank, according to the filing.

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Bassols has served as Mastercard country manager for Brazil for just under two years, and will formally leave that post at the end of August.

In its own statement issued on Tuesday, Mastercard said Marcelo Tangioni will succeed Bassols as the new Brazil country manager. (Reporting by Peter Frontini; Editing by David Alire Garcia and Chris Reese)



financialpost.com