The expectation is that until the first days of October, Caixa will finalize the interviews. After that, the chosen ones will still have to have the names approved by the Board of Directors (CA) of the bank.
Russell Reynolds was hired to assist Caixa in the selection process. At the moment, the vacancies are for the vice presidencies of Corporate, Government Funds and Lotteries, Government and Housing. By the end of the year, all 12 Vice-Presidents should be selected through this process.
Since January, the vice presidents of the Caixa Econômica Federal can no longer be appointed by the president of the Republic. The change in the competence to choose the directors of Caixa is the new statute of the bank, approved by its General Assembly, body created with the new document to replace the duties of the Ministry of Finance.
The new statute follows the principles of the Law of State and provides that both the election and dismissal of the vice presidents of the Caixa will be made by the Administrative Council, composed of a quarter of independent members, after a manifestation of the Nominating and Compensation Committee of the bank. Those appointed to these positions should also be approved by the Central Bank and be evaluated by consultants specialized in executive recruitment.
Salary of US$ 250k
According to the process, the total remuneration exceeds US$ 250,000 per year. The annual salary (13 wages) stands at US$ 164,000. In addition, there is a variable annual remuneration (up to six ones) of US$ 72,000 and benefits (holiday bonus, food allowance, housing allowance, Health Care and Supplementary Pensions) of US$ 27,500.
Source: GMB
