Arco Platform Limited, or Arco (Nasdaq: ARCE), announces that Mr. Pablo Doberti, board member since August 2019, and Mr. David Peixoto, board member since August 2020, have submitted their resignation letters as members of the Board of Directors and, consequently, as members of the Audit Committee, effective as of today.
The announcement is part of a renewal process initiated in the beginning of the year to promote new insights on the business environments and the Company’s strategy.
“The Board of Directors and myself would like to extend our warmest thanks to Mr. Doberti and Mr. Peixoto for the significant contribution they have made to Arco’s mission during their period of office,” said Ari de Sá Neto, Arco’s founder and Chief Executive Officer.
Arco’s Board of Directors is now composed of three members of the controlling family, including its non-executive Chairman and its CEO, and five independent members, resulting in a diversity of skills and experience to enhance Arco’s decision-making and accelerate its mission of delivering high quality education at scale:
Oto Brasil de Sá Cavalcante
Ari de Sá Cavalcante Neto
Paula Soares de Sá Cavalcante
* Member of Arco’s Audit Committee.
About Arco Platform Limited (Nasdaq: ARCE)
Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience with while enabling schools to thrive.
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of Arco’s Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. Therefore, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented. Arco does not undertake any obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.
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