SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2023
Commission File Number: 001-38714
(Exact name of registrant as specified in its charter)
4th Floor, Harbour Place
103 South Church Street, P.O. Box 10240
Grand Cayman, KY1-1002, Cayman Islands
+55 (11) 3004-9680
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
|Form 20-F||Form 40-F|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
INCORPORATION BY REFERENCE
This report on Form 6-K shall be deemed to be incorporated by reference into the registration statement on Form S-8 (Registration Number: 333-265382) of StoneCo Ltd. and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|By:||/s/ Mateus Scherer Schwening|
|Name:||Mateus Scherer Schwening|
|Title:||Chief Financial Officer and Investor Relations Officer|
Date: October 10, 2023
|99.1||StoneCo Ltd. Press Release dated October 9, 2023|
StoneCo Announces Organizational Changes to Prioritize Client Segments & Software Integration
Georgetown, Grand Cayman, October 09th, 2023 - StoneCo Ltd. (Nasdaq: STNE; B3: STOC31) (“Stone” or the “Company”) today announced that it is reorganizing its management structure to better align the Company around specific go-to-market strategies per client segment and to accelerate the integration of its software and financial solutions.
Financial Services Segment
The Financial Services reporting segment will be led by three leaders who will each be responsible for managing StoneCo’s business for a specific client category. Each will serve on the Company’s Executive Committee, and report directly to the CEO.
|·||Victor Lino will lead the Micro Merchants Business|
|·||Mateus Biselli will lead the Small and Medium Merchant Business|
|·||Sandro Bassili will lead Key Accounts|
Sandro Bassili will also lead the Software business. He will be responsible for managing the Software reporting segment, its go-to-market business and integration initiatives. Mr. Bassili has extensive experience managing people and integration efforts in organizations and will leverage his responsibilities to accelerate the integration of Software within each client segment. Gilsinei Hansen, current COO of Software, will remain in the Company as a senior advisor, involved in the daily operations of the Software business and its integration initiatives.
Corporate and Operations
Some executives who report directly to the CEO and serve on the Company’s Executive Committee will also assume new responsibilities, including:
|·||Fabio Kapitanovas will join StoneCo to lead our People, Shared Services and Operations teams. He is a senior executive with more than 23 years of experience at Kraft Heinz and AB-Inbev in various operating roles. He will focus on facilitating company-wide operational excellence and creating a more coordinated, streamlined and cost-effective approach to operations.|
|·||Lia Matos, beyond her current responsibilities in Strategy, will also take responsibility for Marketing. She will coordinate our marketing strategies, institutional branding and end-to-end client experience more closely.|
|·||João Bernartt, currently responsible for Product across our financial services platform, will also take responsibility for Business Development and Innovation. He will coordinate our growth and development initiatives more closely.|
|·||Marcus Fontoura, Chief Technology Officer, will now report directly to the CEO, emphasizing StoneCo’s dedication to scalability and accelerated product development.|
|·||Carolina da Costa has joined StoneCo to lead our Impact and Sustainability initiatives. She has over 22 years of experience in impact projects across education, healthcare, and asset management. In education, she served as VP of all Undergraduate Programs at Insper and led the Entrepreneurship Center and the implementation of the new Engineering Program at the University. Carolina will leverage her expertise to work alongside our business leaders in initiatives associated with client education as well as fostering economic inclusion within the broader reach of our ecosystem.|
After contributing significantly during his 6-year tenure, Caio Fiuza has left the Company. Caio will leave an undeniable positive mark not only in the company but on the Brazilian fintech sector as a whole. Stone acknowledges his monumental contributions, particularly in areas such as logistics and the creation of Ton, and wishes him every success.
Pedro Zinner, CEO of StoneCo., remarked, “This strategic reorganization is another important step at putting clients at the heart of our business, fostering increased accountability, improved outcomes, and superior value delivery. Now, I believe our organization is better aligned with our strategic focus of enhancing our value proposition through the combination of financial services and software.” Zinner concluded.
The Executive Committee of StoneCo is now comprised of the following members:
|Pedro Zinner||Chief Executive Officer|
|Mateus Scherer||Chief Financial Officer & Investor Relations Officer|
|Lia Matos||Chief Strategy & Marketing Officer|
|João Bernartt||Chief Product & Innovation Officer|
|Diego Salgado||Chief Treasury Officer|
|Fabio Kapitanovas||Chief People & Operating Officer|
|Marcus Fontoura||Chief Technology Officer|
|André Monteiro||Chief Risk Officer|
|Tatiana Malamud||Chief Legal & Compliance Officer|
|Vinicius Carrasco||Chief Economist & Regulatory Affairs Officer|
|Victor Lino||Chief Client Officer of Micro Merchants Business|
|Mateus Biselli||Chief Client Officer of Small and Medium Merchant Business|
|Sandro Bassili||Chief Operating Officer of Software|
|Carolina da Costa||Chief Impact & Sustainability Officer|
StoneCo is a leading provider of financial technology and software solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. These statements identify prospective information and may include words such as “believe,” “may,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “forecast,” “plan,” “predict,” “project,” “potential,” “aspiration,” “objectives,” “should,” “purpose,” “belief,” and similar, or variations of, or the negative of such words and expressions, although not all forward-looking statements contain these identifying words.
Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Stone’s control.
Stone’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: more intense competition than expected, lower addition of new clients, regulatory measures, more investments in our business than expected, and our inability to execute successfully upon our strategic initiatives, among other factors.