Capital Structure

The Company’s stock is listed on the Novo Mercado, the listing segment of the São Paulo Stock Exchange (B3 – Brasil, Bolsa e Balcão) with the highest corporate governance standards, and on the New York Stock Exchange (NYSE) - Level II.

Suzano has 1,324,117,615 common shares (SUZB3), all nominative, book-entry shares without par value. See below the capital structure, on 11/30/2023:

Shareholder Total
Quantity %
Suzano Holding S.A. 367,612,329 27.8%
David Feffer 53,443,973 4.0%
Daniel Feffer 48,077,305 3.6%
Jorge Feffer 47,687,570 3.6%
Ruben Feffer 46,856,788 3.5%
Alden Fundo de Investimento em Ações 26,154,744 2.0%
Related Parties 27,801,895 2.1%
Management 4,303,888 0.3%
Sub-Total 621,938,492 47.0%
Treasury 34,765,600 2.6%
Other Shareholders 667,413,523 50.4%
TOTAL 1,324,117,615 100.0%

Governance Structure

The advances made in our governance structure reflect the evolution of our business and are key for a company such as Suzano, which strives to be a reference in the sector, in society and in the world.

Learn more about our corporate governance structure:

Estrutura de Governança

Below are the profiles of members of the Company Management:

Management

Holds a B.Sc. in Engineering from the Technological Institute of Aeronautics (ITA) and graduate degrees from the Getúlio Vargas Foundation (FGV), IMD and Harvard Business School. Currently he is the Chief Executive Officer of the Company. He began his career at Citibank and later joined the financial holding company of the Klabin-Maepar Group. In 1989, he joined Dixie-Toga, where he became CEO in 1991, participating in the company’s expansion, merger and transfer of control. In May 2005, he joined the Votorantim Group as the CEO of Votorantim Cimentos, where he was responsible for the operations in Brazil and in 14 other countries. He was named by RISI, the world’s leading information provider to the global forest products industry, Latin American CEO of the Year for the pulp and paper industry in 2015, 2016 and 2017.

With a bachelor’s degree and master’s degree in Business Administration from the Getúlio Vargas Foundation (FGV), he served as an executive officer at Fibria Celulose S.A. from 2011 to January 2019, responsible for managing the forestry area. In 2016, in addition to managing the forestry area, he also became responsible for the industrial and engineering operations at Fibria. Previously, he also served, from 2005 to 2011, as forestry general manager and forestry logistics manager at Votorantim Celulose e Papel S.A. (as Fibria was formerly known) and, from 2000 to 2005, as logistics manager at Companhia de Bebidas das Américas – Ambev (a public corporation merged by Ambev S.A. in 2014 that is engaged in producing and marketing beverages).

Holds a B.Sc. in Electrical Engineering from the Federal University of Minas Gerais (UFMG) and MBA from IBMEC São Paulo (today Insper). He joined Suzano in 2003 as Executive Manager of the Pulp Business Unit, and in 2008 moved to paper commercial operations as Executive Officer of the Paper Business Unit. In 2014, he also became Executive Officer of the Pulp Business Unit. In 2017, with the company’s organizational restructuring, he became Pulp Executive Officer, with responsibility for both the industrial and commercial operations of the Business Unit. He began his career at General Electric of Brazil as General Sales Manager for Latin America in the Industrial Systems Division.

Christian Orglmeister holds an engineering degree from FEI, a graduate degree from Fundação Getúlio Vargas and an Executive MBA from TRIUM (LSE, HEC and NYU). He began his career at Armazéns Gerais Columbia, after which we worked at the international consulting firm Arthur D. Little. Between 2000 and 2002, he worked at the logistics startup Intecom of Grupo Martins, after which he worked at A.T. Kearney for four years in the operations area. In 2006, he joined The Boston Consulting Group, where he led the People, Organization and Governance [A1] practice and the Family Business practice in South America. In 2015, he became Managing Director of the BCG offices in Brazil. During his 20 years as consultant, Christian assisted some of the leading Brazilian and international business groups on strategy, governance, people and digital transformation. Since 2016, he has been an independent member of the People Committee of the Board of Suzano. He is currently Executive Strategy, People, Communication, IT and Digital Officer of the Company.

He is chief technology & innovation officer at Suzano, responsible for the corporate leadership of the company’s technological innovation process. He holds a B.Sc. in Agronomy and a master’s degree in Plant Genetic Enhancement from the Higher School of Agriculture of the Federal University of Lavras (ESAL/UFLA), and has 31 years of experience in the forestry industry. Currently he is responsible for technological developments in the areas of Genetic Enhancement, Biotechnology, Forest Management, Pulp Processes and Products, Paper and Biorefinery/Biomaterials. He has completed non-degree programs in Forest Management (UFLA), Business Management (Dom Cabral Foundation), Product Development (University of Cambridge - UK), Driving Strategic Innovation (IMD – Switzerland) and Global Executive Academy (MIT – USA).

Leonardo Barretto de Araujo Grimaldi holds a degree in Business Administration from Fundação Getúlio Vargas and has taken specialization courses at Wharton (USA) and Singularity University (USA). He currently serves as the Executive Officer of Commercial Pulp and Logistics of the Company. Mr. Leonardo Grimaldi also holds the following positions in other companies: (i) member of the board of directors of Ibema S.A.; (ii) member of the board of directors of Suzano Pulp Paper America; (iii) member of the board of directors of Fibria Overseas Finance; (iv) member of the board of directors of Suzano Shanghai Ltd.; (v) member of the board of directors of Fibria Celulose USA Inc.; (vi) member of the board of directors of Suzano Shanghai Material Technology Development; and (vii) member of the board of directors of Suzano Pulp Paper Europe. His main professional experiences in the last five years also include acting as Executive Officer of People and Management, and Health and Safety at the Company, and, previously, as Executive Director of the Paper and Packaging Unit.

Marcelo Bacci is the chief financial and investor relations officer of Suzano, leading the following areas: Treasury, M&A, Credit, Insurance, Investor Relations, Controllership, Shared Services Center, Tax, Financial Planning, Risk Management and Compliance. He also is a board member at Veracel Celulose and an independent board member at BRF SA. He began his career at Unibanco, in 1991, and later served as executive officer at Promon, as vice-chief financial officer at Louis Dreyfus Commodities and as vice-chief executive officer at Suzano Holding. He also serves as chairman of the board of Ibema Papelcartão. He holds a B.A. in Public Administration from the Getúlio Vargas Foundation of São Paulo (FGVSP) and an MBA from Stanford University in California, and completed a non-degree program in Finance and Capital Markets at IBMEC São Paulo (today Insper).

Non-Statutory Executive Management

Caroline Carpenedo has been Executive Officer – People and Management, SSQVF, and Communication and Brand at Suzano since April 2023. Caroline has around 20 years of professional experience in the field of Human Capital, having led all HR processes in different countries and regions. Before joining Suzano, she was Global Director of People and Social Responsibility at Gerdau. She has served on the board of directors of the Mines and Metal Museum, as well as member of the People Committee at IBGC, vice president of the Open Committee People for Management and vice president of the Strategic HR Committee at Amcham. Since 2022, she has been a member of the People Committee at Ibema. Caroline has a PhD in strategic design from Unisinos and an international executive MBA from FIA. She holds a master’s degree in administration from PUC-MG and FDC and a bachelor’s degree in psychology from PUC/RS. She has also completed several advanced education programs at universities such as Stanford, Harvard and Insead.

Fabio Oliveira holds a B.Sc. in Electrical Engineering from the Universidade Federal de Itajuba, a MBA from the Virginia Commonwealth University and has concluded the Advanced Management Program from the MIT Sloan School. Mr. Oliveira has started his career with Suzano in 2007, as an Executive Manager within the Paper Business Unit, where he also worked as the Director for Suzano’s Paper Merchant business in Brazil and Argentina. In 2013, Mr. Oliveira was named Global Logistics Director, responsible for Suzano’s inbound and outbound logistics operations. In 2017, Mr. Oliveira has relocated to Europe and occupied the position of Pulp Commercial & Operations Director for the Americas and EMEA. Before Suzano, Mr. Oliveira has worked for ABB and DuPont, in Brazil and in the USA.

Luís Bueno is Suzano’s Consumer Goods and Corporate Affairs Executive Officer, in charge of P&L for the Business Unit, including the Industrial, Supply Chain, Marketing, Pricing, Sales and Strategy areas. He built his career in the field of Strategy Consulting (Bain & Company), providing consulting services to clients in the Financial Services and Consumer Goods sectors in a number of countries in the Americas, and then as Business Directors in Consumer Goods and Retail companies in Brazil (Natura, Hering and Vigor). Luís holds a B.Sc. in Mechanical Engineering from the Federal University of Minas Gerais (UFMG) and an MBA from Harvard Business School (USA) and completed a non-degree program in Leadership from Insead (France and Singapore).

Pablo F. G. Machado holds an undergraduate degree in Law from the University of São Paulo (USP), a post-graduate degree in Contracts, Commercial Law and Negotiation from Pontifical Catholic University of São Paulo (PUC-SP) and a Master of Laws (LL.M degree) in International Commercial Law from the University of California, Martin Luther King School of Law. Currently, Pablo is the Executive Officer of Suzano, responsible for China Business and he is based in the Company`s Shanghai office. Prior to that, Pablo served as the Company`s executive officer in charge of Legal and Corporate Relations. He launched his career at a law firm and then joined the Louis Dreyfus group, where he served in various executive positions in Brazil and abroad, his last in the group as Executive Vice-President for Latin America. Pablo joined Suzano in 2015.

Board of Directors

Holds a B.A. in Business Administration in Brazil and completed non-degree programs at Harvard Business School, Columbia University, IMD (Switzerland), The Aspen Institute, Singularity University and Stanford University. At the companies in Suzano’s economic group, he has held and/or holds the following offices: (i) since 2003, as chairman of the board and coordinator of the Management & Financial Committee; since 2006, as coordinator of the Sustainability & Strategy Committee, and also as a member of the Strategy & Innovation Committee and of the People Committee; (ii) since 2003, as the chief executive officer of Suzano Holding S.A., a publicly traded company whose core business is holding interests in other companies; (iii) since 2001, as a board member and the chief executive officer of Polpar S.A., a publicly traded company whose core business is holding interests in other companies; (iv) since 2004, as the chief executive officer of IPLF Holding S.A., a closely held company whose core business is holding interests in other companies; (v) from 2001 to 2015, as vice-chief executive officer and, since April 2015, as chief executive officer of Premesa S.A., a subsidiary of Suzano Holding S.A. whose core business is developing real estate projects. He also is a member of various social and cultural institutions, which include the following capacities: chairman of the board of the ALEF-Peretz School; member of the Deliberative Board of Associação Beneficiente Israelita Brasileira Hospital Albert Einstein; vice-chairman of the board and chairman of the Superior Council of the Ecofuturo Institute – Future for Sustainable Development. Member since June/01.

He earned a Law degree from Mackenzie University and completed non-degree programs at the Getúlio Vargas Foundation, Harvard University and the Massachusetts Institute of Technology (MIT) in the United States, IMD in Switzerland and London Business School in England. He currently serves as (i) chairman of the board of ICC Brazil; (ii) vice-chairman of the board and member of the Suzano’s Sustainability & Strategy Committee; (iii) vice-chairman of the Board of Curators and of the Arymax Foundation, whose core activity is defending social rights; (iv) chairman of the board and vice-chairman of the Superior Council of the Ecofuturo Institute – Future for Sustainable Development, whose core activity is defending social rights; (v) chairman of the board of Brazil's Forestry Industry Association (Ibá); (vi) member of the board of the Industrial Development Studies Institute (IEDI); (vii) founding member of the board of Compromisso Todos Pela Educação (All for Education Commitment); (viii) member of the board of the São Paulo State Industry Federation (FIESP); (ix) member of the board of the Competitive Brazil Movement (MBC); and (x) executive member of the board of ICC Global; president of the Intelligent Tech & Trade Initiative (ITTI). Member since June/01.

Holds a B.Sc. in Mechanical Engineering from the University of São Paulo (USP) and a graduate degree in Finance from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and pursued a doctoral degree in Economics from the University of Campinas (Unicamp). Currently he holds the following offices: (i) since 2008, as a member of the Board of Directors and of the Sustainability and Strategy Committee of the Company; (ii) since 1998, as vice-chairman of the board of WEG S/A, a publicly traded company that manufactures, produces and markets industrial systems, machinery and equipment; (iii) since 2004, as vice-chairman of the board of Iochpe-Maxion S.A., a publicly traded company that manufactures and distributes engines, agriculture machinery and equipment and components for the steel, rail and automotive industries; (iv) since 2002, as a board member of Ultrapar Participações S.A., a publicly traded company that invests capital in the retail, industrial, agricultural and services sectors; and (v) as a board member of Itaú-Unibanco from 2012 to 2017. From 1972 to 1990, he worked at the Brazilian Development Bank (BNDES), where he was a director from 1987 to 1990. From 1990 to 1994, he was general corporate officer of the Iochpe-Maxion Holding Indústria Group, and from 1995 and 2008, he was CEO of Perdigão S.A. From 2007 to April 2013, he was chairman of the board of BRF - Brasil Foods, a publicly traded company that produces, markets and commercially explores food products in general. Member since April/08.

Ms. Pessoa is currently a partner, investor and Board Chair of Kunumi AI, a leading artificial intelligence start-up in Brazil. She has been an independent board member and member of the audit committee of News Corporation, NY, since 2013; an Independent board member and member of the Investment and CSR committee of Vinci Group, Paris, since 2015; an independent member of the board and member of the audit committee, the conduct and financial crime committee, and of the innovation committee of Credit Suisse AG, Zurich, since 2018. She is also a board member of the board representing IFC at Aegea Saneamento, Säo Paulo, since 2018. She is a member of Stanford University, California, Global Advisory Council since 2018. She is a member of the Consulting Board of The Nature Conservancy Brazil since 2014, a member of the Audit committee for Fundação Roberto Marinho since 2007, a member of consulting board for Casa FIRJAN since 2018. Ms Pessoa was CFO of the Rio 2016 Olympic and Paralympic Games from 2015 to 2017. Ana Paula served as Founder and Managing Director of Brunswick São Paulo from 2012 to 2015. Ms Pessoa, founded and was Chair of Neemu Internet, which was sold in 2015 to Linx SA.. Ana Paula was CFO of infoglobo Comunicações from 2001-2011, and before that held several executive positions in the Globo Organizations since 1993. Ana Paula worked for the World Bank in DC and The United Nations Devenlopment Programme in New York and Benin, West Africa. Ana Paula has a BA in Economics and International Relations with Honors from Stanford University, and A Mami in Development Economics also from Stanford University. Member since April/19.

Ms. Moll has a degree in Hotel Management, an Executive MBA from Fundação Dom Cabral an executive course from Harvard University, Insper and Insead. She currently serves as member of the board of directors of the Company. Ms. Moll also holds the following positions in other companies: (i) member of the board of directors of MDS; (ii) member of the ESG and People Committee of Bionexo, and (iii) member of the Board of the ELF (Group of Empowerment and Female Leadership of the Israeli Federation of the State of São Paulo (Federação Israelita do Estado de São Paulo – FISESP). Gabriela started her career at GI - Grupo de Incentivo and in 2010 founded AG Sport, a consultancy specializing in the idealization and organization of large events, in which she was responsible for the development of the company’s commercial and strategy area. In 2015, she joined Dotz, working on the business development fronts and implementing a new 100% digital self-service model to open up the small business market. At Suzano S.A., as of 2017, she led the communication of products and the digital transformation of the Paper and Packaging Unit. Also at Suzano, after its merger with Fibria, she worked in the integration cell responsible for monitoring the synergies arising from the merger. Member since April/22.

Holds a B.Sc. in Agricultural Engineering from Luiz de Queiróz Agriculture School of the University of São Paulo (ESALQ/USP) and completed a non-degree program in Executive Management and Global Strategy Leadership at the Wharton School, University of Pennsylvania. She began her career at DuPont Brasil, in 1981, in the agricultural division, where she held leadership positions in the areas of Regulatory Affairs, Government Relations and Research & Development. In 1996, she transferred to Wilmington, DE, USA, where she held various positions in the areas of Development and Marketing. In 2008, she was promoted to Business Director of DuPont Canada, and was relocated to Mississauga, ON, Canada. From September 2014 to September 2015, she served as global Director of Strategic Planning of the DuPont Crop Protection Division. In October 2015, she returned to Brazil to serve as CEO of DuPont Brazil and Vice-President for Latin America of the Crop Protection Division of DuPont Brazil and Latin America. With the merger of Dow and DuPont in September 2017, she was named Global Chief Strategy and Business Development Officer of Corteva Agrisciences, the Agricultural Division of DowDuPont, in Indianapolis, Indiana. For years, she has served on the Board of Directors of the American Chamber of Commerce (AmCham), of the Brazilian Chemical Manufacturers’ Association (Abiquim), of the Agribusiness Council of the São Paulo State Industry Federation (FIESP) and of the Board of Directors of the Canadian Association of Crop Protection (CropLife Canada). Currently she is a member of the Board of Directors of The International Center in Indianapolis, Indiana and of the Inter-American Dialogue, in Washington, D.C. Member since July/16.

Graduated in Law at PUC / Curitiba, with specialization in Foreign Trade (FAE / CDE Curitiba) and Law in International Trade (IBEJ Curitiba), he has an MBA in Corporate Law and Finance (FGV / RJ) and a master's degree in Business Management and Economics ( University of Brasilia). From 11/2018 to 05/2021 he was President of Cielo SA. Joined Banco do Brasil in 1981 becoming Vice President of Wholesale, International Business and Private Banking and Capital Markets (BB BI) from 2011 to 2014 and serving as President of 05/2016 to 10/2018. He was Executive Secretary at the Ministry of Finance from 02/2014 to 02/2015 and also worked at Companhia Siderúrgica Nacional as Executive Corporate Director. In the last 5 years, he served, for a certain period, on the Board of Directors of the following companies: Banco do Brasil S.A .; Brasilprev; Elo Participações S.A .; Banco Votorantim; CBSS Visavale (Alelo); Vale; Brasilcap Capitalização and Banco Votorantim; he was also a member of the Advisory Board of Febraban - Brazilian Federation of Banks. Member since May/20.

Mr. Kakinoff holds a graduate degree in Business Administration from Mackenzie University. He currently serves as member of the board of directors of the Company. Mr. Kakinoff also hold the following positions in other companies: (i) member of the board of directors of Porto Seguro S.A.; (ii) member of the board of directors of Grupo Vamos S.A; (iii) member of the board of directors of Tembici S.A; (iv) chief executive officer of GOL Linhas Aéreas since 2012. Mr. Kakinoff began his career as an intern at Volkswagen do Brasil, at the age of seventeen. In the nineteen years in which he worked for the group, he held the positions of Officer of Sales & Marketing, Executive Officer of the Group for South America at the head office (Germany) and, in 2009, he was appointed president of Audi in Brazil, remaining until June, 2012. He was independent member of the board of directors of GOL Linhas Aéreas for two years. Member since April/22.

Rodrigo Calvo Galindo has been the Chief Executive Officer of COGNA EDUCAÇÃO S.A. since 01.01.2011. He has been managing educational institutions for over 28 years. He was CEO of Kroton Educacional, Director of Operations and Director of College Education at Kroton Educacional, CEO of Grupo Educacional IUNI, Administrative Dean of the University of Cuiabá and responsible for the management, accreditation and implementation of college education institutions in Bahia, Mato Grosso , Amapá, Acre and Rondônia. Rodrigo Calvo Galindo is currently a member of the Board of Directors of Cogna, Burger King Brasil, Clínica SIM and Endeavor and was a member of the Board of Directors of Arezzo. Member since May/20.

Fiscal Council

Holds a B.S. in Accounting and a B.A. in Business Administration from University Cândido Mendes in Rio de Janeiro. Highlights of his professional experience follow: Aracruz Celulose S.A. - Accounting and Internal Audit Manager and Controller (1974 - 1996); CSN-Cia. Siderúrgica Nacional - Controller and IT Director (1996 - 2003); Embratel S.A. - Controller and Executive Officer - Corporate Governance (2003 - 2008); Icatu Seguros S.A. - Executive Officer - Customer Service (2008 - 2011). He currently serves on the Audit Board of Suzano S.A. and Cadam S.A. and on the Audit Committee of Banrisul. He is an alternate member of the Audit Boards of the following publicly-held companies: AES Tietê Energia, Tupy, Ouro Fino Saúde Animal Participações and Padtec Holding. He has served on the Audit Boards of the following publicly-held companies: Vale, Net Serviços de Comunicação, JBS, Ideiasnet and CCR, and the following closely-held corporations: Ferrovia Centro Atlântica, Itá Energética and Officer Distribuidora Prod. Tecnologia. He was a member of the Audit Board of the private pension entities of certain companies at which he worked. He is also member of the Executive Committee of Canal My News. Since 2012, he has been a consultant in the fields of Corporate Governance, Controllership and Processes and Accounting/Financial Systems.

Holds a degree in law from the Law School of the University of São Paulo (USP). Since April 1991, he has been a member of the Audit Board of the Company. He is a partner of the law firm Paes e Colauto – Sociedade de Advogados, where he provides legal advice and tax and corporate consulting. He currently serves on the Audit Boards of SIMPAR S.A., a publicly-held company that provides logistics services, Cyrela Brazil Realty S.A. Empreendimentos e Participações, a publicly-held company engaged in real estate development, as well as real estate purchase, sale and rentals, and JSL S/A, publicly-held company that provides logistics services.

Holds a degree in Law from the Law School of São Bernardo do Campo. He is a sitting member of the Audit Board of the Company and also the following companies: (i) Banco Alfa de Investimento S.A., a financial institution, (ii) Alfa Holdings S.A., a publicly-held company engaged primarily in holding interest in other companies of the Alfa group, and Tegma Gestão Logística S/A., a company engaged primarily in the provision of logistics services. From 1999 to 2010, he was a member of the Audit Boards of Financeira Alfa S.A. – Crédito, Financiamento e Investimento, a publicly-held financial company, and Consórcio Alfa de Administração S.A., a publicly-held company engaged primarily in holding interest in other companies of the Alfa group. Since June 2009, he has been a partner of Barletta, Schubert e Luiz Sociedade de Advogados, a law firm specializing in Private Law, with a focus on Corporate Law. From 1961 to 2008, he was an intern, employee and later a partner of the law firm Augusto Lima S/C.

He has been serving on the Audit Board of Tupy S.A. since 2017;. Previously, he served on the Audit Boards of the following companies: 2018/2019 - Brasiliana Participações S. A.; 2015/2017 – Eletropaulo Metropolitana Eletricidade de São Paulo S. A.; 2008/2015 – AES Tietê S.A.; 2012/2014 – AES Elpa S. A.; 2010/2011 – Eletropaulo Comunicações Ltda.; 2010/2011 – AES Communications Rio de Janeiro S.A.; 2003/2006 – Centrais Elétricas Brasileiras S. A. – ELETROBRÁS; 1993/1994 – Companhia Vale do Rio Doce. In 2015, he also served on the Advisory Council of the Social Assistance and Security Foundation of the BNDES.

Holds a degree in Law from the Law School of São Bernardo do Campo. Since June 2009, he has been a partner of Barletta e Schubert Sociedade de Advogados, a law firm specializing in Private Law, with a focus on Corporate Law. From 1972 to March 2009, he was an intern and later a partner of the law firm Augusto Lima S/C. The law firms Barletta e Schubert Sociedade de Advogados and Augusto Lima S/C are not a part of any business group.

Holds a degree in law from the Law School of the University of São Paulo (USP). Currently he is an alternate member on the Company’s Audit Board, and since 1988 he is a founding partner of Pacaembu Serviços e Participações Ltda., a company that provides paralegal services and administrative support. From 1995 to 2002, he served on the Audit Board of Barclay’s Bank, a financial institution; from 1989 to 1998, he was an officer at Vocal Com. Veículos Ltda., a dealership of Volvo vehicles; and from 1986 to 1998, he was executive officer of SPP Nemo S.A. Coml. Exportadora, a company in the business group of the Company at the time whose core business was the distribution of paper in Brazil and abroad.

Statutory Audit Committee

Ms. Pessoa is currently a partner, investor and Board Chair of Kunumi AI, a leading artificial intelligence start-up in Brazil. She has been an independent board member and member of the audit committee of News Corporation, NY, since 2013; an Independent board member and member of the Investment and CSR committee of Vinci Group, Paris, since 2015; an independent member of the board and member of the audit committee, the conduct and financial crime committee, and of the innovation committee of Credit Suisse AG, Zurich, since 2018. She is also a board member of the board representing IFC at Aegea Saneamento, Säo Paulo, since 2018. She is a member of Stanford University, California, Global Advisory Council since 2018. She is a member of the Consulting Board of The Nature Conservancy Brazil since 2014, a member of the Audit committee for Fundação Roberto Marinho since 2007, a member of consulting board for Casa FIRJAN since 2018. Ms Pessoa was CFO of the Rio 2016 Olympic and Paralympic Games from 2015 to 2017. Ana Paula served as Founder and Managing Director of Brunswick São Paulo from 2012 to 2015. Ms Pessoa, founded and was Chair of Neemu Internet, which was sold in 2015 to Linx SA.. Ana Paula was CFO of infoglobo Comunicações from 2001-2011, and before that held several executive positions in the Globo Organizations since 1993. Ana Paula worked for the World Bank in DC and The United Nations Devenlopment Programme in New York and Benin, West Africa. Ana Paula has a BA in Economics and International Relations with Honors from Stanford University, and A Mami in Development Economics also from Stanford University.

Holds a B.A. in Business Administration and a B.A. in Public Administration from the Federal University of Rio Grande do Sul (UFRGS) and a graduate degree in Capital Markets from the Getúlio Vargas Foundation (FGV). Currently, he is (a) member of the Audit Committee of the Company and of the following companies; (b) member of the Audit Committee of the Algar Group, a Brazilian holding company whose core business is information technology and telecommunications, agribusiness, construction, services and tourism; (c) coordinator of the Audit Committee of the Cornélio Brennand Group, which is engaged primarily in the real estate development, energy, glass and cement industries; (d) member of the Audit Committee of Grupo Solar, a manufacturer of the Coca-Cola System in Brazil; (e) member of the board of the American Chamber of Commerce (AmCham) of Rio Grande do Sul; of the Association of Marketing and Sales Executives of Brazil (ADVB), and of Agenda 2020; (e) chairman of the Deliberative Board of Grêmio FBPA; (f) member of the Advisory Board of Lojas Lebes; (g) member of the Audit Committee of Moinho Paulista S.A.; (h) member of the Board of Directors and of the Audit Committee of Copel - Cia Paranaense de Energia, a public corporation in Brasil and the USA that operates in the energy industry in Paraná and other states of Brazil. Previously, he was (a) lead partner of PricewaterhouseCoopers (PwC) from 2002 to 2015, one of the world's largest professional services firm, providing audit, consulting and other services to all types of companies. (b) chairman of the Audit Committee for five years and vice-president from 2013 to 2014 of the Brazilian Corporate Governance Institute (IBGC), a non-profit organization that works to promote best corporate governance practices; (c) member of the Board of Directors for six years and director for two years of the Young Presidents Organization (YPO/WPO), a global network of executive officers; (d) the first independent board member of Calçados Azaleia, a Brazilian footwear company; (e) for 15 years a member of the Administrative Board of Santa Casa de Misericórdia de Porto Alegre, a group of seven hospitals of various specialties located in Porto Alegre, Rio Grande do Sul; (f) member of the Audit Committee of BB Seguridade, a Brazilian insurer of Banco do Brasil engaged in insurance products, private pension plans, capitalization and brokerage services; (g) board member of Valmont, a company operating in the agribusiness sector; (h) chairman of the board of Porto Alegre Health Care, a non-profit group composed of public and private players focused on promoting the city of Porto Alegre and medical tourism.

Mr. Lyrio currently serves as a member of our audit committee. He has served as the chairman of the board of directors of Braskem S.A since April 2018, and is a founding partner of Prêncipio Asesororia Empresarial. Mr. Lyrio was a partner and co-founder of Signatura Lazard and Managing Director (MD) for Lazard in Brazil from 2004 to 2016, during which he worked as an advisor to large Brazilian and foreign business groups in connection with their local and international investments. Prior to Lazard, he worked from 1990 to 2004 at ING Bank and ING Barings in several areas of the institution, including as President for ING Brazil from 2001 through 2004. Mr. Lyrio holds a degree in economic sciences from the Pontifical Catholic University - PUC of Rio de Janeiro.

Graduated in Law at PUC / Curitiba, with specialization in Foreign Trade (FAE / CDE Curitiba) and Law in International Trade (IBEJ Curitiba), he has an MBA in Corporate Law and Finance (FGV / RJ) and a master's degree in Business Management and Economics ( University of Brasilia). From 11/2018 to 05/2021 he was President of Cielo SA. Joined Banco do Brasil in 1981 becoming Vice President of Wholesale, International Business and Private Banking and Capital Markets (BB BI) from 2011 to 2014 and serving as President of 05/2016 to 10/2018. He was Executive Secretary at the Ministry of Finance from 02/2014 to 02/2015 and also worked at Companhia Siderúrgica Nacional as Executive Corporate Director. In the last 5 years, he served, for a certain period, on the Board of Directors of the following companies: Banco do Brasil S.A .; Brasilprev; Elo Participações S.A .; Banco Votorantim; CBSS Visavale (Alelo); Vale; Brasilcap Capitalização and Banco Votorantim; he was also a member of the Advisory Board of Febraban - Brazilian Federation of Banks.

Strategy and Innovation Committee - Non-Statutory

Holds a B.Sc. in Mechanical Engineering from the University of São Paulo (USP) and a graduate degree in Finance from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and pursued a doctoral degree in Economics from the University of Campinas (Unicamp). Currently he holds the following offices: (i) since 2008, as a member of the Board of Directors and of the Sustainability and Strategy Committee of the Company; (ii) since 1998, as vice-chairman of the board of WEG S/A, a publicly traded company that manufactures, produces and markets industrial systems, machinery and equipment; (iii) since 2004, as vice-chairman of the board of Iochpe-Maxion S.A., a publicly traded company that manufactures and distributes engines, agriculture machinery and equipment and components for the steel, rail and automotive industries; (iv) since 2002, as a board member of Ultrapar Participações S.A., a publicly traded company that invests capital in the retail, industrial, agricultural and services sectors; and (v) as a board member of Itaú-Unibanco from 2012 to 2017. From 1972 to 1990, he worked at the Brazilian Development Bank (BNDES), where he was a director from 1987 to 1990. From 1990 to 1994, he was general corporate officer of the Iochpe-Maxion Holding Indústria Group, and from 1995 and 2008, he was CEO of Perdigão S.A. From 2007 to April 2013, he was chairman of the board of BRF - Brasil Foods, a publicly traded company that produces, markets and commercially explores food products in general.

Holds a B.Sc. in Mechanical Engineering from the University of São Paulo (USP) and a graduate degree in Finance from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and pursued a doctoral degree in Economics from the University of Campinas (Unicamp). Currently he holds the following offices: (i) since 2008, as a member of the Board of Directors and of the Sustainability and Strategy Committee of the Company; (ii) since 1998, as vice-chairman of the board of WEG S/A, a publicly traded company that manufactures, produces and markets industrial systems, machinery and equipment; (iii) since 2004, as vice-chairman of the board of Iochpe-Maxion S.A., a publicly traded company that manufactures and distributes engines, agriculture machinery and equipment and components for the steel, rail and automotive industries; (iv) since 2002, as a board member of Ultrapar Participações S.A., a publicly traded company that invests capital in the retail, industrial, agricultural and services sectors; and (v) as a board member of Itaú-Unibanco from 2012 to 2017. From 1972 to 1990, he worked at the Brazilian Development Bank (BNDES), where he was a director from 1987 to 1990. From 1990 to 1994, he was general corporate officer of the Iochpe-Maxion Holding Indústria Group, and from 1995 and 2008, he was CEO of Perdigão S.A. From 2007 to April 2013, he was chairman of the board of BRF - Brasil Foods, a publicly traded company that produces, markets and commercially explores food products in general.

Marcelo Castelli is the Global CEO of Votorantim Cimentos, Brazil's leading construction material, mining and solutions company and the world's sixth largest company in the industry. Castelli leads a team of more than 11,000 people and operations in 11 countries: Brazil, Uruguay, Argentina, Bolivia, United States, Canada, Spain, Morocco, Tunisia, Turkey and Luxembourg.

Castelli consolidated his long career as executive in the pulp & paper industry, where he has held leadership positions in production, projects and business areas in major companies in the sector.

He holds a B.Sc. in Mechanical Engineering and an MBA in Business Administration and has also completed continuing education programs in international executive schools.

He holds a B.Sc. in Mechanical and Production Engineering from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and an MBA in Finance from IBMEC São Paulo (today Insper) and completed the Advanced management Program (AMP 192) at Harvard Business School. Rodrigo began his career at IBM, in 1993, as an intern on the corporate finance team, where he served in various roles in different countries. In 2006, he became chief financial officer for Brazil, in 2009, chief financial officer for Latam, in 2010, vice-president of the Services division and, in 2012, CEO of IBM Brazil. During 2015, he gained experience outside of IBM as the chief executive officer of TOTVS, a Brazilian software company. From 2016 to 2017, he served as CEO of IBM Latin America, and then moved to the United States to head up the Corporate Services division in IBM NY. More recently, he served as General Manager of all global and integrated accounts at IBM (key clients). He has vast international experience that not only includes Latin America, but also Asia. He is a board member at Suzano S.A., where he also serves as coordinator of the Innovation & Strategy Committee. He is a member of the Advisory Board of the Don Cabral Foundation. He is president of the Brazilian Financial Executive Institute and a member of the American Chamber of Commerce.

Ms. Moll has a degree in Hotel Management, an Executive MBA from Fundação Dom Cabral an executive course from Harvard University, Insper and Insead. She currently serves as member of the board of directors of the Company. Mr. Moll also holds the following positions in other companies: (i) member of the board of directors of MDS; (ii) member of the ESG and People Committee of Bionexo, and (iii) member of the Board of the ELF (Group of Empowerment and Female Leadership of the Israeli Federation of the State of São Paulo (Federação Israelita do Estado de São Paulo – FISESP). Gabriela started her career at GI - Grupo de Incentivo and in 2010 founded AG Sport, a consultancy specializing in the idealization and organization of large events, in which she was responsible for the development of the company’s commercial and strategy area. In 2015, she joined Dotz, working on the business development fronts and implementing a new 100% digital self-service model to open up the small business market. At Suzano S.A., as of 2017, she led the communication of products and the digital transformation of the Paper and Packaging Unit. Also at Suzano, after its merger with Fibria, she worked in the integration cell responsible for monitoring the synergies arising from the merger.

Mr. Lyrio currently serves as a member of our audit committee. He has served as the chairman of the board of directors of Braskem S.A since April 2018, and is a founding partner of Prêncipio Asesororia Empresarial. Mr. Lyrio was a partner and co-founder of Signatura Lazard and Managing Director (MD) for Lazard in Brazil from 2004 to 2016, during which he worked as an advisor to large Brazilian and foreign business groups in connection with their local and international investments. Prior to Lazard, he worked from 1990 to 2004 at ING Bank and ING Barings in several areas of the institution, including as President for ING Brazil from 2001 through 2004. Mr. Lyrio holds a degree in economic sciences from the Pontifical Catholic University - PUC of Rio de Janeiro.

Mr. Kakinoff holds a graduate degree in Business Administration from Mackenzie University. He currently serves as member of the board of directors of the Company. Mr. Kakinoff also hold the following positions in other companies: (i) member of the board of directors of Porto Seguro S.A.; (ii) member of the board of directors of Grupo Vamos S.A; (iii) member of the board of directors of Tembici S.A; (iv) chief executive officer of GOL Linhas Aéreas since 2012. Mr. Kakinoff began his career as an intern at Volkswagen do Brasil, at the age of seventeen. In the nineteen years in which he worked for the group, he held the positions of Officer of Sales & Marketing, Executive Officer of the Group for South America at the head office (Germany) and, in 2009, he was appointed president of Audi in Brazil, remaining until June, 2012. He was independent member of the board of directors of GOL Linhas Aéreas for two years.

Sustainability Committee - Non-Statutory

Holds a B.Sc. in Agricultural Engineering from Luiz de Queiróz Agriculture School of the University of São Paulo (ESALQ/USP) and completed a non-degree program in Executive Management and Global Strategy Leadership at the Wharton School, University of Pennsylvania. She began her career at DuPont Brasil, in 1981, in the agricultural division, where she held leadership positions in the areas of Regulatory Affairs, Government Relations and Research & Development. In 1996, she transferred to Wilmington, DE, USA, where she held various positions in the areas of Development and Marketing. In 2008, she was promoted to Business Director of DuPont Canada, and was relocated to Mississauga, ON, Canada. From September 2014 to September 2015, she served as global Director of Strategic Planning of the DuPont Crop Protection Division. In October 2015, she returned to Brazil to serve as CEO of DuPont Brazil and Vice-President for Latin America of the Crop Protection Division of DuPont Brazil and Latin America. With the merger of Dow and DuPont in September 2017, she was named Global Chief Strategy and Business Development Officer of Corteva Agrisciences, the Agricultural Division of DowDuPont, in Indianapolis, Indiana. For years, she has served on the Board of Directors of the American Chamber of Commerce (AmCham), of the Brazilian Chemical Manufacturers’ Association (Abiquim), of the Agribusiness Council of the São Paulo State Industry Federation (FIESP) and of the Board of Directors of the Canadian Association of Crop Protection (CropLife Canada). Currently she is a member of the Board of Directors of The International Center in Indianapolis, Indiana and of the Inter-American Dialogue, in Washington, D.C.

Clarissa is a founding partner of Catavento, a strategy and sustainability consulting firm, and president of IBP - Brazilian Petroleum, Gas and Biofuels Institute. Her main fields of expertise are the future of energy, energy transition and climate change. Clarissa also is a fellow at the Energy & Infrastructure Center of the Brazilian Center for International Relations (CEBRI), and a member of the Global Future Council on the Future of Energy of the World Economic Forum. She also is a member of Suzano's Sustainability Committee. Previously, she was a member of the Board of Directors of Petrobras (2018-2019), chairwoman of its HSE Committee and a member of the Audit Committee. She also was a member of the Sustainability Committee of the BoD of Vale (2017-2019). Clarissa holds bachelor's and master's degrees in Economics from PUC-Rio.

He earned a Law degree from Mackenzie University and completed non-degree programs at the Getúlio Vargas Foundation, Harvard University and the Massachusetts Institute of Technology (MIT) in the United States, IMD in Switzerland and London Business School in England. He currently serves as (i) chairman of the board of ICC Brazil; (ii) vice-chairman of the board and member of the Suzano’s Sustainability & Strategy Committee; (iii) vice-chairman of the Board of Curators and of the Arymax Foundation, whose core activity is defending social rights; (iv) chairman of the board and vice-chairman of the Superior Council of the Ecofuturo Institute – Future for Sustainable Development, whose core activity is defending social rights; (v) chairman of the board of Brazil's Forestry Industry Association (Ibá); (vi) member of the board of the Industrial Development Studies Institute (IEDI); (vii) founding member of the board of Compromisso Todos Pela Educação (All for Education Commitment); (viii) member of the board of the São Paulo State Industry Federation (FIESP); (ix) member of the board of the Competitive Brazil Movement (MBC); and (x) executive member of the board of ICC Global; president of the Intelligent Tech & Trade Initiative (ITTI).

Holds a B.A. in Business Administration in Brazil and completed non-degree programs at Harvard Business School, Columbia University, IMD (Switzerland), The Aspen Institute, Singularity University and Stanford University. At the companies in Suzano’s economic group, he has held and/or holds the following offices: (i) since 2003, as chairman of the board and coordinator of the Management & Financial Committee; since 2006, as coordinator of the Sustainability & Strategy Committee, and also as a member of the Strategy & Innovation Committee and of the People Committee; (ii) since 2003, as the chief executive officer of Suzano Holding S.A., a publicly traded company whose core business is holding interests in other companies; (iii) since 2001, as a board member and the chief executive officer of Polpar S.A., a publicly traded company whose core business is holding interests in other companies; (iv) since 2004, as the chief executive officer of IPLF Holding S.A., a closely held company whose core business is holding interests in other companies; (v) from 2001 to 2015, as vice-chief executive officer and, since April 2015, as chief executive officer of Premesa S.A., a subsidiary of Suzano Holding S.A. whose core business is developing real estate projects. He also is a member of various social and cultural institutions, which include the following capacities: chairman of the board of the ALEF-Peretz School; member of the Deliberative Board of Associação Beneficiente Israelita Brasileira Hospital Albert Einstein; vice-chairman of the board and chairman of the Superior Council of the Ecofuturo Institute – Future for Sustainable Development.

Ms. Moll has a degree in Hotel Management, an Executive MBA from Fundação Dom Cabral an executive course from Harvard University, Insper and Insead. She currently serves as member of the board of directors of the Company. Mr. Moll also holds the following positions in other companies: (i) member of the board of directors of MDS; (ii) member of the ESG and People Committee of Bionexo, and (iii) member of the Board of the ELF (Group of Empowerment and Female Leadership of the Israeli Federation of the State of São Paulo (Federação Israelita do Estado de São Paulo – FISESP). Gabriela started her career at GI - Grupo de Incentivo and in 2010 founded AG Sport, a consultancy specializing in the idealization and organization of large events, in which she was responsible for the development of the company’s commercial and strategy area. In 2015, she joined Dotz, working on the business development fronts and implementing a new 100% digital self-service model to open up the small business market. At Suzano S.A., as of 2017, she led the communication of products and the digital transformation of the Paper and Packaging Unit. Also at Suzano, after its merger with Fibria, she worked in the integration cell responsible for monitoring the synergies arising from the merger.

CEO, Grupo Lorentzen: Grupo Empreendedor Inovador, Founding Partner of Aracruz Celulose, Cia de Navegacao Norsul, New Steel among others. Chairman HBS Latin America Advisory Board, Board Member of the CLP, Member of Advisory Board of WWF-Brasil, Endeavor Ambassador.

Fábio Barbosa holds a degree in Business Administration by the Getúlio Vargas Foundation of São Paulo and holds an MBA from the Institute for Management Development (IMD), in Lausanne, in Switzerland. He currently serves as a member of the Sustainability Committee of the Company. Mr. Barbosa currently holds the following positions in other companies: (i) Chief Executive Officer and member of the Board of Directors of Natura &Co Group, as well as chairman of the People and Organizational Development and Group Operational Committee; (ii) Member of The Board of Directors of Itaú Unibanco Holding S.A.; (iii) Member of the Board of Directors of the Brazilian Metalworking and Mining Company—CBMM; (iv) Member of the board of directors of AMBEV S.A; (v) Member of the Investments Committee of Gávea Investments; (vi) Member of the board of directors of UN Foundation; (vii) Member of the board of directors of Instituto Empreender Endeavor; (viii) Member of the Board of Directors of the Public Leadership Center—CLP; (ix) Executive Chairman of The Board of Directors of Itaú Foundation. His main professional experiences in the last five years include acting as: (i) President of Bank ABN Amro Real and with the acquisition of Bank Real by Santander, he became president of Santander Brazil. (ii) President of Febraban. Between 2011 and early 2015, he was president of Abril Mídia. Currently, Fábio is also a board member of Empreender Endeavor Institute; vice-president of the board of directors of Fundação Itaú; member of the Board of the Public Leadership Center (CLP) and the UN Foundation, on the UN support. In 2011, he was recognized a Personality of the Year, by the Brazil-United States Chamber of Commerce, in New York. In 2012, he received the prize Campeões da Terra, granted by PNUMA (United Nations Environmental Program), due to his business vision. And in 2017, he was recognized by the Worldfund for Education for bringing the topic of value to the forefront of the discussion. 

Management and Finance Committee - Non-Statutory

Holds a B.A. in Business Administration in Brazil and completed non-degree programs at Harvard Business School, Columbia University, IMD (Switzerland), The Aspen Institute, Singularity University and Stanford University. At the companies in Suzano’s economic group, he has held and/or holds the following offices: (i) since 2003, as chairman of the board and coordinator of the Management & Financial Committee; since 2006, as coordinator of the Sustainability & Strategy Committee, and also as a member of the Strategy & Innovation Committee and of the People Committee; (ii) since 2003, as the chief executive officer of Suzano Holding S.A., a publicly traded company whose core business is holding interests in other companies; (iii) since 2001, as a board member and the chief executive officer of Polpar S.A., a publicly traded company whose core business is holding interests in other companies; (iv) since 2004, as the chief executive officer of IPLF Holding S.A., a closely held company whose core business is holding interests in other companies; (v) from 2001 to 2015, as vice-chief executive officer and, since April 2015, as chief executive officer of Premesa S.A., a subsidiary of Suzano Holding S.A. whose core business is developing real estate projects. He also is a member of various social and cultural institutions, which include the following capacities: chairman of the board of the ALEF-Peretz School; member of the Deliberative Board of Associação Beneficiente Israelita Brasileira Hospital Albert Einstein; vice-chairman of the board and chairman of the Superior Council of the Ecofuturo Institute – Future for Sustainable Development.

Holds a B.Sc. in Mechanical Engineering from the University of São Paulo (USP) and a graduate degree in Finance from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and pursued a doctoral degree in Economics from the University of Campinas (Unicamp). Currently he holds the following offices: (i) since 2008, as a member of the Board of Directors and of the Sustainability and Strategy Committee of the Company; (ii) since 1998, as vice-chairman of the board of WEG S/A, a publicly traded company that manufactures, produces and markets industrial systems, machinery and equipment; (iii) since 2004, as vice-chairman of the board of Iochpe-Maxion S.A., a publicly traded company that manufactures and distributes engines, agriculture machinery and equipment and components for the steel, rail and automotive industries; (iv) since 2002, as a board member of Ultrapar Participações S.A., a publicly traded company that invests capital in the retail, industrial, agricultural and services sectors; and (v) as a board member of Itaú-Unibanco from 2012 to 2017. From 1972 to 1990, he worked at the Brazilian Development Bank (BNDES), where he was a director from 1987 to 1990. From 1990 to 1994, he was general corporate officer of the Iochpe-Maxion Holding Indústria Group, and from 1995 and 2008, he was CEO of Perdigão S.A. From 2007 to April 2013, he was chairman of the board of BRF - Brasil Foods, a publicly traded company that produces, markets and commercially explores food products in general.

Holds a B.Sc. in Engineering from the Technological Institute of Aeronautics (ITA) and graduate degrees from the Getúlio Vargas Foundation (FGV), IMD and Harvard Business School. Currently he is the Chief Executive Officer of the Company. He began his career at Citibank and later joined the financial holding company of the Klabin-Maepar Group. In 1989, he joined Dixie-Toga, where he became CEO in 1991, participating in the company’s expansion, merger and transfer of control. In May 2005, he joined the Votorantim Group as the CEO of Votorantim Cimentos, where he was responsible for the operations in Brazil and in 14 other countries. He was named by RISI, the world’s leading information provider to the global forest products industry, Latin American CEO of the Year for the pulp and paper industry in 2015, 2016 and 2017.

Marcelo Castelli is the Global CEO of Votorantim Cimentos, Brazil's leading construction material, mining and solutions company and the world's sixth largest company in the industry. Castelli leads a team of more than 11,000 people and operations in 11 countries: Brazil, Uruguay, Argentina, Bolivia, United States, Canada, Spain, Morocco, Tunisia, Turkey and Luxembourg.

Castelli consolidated his long career as executive in the pulp & paper industry, where he has held leadership positions in production, projects and business areas in major companies in the sector.

He holds a B.Sc. in Mechanical Engineering and an MBA in Business Administration and has also completed continuing education programs in international executive schools.

Rodrigo Calvo Galindo has been the Chief Executive Officer of COGNA EDUCAÇÃO S.A. since 01.01.2011. He has been managing educational institutions for over 28 years. He was CEO of Kroton Educacional, Director of Operations and Director of College Education at Kroton Educacional, CEO of Grupo Educacional IUNI, Administrative Dean of the University of Cuiabá and responsible for the management, accreditation and implementation of college education institutions in Bahia, Mato Grosso , Amapá, Acre and Rondônia. Rodrigo Calvo Galindo is currently a member of the Board of Directors of Cogna, Burger King Brasil, Clínica SIM and Endeavor and was a member of the Board of Directors of Arezzo.

Ms. Moll has a degree in Hotel Management, an Executive MBA from Fundação Dom Cabral an executive course from Harvard University, Insper and Insead. She currently serves as member of the board of directors of the Company. Mr. Moll also holds the following positions in other companies: (i) member of the board of directors of MDS; (ii) member of the ESG and People Committee of Bionexo, and (iii) member of the Board of the ELF (Group of Empowerment and Female Leadership of the Israeli Federation of the State of São Paulo (Federação Israelita do Estado de São Paulo – FISESP). Gabriela started her career at GI - Grupo de Incentivo and in 2010 founded AG Sport, a consultancy specializing in the idealization and organization of large events, in which she was responsible for the development of the company’s commercial and strategy area. In 2015, she joined Dotz, working on the business development fronts and implementing a new 100% digital self-service model to open up the small business market. At Suzano S.A., as of 2017, she led the communication of products and the digital transformation of the Paper and Packaging Unit. Also at Suzano, after its merger with Fibria, she worked in the integration cell responsible for monitoring the synergies arising from the merger.

Mr. Kakinoff holds a graduate degree in Business Administration from Mackenzie University. He currently serves as member of the board of directors of the Company. Mr. Kakinoff also hold the following positions in other companies: (i) member of the board of directors of Porto Seguro S.A.; (ii) member of the board of directors of Grupo Vamos S.A; (iii) member of the board of directors of Tembici S.A; (iv) chief executive officer of GOL Linhas Aéreas since 2012. Mr. Kakinoff began his career as an intern at Volkswagen do Brasil, at the age of seventeen. In the nineteen years in which he worked for the group, he held the positions of Officer of Sales & Marketing, Executive Officer of the Group for South America at the head office (Germany) and, in 2009, he was appointed president of Audi in Brazil, remaining until June, 2012. He was independent member of the board of directors of GOL Linhas Aéreas for two years.

People Committee - Non-Statutory

Holds a B.Sc. in Mechanical Engineering from the University of São Paulo (USP) and a graduate degree in Finance from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and pursued a doctoral degree in Economics from the University of Campinas (Unicamp). Currently he holds the following offices: (i) since 2008, as a member of the Board of Directors and of the Sustainability and Strategy Committee of the Company; (ii) since 1998, as vice-chairman of the board of WEG S/A, a publicly traded company that manufactures, produces and markets industrial systems, machinery and equipment; (iii) since 2004, as vice-chairman of the board of Iochpe-Maxion S.A., a publicly traded company that manufactures and distributes engines, agriculture machinery and equipment and components for the steel, rail and automotive industries; (iv) since 2002, as a board member of Ultrapar Participações S.A., a publicly traded company that invests capital in the retail, industrial, agricultural and services sectors; and (v) as a board member of Itaú-Unibanco from 2012 to 2017. From 1972 to 1990, he worked at the Brazilian Development Bank (BNDES), where he was a director from 1987 to 1990. From 1990 to 1994, he was general corporate officer of the Iochpe-Maxion Holding Indústria Group, and from 1995 and 2008, he was CEO of Perdigão S.A. From 2007 to April 2013, he was chairman of the board of BRF - Brasil Foods, a publicly traded company that produces, markets and commercially explores food products in general.

Holds a B.A. in Business Administration in Brazil and completed non-degree programs at Harvard Business School, Columbia University, IMD (Switzerland), The Aspen Institute, Singularity University and Stanford University. At the companies in Suzano’s economic group, he has held and/or holds the following offices: (i) since 2003, as chairman of the board and coordinator of the Management & Financial Committee; since 2006, as coordinator of the Sustainability & Strategy Committee, and also as a member of the Strategy & Innovation Committee and of the People Committee; (ii) since 2003, as the chief executive officer of Suzano Holding S.A., a publicly traded company whose core business is holding interests in other companies; (iii) since 2001, as a board member and the chief executive officer of Polpar S.A., a publicly traded company whose core business is holding interests in other companies; (iv) since 2004, as the chief executive officer of IPLF Holding S.A., a closely held company whose core business is holding interests in other companies; (v) from 2001 to 2015, as vice-chief executive officer and, since April 2015, as chief executive officer of Premesa S.A., a subsidiary of Suzano Holding S.A. whose core business is developing real estate projects. He also is a member of various social and cultural institutions, which include the following capacities: chairman of the board of the ALEF-Peretz School; member of the Deliberative Board of Associação Beneficiente Israelita Brasileira Hospital Albert Einstein; vice-chairman of the board and chairman of the Superior Council of the Ecofuturo Institute – Future for Sustainable Development.

Ms. Moll has a degree in Hotel Management, an Executive MBA from Fundação Dom Cabral an executive course from Harvard University, Insper and Insead. She currently serves as member of the board of directors of the Company. Mr. Moll also holds the following positions in other companies: (i) member of the board of directors of MDS; (ii) member of the ESG and People Committee of Bionexo, and (iii) member of the Board of the ELF (Group of Empowerment and Female Leadership of the Israeli Federation of the State of São Paulo (Federação Israelita do Estado de São Paulo – FISESP). Gabriela started her career at GI - Grupo de Incentivo and in 2010 founded AG Sport, a consultancy specializing in the idealization and organization of large events, in which she was responsible for the development of the company’s commercial and strategy area. In 2015, she joined Dotz, working on the business development fronts and implementing a new 100% digital self-service model to open up the small business market. At Suzano S.A., as of 2017, she led the communication of products and the digital transformation of the Paper and Packaging Unit. Also at Suzano, after its merger with Fibria, she worked in the integration cell responsible for monitoring the synergies arising from the merger.

Marcelo Castelli is the Global CEO of Votorantim Cimentos, Brazil's leading construction material, mining and solutions company and the world's sixth largest company in the industry. Castelli leads a team of more than 11,000 people and operations in 11 countries: Brazil, Uruguay, Argentina, Bolivia, United States, Canada, Spain, Morocco, Tunisia, Turkey and Luxembourg.

Castelli consolidated his long career as executive in the pulp & paper industry, where he has held leadership positions in production, projects and business areas in major companies in the sector.

He holds a B.Sc. in Mechanical Engineering and an MBA in Business Administration and has also completed continuing education programs in international executive schools.

Mr. Kakinoff holds a graduate degree in Business Administration from Mackenzie University. He currently serves as member of the board of directors of the Company. Mr. Kakinoff also hold the following positions in other companies: (i) member of the board of directors of Porto Seguro S.A.; (ii) member of the board of directors of Grupo Vamos S.A; (iii) member of the board of directors of Tembici S.A; (iv) chief executive officer of GOL Linhas Aéreas since 2012. Mr. Kakinoff began his career as an intern at Volkswagen do Brasil, at the age of seventeen. In the nineteen years in which he worked for the group, he held the positions of Officer of Sales & Marketing, Executive Officer of the Group for South America at the head office (Germany) and, in 2009, he was appointed president of Audi in Brazil, remaining until June, 2012. He was independent member of the board of directors of GOL Linhas Aéreas for two years.

Rodrigo Calvo Galindo has been the Chief Executive Officer of COGNA EDUCAÇÃO S.A. since 01.01.2011. He has been managing educational institutions for over 28 years. He was CEO of Kroton Educacional, Director of Operations and Director of College Education at Kroton Educacional, CEO of Grupo Educacional IUNI, Administrative Dean of the University of Cuiabá and responsible for the management, accreditation and implementation of college education institutions in Bahia, Mato Grosso , Amapá, Acre and Rondônia. Rodrigo Calvo Galindo is currently a member of the Board of Directors of Cogna, Burger King Brasil, Clínica SIM and Endeavor and was a member of the Board of Directors of Arezzo.

Holds a B.Sc. in Engineering from the Technological Institute of Aeronautics (ITA) and graduate degrees from the Getúlio Vargas Foundation (FGV), IMD and Harvard Business School. Currently he is the Chief Executive Officer of the Company. He began his career at Citibank and later joined the financial holding company of the Klabin-Maepar Group. In 1989, he joined Dixie-Toga, where he became CEO in 1991, participating in the company’s expansion, merger and transfer of control. In May 2005, he joined the Votorantim Group as the CEO of Votorantim Cimentos, where he was responsible for the operations in Brazil and in 14 other countries. He was named by RISI, the world’s leading information provider to the global forest products industry, Latin American CEO of the Year for the pulp and paper industry in 2015, 2016 and 2017.

Appointment and Compensation Committee - Non-Statutory

Holds a B.Sc. in Mechanical Engineering from the University of São Paulo (USP) and a graduate degree in Finance from the Pontifical Catholic University of Rio de Janeiro (PUC-RJ) and pursued a doctoral degree in Economics from the University of Campinas (Unicamp). Currently he holds the following offices: (i) since 2008, as a member of the Board of Directors and of the Sustainability and Strategy Committee of the Company; (ii) since 1998, as vice-chairman of the board of WEG S/A, a publicly traded company that manufactures, produces and markets industrial systems, machinery and equipment; (iii) since 2004, as vice-chairman of the board of Iochpe-Maxion S.A., a publicly traded company that manufactures and distributes engines, agriculture machinery and equipment and components for the steel, rail and automotive industries; (iv) since 2002, as a board member of Ultrapar Participações S.A., a publicly traded company that invests capital in the retail, industrial, agricultural and services sectors; and (v) as a board member of Itaú-Unibanco from 2012 to 2017. From 1972 to 1990, he worked at the Brazilian Development Bank (BNDES), where he was a director from 1987 to 1990. From 1990 to 1994, he was general corporate officer of the Iochpe-Maxion Holding Indústria Group, and from 1995 and 2008, he was CEO of Perdigão S.A. From 2007 to April 2013, he was chairman of the board of BRF - Brasil Foods, a publicly traded company that produces, markets and commercially explores food products in general.

Partner of X|R Consultoria since 2018. Worked for 25 years at Hay Group. From 1991 to 2009, he covered all career phases, beginning as a consultant and retiring as a Managing Partner. In 2010, he became an associate consultant of the Hay Group. During this period, he led important projects at a wide array of organizations in terms of size, complexity, nationality, activity, etc. Since 2019 he has been an independent member of Suzano's Compensation and Eligibility Committees. From 2012 to 2016, he served as a statutory independent member of the Compensation Committee of Banco Santander Brasil l S/A and independent member of the People and Compensation Committee of Votorantim S/A. Eduardo holds a bachelor's degree in Political and Social Sciences from the University of São Paulo (USP) - Brazil.

Lilian Guimarães is an executive officer with over 30 years of experience in the People Management area, where she has led numerous projects focusing on the importance of human capital in business management, transforming HR into a strategic partner in these processes. She has experience as an executive officer and member of executive committees of major national and multinational organizations; she built her career mainly in the financial market, including positions as Human Resources Vice-President at renowned organizations: Natura, from 2013 to 2015, and the banks ABN Amro-Real and Santander from 2000 to 2013. She currently serves as a director and member of the HR committees of companies and mentor of professionals from different areas. She holds a bachelor's degree in Business Administration from the Getúlio Vargas Foundation, completed a non-degree program in Human Resources at the same institution, received a graduate degree from Senac and completed a coaching program at the Ecosocial Institute. Bachelor's degree in Corporate Governance from the Dom Cabral Foundation (FDC).

Compensation

The Company’s compensation policy was approved at a Board of Directors meeting and all executive officers have at least one sustainability target linked to their variable compensation (representing at least 10% of their short-term variable compensation).

Below is the compensation structure of Suzano’s Executive Board:

Fixed Compensation

Members of the Executive Board will be entitled to fixed compensation, which is established in accordance with market standards and is designed to compensate, attract and retain executives who add value to the Company’s results.

Variable Compensation

Executive Board members are entitled to variable compensation and short-term incentive plans to reward them for achieving targets that sustain the Company’s short-term strategy.

They are also entitled to long-term incentive plans which, through phantom shares, reward executives for achieving long-term targets that sustain the medium- and long-term strategic goals of the Company.

Both types of variable compensation are designed to align executive compensation with the goals of shareholders and the sustainability of the Company.

Both the fixed and variable compensation of Executive Board members are established in accordance with market standards, based on research conducted by renowned consulting firms specializing in the subject.

The table below indicates the percentage of the portion of fixed compensation (salary / management fees (pro labore), direct and indirect benefits and post-employment benefits), short-term variable compensation (bonus and profit sharing) and long-term variable compensation (share-based) for 2022:

Fixed Compensation Short-Term Variable Compensation Long-Term Variable Compensation
39% 15% 46%

Benefits

The Company grants the following benefits to Executive Board members: food and meal vouchers, group life insurance, personal accident insurance, private pension plan, health check-up, health plan, dental plan and vehicle.

Similar to compensation, the benefits too are established according to market standards through research conducted by a renowned consulting firm specializing in the subject.

Measurement - Total Shareholder Return (TSR)

Total Shareholder Return is a concept used to measure the performance of different companies’ shares in a given period, combining the stock price to show the total return for shareholders. The share price at the time of redemption is multiplied by the TSR during the period (which varies between 75% and 125%), depending on the performance of the SUZB3 share in relation to its industry peers in Brazil – “Reference Group.”

TSR is calculated based on the variation in the share price (average of the last 90 trading sessions) of the “Reference Group” on the grant date and the redemption date. The return on Suzano’s shares (SUZB3) during the period will then be compared to that of the “Reference Group” and, depending on its position in the comparison, we have the following TSRs:

The companies in the “Reference Group” are:

Reference Group Stock Exchange
Klabin B3
Empresas CMPC Santiago Stock Exchange
International Paper NYSE
Suzano B3
UPM Helsinki Stock Exchange
Ranking - TSR Performance Factor
1st 125%
2nd 112.5%
3rd 100%
4th 87.5%
5th 75%

Number of shares/phantom shares held by the Executive Board in the 4th quarter of 2022:

Programs 2022 2023 2024 2025 2026 Total
Long-Term Incentive Plan* - 44,690 218,317 921,264 31,757 1,216,028
Share Appreciation Right** 20,557 118,747 75,425 152,504 - 367,233
Share Performance Plan*** - - 111,685 113,161 - 224,846
Total 20,557 163,437 405,427 1,186,929 31,757 1,808,107

* Program with immediate settlement after end of grace period.

** Program with maximum exercise term of two years after the end of grace period of the plan. After this period, settlement will be compulsory.

*** Considering the end of the grace period with lock-up period of three years.

Code of Conduct

Suzano’s Code of Conduct is widely disseminated to all stakeholders to express and reaffirm our business commitment and what we expect from our business partners.

Another channel is the External Ombudsman, managed by an independent company, which also receives reports by telephone (0800 771 4060) and email: ouvidoriaexterna@austernet.com.br.