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Management

Board of Directors

The Board of Directors is a joint autonomous body, composed for up to five members, whose actions are regulated by Internal Regulations, its principal responsibilities being to guide the businesses of the Company, monitor its operation and management, make decisions on strategic questions, provide guidelines to the Executive Board on important matters, deliberate on the distribution of dividends, as well as creating Committees for specific purposes.

Board members carry a mandate of two years, with the possibility of being re-elected at the Annual General Meeting. The Board of Directors holds at least six regular meetings per year and on an extraordinary basis whenever the need arises or when convened by one or more of its members.

Name Election Date End of Term
Marcelo Gasparino da Silva Chairman of the Board 2014 Until ASM 2022

Lawyer graduated from the Federal University of Santa Catarina with Specialization course in Corporate Tax Administration from ESAG (Santa Catarina State University), Executive training in Mergers and Acquisitions at the London Business School and at the CEO FGV (IBE / FGV / IDE). Professor at ENÁ Foundation – School of Government for certification of administrators of state-owned companies and mixed-capital companies.

For the past 10 years, has served as an independent board member in publicly-held companies, with more than 30 terms, with 5 years as Chairman of the Board of Directors. He has been Chairman of the Board of Directors of ETERNIT since 2017, Member of the Board of Directors of VALE since 2020, of CEMIG since 2016 and member of the Fiscal Council of PETROBRAS since 2018. With experience in the sectors of mining and steel, oil & gas, petrochemical, logistics, generation, transmission and distribution of energy, distribution of natural gas, transformation of steel, basic industry, civil construction, roofing for civil construction including photovoltaic generation, storage and basic sanitation acquired skills, abilities and knowledge, skills that allow to contribute in the most diverse subjects and strategies that are dealt with in the boards on which it participates, such as turnaroud, ESG, capital structure, merger & acquisitions, sale of non-core assets, financial restructuring of companies in crisis, including judicial reorganization, executive succession, highly complex legal issues and leadership in coping with global impact crises such as COVID-19. He is a Board Member certified by the Brazilian Institute of Corporate Governance – IBGC since 2010. He started his executive career as Legal and Institutional Director of CELESC (2007-2009); He was Chairman of the Board of Directors of USIMINAS during the height of the 2015-16 economic crisis in the midst of the greatest Brazilian corporate conflict, with its shares reaching R$ 0.85 in January 2016 and exceeding R$ 4.00 in April, after important action by the Council. In April 2017, he was elected President of the Board of Directors of Eternit to lead the Company turn around with the election of a new executive board, but in the same year the Company suffered a major setback in a legal issue that banned the use of Chrysotile Asbestos in Brazil, and which ended up dredging it for a Judicial Reorganization Process in 2018. Leading the board at the complex moment acted for Eternit to search for a new business in the photovoltaic area, being launched the photovoltaic roof tiles Eternit Solar and Tégula Solar, including in its product portfolio with technology and innovation. In 2020, ETER3 was one of the three shares that most valued at B3, and its results, after 5 losses, had the following highlights: a. People-care and maintenance of jobs; B. Net Income of R$ 158.7mm; c. Net revenue with a 40% growth; d. Gross margin of 33%; and e. Net cash of R$ 14.8mm. Eternit will close its judicial reorganization in 2021.

He was member of the boards of directors of Bradespar (2015-16), Battistella (2016-17), Casan (2019), Celesc (2011-14 and 2018-19), Eletrobras (2012-14 and 2016), Eletropaulo (2016- 18), Gasmig (2020-21), Kepler Weber (2017-20) Tecnisa (2012-14) and Usiminas (2012-16).
He was a fiscal advisor to AES TIETÊ (2013-14), BRADESPAR (2014-15) and BRASKEM (2018-19).

Since its launch in 2004, he has been the oldest External Consultant for the Innovare Award, which acknowledges judiciary innovations in the whole country, with projects issued by Lawyers, Judges, Prosecuters and federal workers. He practiced law for 15 years, from 1995 to 2010.

Louise Barsi Board Member 2017 Until ASM 2022

Economist and accountant. She served as Fiscal Council member at Unipar Carbocloro, a chlorine, soda and derivatives company, from April 2016 to October 2017, and also worked as research intern at Elite CCVM, a securities brokerage firm, and as intern at the Brazilian Economists Association. She is currently an investment analyst at Elite CCVM and has been serving on the board of directors of Eternit since December 2017.

Marcelo Munhoz Auricchio Board Member 2011 Until ASM 2022

Brazilian, with a technical degree in entrepreneurship management, resident and domiciled in the City of São Caetano do Sul, State of São Paulo. He has over 35 years of experience in the industrial area. Entrepreneur in automation, partner and Safety /Robotics executive officer at Módena Contric Group (business segment: industrial automation and robotics). Currently, he serves on the Company’s Board of Directors, since 2011.

Olivier Colas Board Member 2018 Until ASM 2022

French and Brazilian national, resident and domiciled in the City of Rio de Janeiro. Received a B.Sc. in Economics from Institut d’Études Politiques de Paris and Board Member certification from the Brazilian Corporate Governance Institute (IBGC)), and completed the Business Leadership Program at University of Pennsylvania – Wharton School and the Making Corporate Boards More Effective program at Harvard Business School Executive Education. He has over 30 years of experience that includes CEO at Coimex Trading and Vice-CEO at Kepler Weber. Previously, he served in executive positions in global markets at Saint-Gobain and Royal Dutch Shell in the United Kingdom, United States of America, France and Brazil. He also was a member of the Board of Directors of Invepar (2019-2020). Currently, he is a founding partner of Funchal Investimentos and a member of the Board of Directors of Eternit since 2018.

Paulo Andrade Board Member 2020 Until ASM 2022

Brazilian, chemical engineer, resident and domiciled in the City of Jundiaí, State of São Paulo, has over 30 years of experience at 12 Brazilian and international companies serving as CEO, COO, Business Unit Director and Executive Manager (Nestlé, Unilever, Parmalat, Cremer, Amanco Mexichem, Avery Dennison, Associated British Foods, Griffith Labs, Atmosfera Grupo Elis, Enova Foods, Rio Branco Alimentos and Polinutri). He has vast experience in public corporations, limited liability companies and subsidiaries of investment and family funds, where he managed the preparation of income statements, balance sheets, cash flows, investment budgets, long-term strategic plans and M&A operations. Currently, he is CEO of Polinutri Nutrição Animal since March 2019 and a member of the Board of Directors of Eternit since 2020.

Board of Auditors

The Company will have a Board of Auditors, which will exercise the responsibilities and powers conferred on it by Law No. 6404/76 and will function on a non-permanent basis, only when installed by the Annual General Meeting, following the request by shareholders representing the quorum required by law, or the regulations issued by the CVM.

The Company’s Board of Auditors, when installed, will consist of at least 3 (three) and a maximum of 5 (five) statutory members and their respective alternates, resident in Brazil, being either shareholders or not. The mandate of the members of the Board of Auditors shall be one year with the possibility of re-election at the Annual General Meeting.

Name Election Date End of Term
João Vicente Silva Machado Statutory member 2021 Until ASM 2022

João Vicente Silva Machado, Brazilian, legal adviser, resident and domiciled in the city of Florianópolis, state of Santa Catarina. He obtained a bachelor’s degree in law from the Vale do Itajaí University (Univali) in December 2006. He has vast experience in the judiciary in Santa Catarina, having worked as legal adviser at the offices of the First Chamber of Public Law from November 2007 to February 2012. From March 2012 to February 2014, he worked as Correctional Adviser at the Internal Affairs Department of the judiciary of Santa Catarina. From March 2014 to October 2015, he was Legal Secretary, head of cabinet of the Appellate Judge of the Third Chamber of Public Law of TJSC. From November 2015 to February 2017 he was Cabinet Officer for the appellate judge of the Third Chamber of Commercial Law of TJSC and, since then, has worked as legal adviser at the office of member of the Fourth Chamber of Public Law of the TJSC. He has completed a specialization program in Contemporary Civil Procedural Law at Unisul and a Corporate Governance program with a certificate issued by FGV Online. He is currently an alternate member of the Audit Board of Tecnisa S.A. None of the companies above belongs to the Eternit Group.

Paulo Henrique Zukanovich Funchal Statutory member 2021 Until ASM 2022

Paulo Henrique Zukanovich Funchal, Brazilian, graduated in naval engineering from Escola Politécnica of the University of São Paulo – USP, in Economics from Faculdade de Economia e Administração of USP and Master of Energy Economics from the Instituto de Eletrotécnica e Energia of USP.

Mr. Funchal served as project finance manager at Banco Itaú, director of business development at Elucid Group, managing director at ARMATEK and Audit Board member at Eternit. He is currently senior partner in the Mergers & Acquisitions practice at Grant Thornton.

Apart from the Company, none of the companies above pertains to the Eternit Group.

Wilfredo João Vicente Gomes Statutory member 2021 Until ASM 2022

Wilfredo João Vicente Gomes, studied management at the Federal University of Santa Catarina, holds a bachelor’s degree in Controllership from FECAM, has completed a specialization program on Corporate Governance and Board Member Training at the Dom Cabral Foundation. Since 2003, he has been CEO of Multicorp Participações, which consists of the companies OneWG Multicomunciação, Multione Fitness and Multilíders. For three years he has been CEO of LIDE SC and Multicompany. He was a director of CELESC and is currently a director of AES Eletropaulo. He is currently a member of the Audit Board of Eternit. Apart from the Company, none of the companies above pertains to the Eternit Group.

Rochana Grossi Freire Alternate 2021 Until ASM 2022
Felipe Camara Ruiz Alternate 2021 Until ASM 2022
Octavio René Lebarbenchon Neto Alternate 2021 Until ASM 2022

Brazilian, business administrator, resident and domiciled in the city of Florianópolis, Santa Catarina. Obtained a degree from the State University of Santa Catarina (UDESC) ESAG in 1985, an MBA in financial management and banking from the Association of Commercial and State Banks (ASBACE) in 1990 and a master’s degree in public and international administration from the National Institute of Public Administration (INAP) in Madrid, Spain, in 1988. Full professor at UDESC ESAG. He was director of the Regional Council of Santa Catarina (CRA) in 1990/1991, director of marketing at Caixa Econômica Federal de Santa Catarina in 2001/2002, director of sales and marketing at Unimed Grande Florianópolis in 2004/2013, chairman of the Association of Marketing and Sales Managers (ADVB) in Santa Catarina in 2014/2015. He has served as chairman and director in several companies, notably the Unike Group and ADM S.A. He is currently an alternate member of the Fiscal Council of Eternit and chairman of ADMSA and Lebarbenchon Capital, sitting member of CAE, member of the statutory audit committee of CELESC and consultant to diverse companies: Orcali, Ypy Sorvetes, Coringa, Alexandre Jackes Group, Eco Postos, Formaco Construtora (executive officer and director). He is also director of the Florianópolis Social Observatory and Advb SC.

Executive Board

The Executive Board is elected by the Board of Directors with a mandate of two years with the possibility of reelection. It is made up of 2 (two) to 4 (four) members, one of whom, the CEO. The executive board is responsible for the carrying out of the decisions of the Board of Directors and for the direct management of the company’s businesses.

Name Election Date End of Term
Luis Augusto Barcelos Barbosa CEO 2017 Until ASM 2022

Brazilian, with undergraduate in Engineering from the Polytechnic School at the University of São Paulo (USP) and an MBA from the Getúlio Vargas Foundation of São Paulo (FGV-SP) and completed non-degree graduate programs at Babson College – Massachusetts and IMD – Lausanne. He began his career in 1984 in the sales, marketing, production and strategic planning areas, leading operations in Brazil and South America at companies such as Rhodia, Alcoa, Sasazaki and Assa Abloy. Over the past ten years, he has served in Managing Director or CEO positions. Today, he is CEO of Eternit.

Rodrigo Angelo Inácio Commercial and Marketing 2017 Until ASM 2022

Brazilian, with a B.Sc. in Mechanical Engineering from the State University of Santa Catarina (UDESC); a B.A. in Marketing from the Higher School of Advertising & Marketing (ESPM); an MBA in Finance and Board Member certification from the Brazilian Corporate Governance Institute (IBGC). With experience in corporate transformation and structuring processes, he has amassed a long career in the construction industry in operations located in Brazil and other countries of South America. He has served over ten years in director positions, including as CEO, in multinational and national corporations, such as Mexichem (Amanco), Sasazaki, Aliax (Nicoll) and Krona, in the operating, sales and marketing areas. He has vast knowledge in all Business Management processes. He currently is Chief Sales & Marketing Officer at Eternit S.A.

Vitor Mallmann Administrative, Financial and Human Resources 2018 Until ASM 2022

Brazilian, with undergraduate and master’s degrees in Chemical Engineering from the Federal University of Rio de Janeiro (UFRJ), a non-degree program in Economic Engineering and Industrial Business Administration from UFRJ, an Executive MBA from the COPPEAD Graduate School of Business at UFRJ and an MBA in Finance from IBMEC, and completed the Board of Directors Program at the Brazilian Corporate Governance Institute (IBGC). He gained solid experience in management from serving as CEO at Quattor and Vice-CEO at UNIPAR and from sitting on the Board of Directors at various companies in the petrochemical industry. Previously he also worked at Petrobras Química – Petroquisa and Grupo Ultra. Today, he is the Financial, Human Resources & Investor Relations Officer of Eternit.

José Ricardo Reichert Industrial Director 2021 Until ASM 2022

He holds a B.Sc. in Mechanical Engineering from Universidade do Vale do Rio dos Sinos and a graduate degree in Organizational Planning & Management from the University of Pernambuco. The executive has solid experience in the construction industry acquired as Chief Industrial Officer of Saint Gobain Group.

Board Committes

The Committees are created with an objetictive to in order to assist the Board of Directors on topics relevant to the development of the Company in order to add value to assist in conducting business. Currently, Eternit has the following committees.

Finance, Audit and Risk Committee

Name Position
Louise Barsi Coordinator
Olivier Colas Board Member

Human Resources Strategic Committee

Name Position
Olivier Colas Coordinator
Paulo Andrade Board Member

Photovoltaic Committee

Name Position
Marcelo Gasparino Coordinator
Oliver Colas Board Member
Louise Barsi Board Member