Management

Our relationship with the investors and the market is based on transparence. We met all the legal and regulatory requirements applying to the publicly held companies with securities traded in Brazil and abroad.

The structure of Ambev’s Governance is integrated by the Board of Directors, the Executive Board of Officers and the Audit Committee. The Board of Directors counts on the support from the Operations, Finance and Remuneration Committee and the Related Parties and Antitrust Conducts Committee.

Our Reference Form, filed with the CVM under Brazilian Corporate Law, contains complementary information regarding Management, such as qualification and remuneration.

 

Board of Directors

The Board of Directors oversees Ambev’s executive officers. The Board of Directors is currently comprised of eleven effective members and two alternate member, and provides the overall strategic direction of Ambev. Directors are elected at general shareholders’ meetings for a three-year term, re-election being permitted. Day-to-day management is delegated to the executive officers of Ambev, of which there are currently eleven. The Board of Directors appoints executive officers for a three-year term, re-election being permitted.

The Board members appoint the executive officers and ensure that the company’s values, ethics and culture are practiced and spread among the employees. They use their extensive knowledge of the business to ensure that Ambev reaches its long-term goals and maintains its short-term competitiveness. Moreover, the Board of Directors ensures that Ambev pursues its short-term business goals without compromising our long-term growth, while at the same time ensuring that Ambev’s corporate values are practiced.

Aiming at ensuring a greater independence and autonomy among the main Governance bodies, no director exercises an executive office in the Company, despite all of them being shareholders. The Company’s Co-Chairmen of the Board of Directors and the Chief Executive Officer are separate positions held by different people.

The Board of Directors evaluates constantly their performance and internal procedures. The Board of Directors and Executive Officers are evaluated annually based on objective results targets associated to the Company’s performance, and this evaluation is used to verify their right to variable compensation.

Find below the members of our Board of Directors:

Name Office End of Term
Victório Carlos De Marchi Co-Chairman of the Board of Directors 2023

Mr. De Marchi is Co-Chairman of the Board of Directors of Ambev. Mr. De Marchi joined Antarctica in 1961 and held various positions during his tenure, including Chief Executive Officer from 1998 to April 2000. Mr. De Marchi was also president of the Brewing Industry National Association (Sindicerv) until February 2002 and is a member of the Orientation Committee of FAHZ. Mr. De Marchi has a degree in economics from Faculdade de Economia, Finanças e Administração de São Paulo and a law degree from Faculdade de Direi

Carlos Alves de Brito Co-Chairman of the Board of Directors 2023

Mr. Brito is Co-Chairman of the Board of Directors of Ambev. He has also served, since December 2005, as Chief Executive Officer of ABI. He joined Brahma in 1989 and has held various management positions during his tenure. He served as Chief Operating Officer of Ambev from 1999 to 2003, as Chief Executive Officer for Latin America in 2004 and as Chief Executive Officer for North America in 2005. Mr. Brito holds a degree in mechanical engineering from the Universidade Federal do Rio de Janeiro and an MBA from Stanford University.

Milton Seligman Member of the Board of Directors 2023

Mr. Seligman is a member of the Board of Directors of Ambev. He served as Corporate Affairs Officer of the Company from 2004 until 2013 and was also a member of the Board of Directors of Tenedora from 2013 to 2016. Mr. Seligman has a degree in engineering from Universidade Federal de Santa Maria (Rio Grande do Sul).

Roberto Moses Thompson Motta Member of the Board of Directors 2023

Mr. Thompson is a member of the Board of Directors of Ambev. He is also a board member of ABI and Lojas Americanas S.A., a retail company. He holds a degree in engineering from Pontifícia Universidade Católica do Rio de Janeiro, and an MBA from the Wharton School of the University of Pennsylvania.

José Heitor Attilio Gracioso Member of the Board of Directors 2023

Mr. Gracioso is a member of the Board of Directors of Ambev. Mr. Gracioso joined Antarctica in 1946 and held various positions during his tenure. In 1994, Mr. Gracioso was elected to Antarctica’s Board of Directors and, in 1999, he was elected Chairman of the Board of Directors, a position held until April 2000. He holds a degree in marketing from Escola Superior de Propaganda de São Paulo, a degree in business administration from Fundação Getulio Vargas and a degree in law from Faculdade de Direito de São Bernardo do Campo.

Vicente Falconi Campos Member of the Board of Directors 2023

Mr. Campos has been a member of the Board of Directors of Ambev since 2000 and, previously, of Brahma since 1997. He is a founder and a board member of Falconi Consultores S.A.. He is also a member of the Board of Directors of Eletrobras, ISMART and of the advisory council of Fundação Zerrener. He also participates in the Quality and Sustainability Committee of BRF. He holds a degree in Engineering from Universidade Federal de Minas Gerais (UFMG), and M.Sc. and Ph.D. degrees from the Colorado School of Mines, Colorado, USA. Mr Campos holds the title of Emeritus Professor from UFMG.

Luis Felipe Pedreira Dutra Leite Member of the Board of Directors 2023

Mr. Dutra is a member of the Board of Directors of Ambev. He has also served, since January 2005, as Chief Financial Officer of ABI. He joined Brahma in 1990 and has held numerous positions during his tenure, including that of Chief Financial Officer and Investor Relations Officer of Ambev. Mr. Dutra holds a degree in economics from Universidade Cândido Mendes and an MBA in financial management from Universidade de São Paulo.

Cecília Sicupira Member of the Board of Directors 2023

Ms. Sicupira is a member of the Board of Directors of Ambev. Currently, she is an alternate member of the Board of Directors of São Carlos Empreendimentos e Participações S.A., a member of the Board of Directors of S-BR Global Investments Ltd., S-Velame Administração de Recursos e Participações S.A. (a holding company which holds an ownership interest in ABI), and a member of the Board of Directors of Restaurants Brands International Inc. Ms. Sicupira holds a degree in International Business Administration from the American University of Paris and attended the Harvard Business School’s Management Program.

Nelson José Jamel Member of the Board 2023

Mr. Jamel is an alternate member of the Board of Directors of Ambev. From 2007 to 2008, he held the position of Vice President of Finance for Western Europe of ABI. He was also Chief Financial Officer of Compañia Cervecera AmBev Dominicana, C. por A.. From 2009 to 2015, he held the position of Chief Financial and Investor Relations Officer of the Company (previously Old Ambev). Currently he is Chief Financial Officer of the North America Zone of Anheuser-Busch InBev N.V/S.A. Mr. Jamel holds a degree in production engineering from Universidade Federal do Rio de Janeiro from COPPE/UFRJ.

Antonio Carlos Augusto Ribeiro Bonchristiano Independent member of the Board of Directors 2023

Mr. Bonchristiano is an independent member of the Board of Directors of Ambev. He has also acted as a member of the Board of Directors of several companies, including San Antonio Internacional, Ltd., LBR – Lácteos Brasil S.A., BRZ Investimentos S.A., Estácio Participações S.A., BHG S.A. – Brazil Hospitality Group, BR Properties S.A., Equatorial Energia S.A., GP Investments, Ltd., ALL – América Latina Logística S.A., Companhia Energética do Maranhão – CEMAR, Hopi Hari S.A., Contax Participações S.A., Gafisa S.A. and Magnesita Refratários S.A. He was also a member of the Board of Directors and Chief Executive Officer of Submarino S.A. Mr. Bonchristiano has a degree in politics, philosophy and economics from the University of Oxford.

Marcos de Barros Lisboa Independent member of the Board of Directors 2023

Mr. Lisboa is an independent member of the Board of Directors of Ambev. Mr. Lisboa has a career that includes experiences in teaching institutions, government and financial segment. Currently, he is the President of Insper, where, from 2013 to April 2015, he also acted as Vice-President. From 2009 to 2013, Mr. Lisboa was the Vice-President of Operational Insurance, Controls and Support of Itaú Unibanco S/A, where he also acted as Executive Officer from 2006 to 2009. Further, from 2005 to 2006, he was the President of IRB – Instituto de Resseguros do Brasil (Reinsurance Institute of Brazil) and, between 2003 and 2005, he acted as Secretary of Economic Politics of Federal Revenue Office (Ministério da Fazenda). Mr. Lisboa has a degree and a masters in economics from Universidade Federal do Rio de Janeiro and a Ph.D. in economics from the University of Pennsylvania.

Michel Dimitrios Doukeris Member of the Board of Directors 2023

Mr. Doukeris is an alternate member of the Board of Directors of Ambev. Since he joined the company in 1996, he held various positions, including Global Chief Sales Officer of ABI and Operations General Manager for the APAC Zone (Asia Pacific) of ABI. Currently he is also Chief Executive Officer for the North America Zone at ABI. Mr. Doukeris holds a degree in chemical engineering from Universidade Federal Santa Catarina and a master’s degree in marketing from Fundação Getulio Vargas. He has also completed post-graduate programs in marketing and marketing strategy from the Kellogg School of Management and Wharton Business School in the United States.

Carlos Eduardo Klutzenschell Lisboa Board Member (Alternate) 2023

Carlos Eduardo Lisboa joined Ambev in 1993 and has since then held several positions in the company. He served as Marketing Vice-President between 2005 and 2011, as President of BU Austral at Latin America South Zone between 2011 and 2012, and as President of Labatt, our operation in Canada, between 2013 and 2014. From 2014 to 2016 Carlos Eduardo held the position of Global Vice President for Global Brands at Anheuser-Busch InBev N.V/S.A. Currently he serves as Zone President at Zone Latin America South (LAS) and is an alternate member of the Board of Directors of Ambev.

(1) Annual General Meeting to be held in 2023.

Audit Committee

The responsibilities of the ‘Conselho Fiscal’ include supervision of Management, performing analyses and rendering opinions regarding Ambev’s financial statements and performing other duties in accordance with Brazilian Corporate Law and our By-Laws. None of the members of the ‘Conselho Fiscal’ is also a member of the Board of Directors or of any Committee thereof. The members are elected in the General Shareholders’ Meeting and their term of office will be of one year, reelection being permitted. One ‘Conselho Fiscal’ effective member and one alternate are elected by minority shareholders under the terms of the law.

In addition, we have relied on the exemption provided for under Rule 10A-3(c)(3) of the Sarbanes-Oxley Act of 2002, which enables us to have the ‘Conselho Fiscal’ perform the duties of an audit committee for the purposes of such Act, to the extent permitted by Brazilian law. We do not believe that reliance on this exemption would materially adversely affect the ability of our ‘Conselho Fiscal’ to act independently and to satisfy the other requirements of such Act.

Name Position Term Expires (1)
José Ronaldo Vilela Rezende Effective 2021
Elidie Palma Bifano Effective 2021
Vinicius Balbino Bouhid Effective 2021
Emanuel Sotelino Schifferle Alternate 2021
Eduardo Rogatto Luque Alternate 2021
Carlos Tersandro Fonseca Adeodato Alternate 2021

(1) Annual General Meeting to be held in 2021.

Operations, Finance and Compensation Committee

The Operations, Finance and Compensation Committee is the main link between the policies and decisions made by the Board of Directors and Ambev’s management team. The Operations, Finance and Compensation Committee’s responsibilities are:

– monitoring the Company´s three-year plan;

– issuing its opinion on decisions taken by the Board of Directors on compensation policy for Company directors and high-performance employees, including their individual compensation packages in order to ensure alignment of interests between shareholders and beneficiaries of compensation packages, and ensure the latter have adequate compensation and incentives to achieve exceptional performance;

– monitoring the evolution of the Company´s actuarial liabilities and investments in pension plans;

– issuing its opinion on any technical feasibility study prepared by the board in relation to the expectation of generating future taxable income discounted to present value that will enable the realization of deferred tax assets;

– monitoring investor relations strategy and the evolution of the Company´s ratings placed by risk rating agencies;

– monitoring the evaluation of board members, key executives and talents and their respective succession plans;

– issuing its opinion on the Company´s annual investment planning (capex);
– issuing its opinion on the board´s proposals in relation to opportunities for corporate restructuring, mergers, acquisitions, spin-offs, consolidations or disposals of equity interests involving the Company;

– monitoring the Company´s capital structure and cash flow and issuing its opinion on strategy for remunerating the Company´s shareholders; and

– verifying compliance with the Company´s financial Policy on Risk Management.

Current members of the Committee are:

– Victório Carlos De Marchi (Chairman)

– Luis Felipe Pedreira Dutra Leite

– Roberto Moses Thompson Motta

– Fernando Mommensohn Tennenbaum

Throughout the year, the Operations and Finance Committee holds at least four meetings. The members of the Committee are elected by the Board of Directors.

Related Parties and Antitrust Conducts Committee

The responsibilities of the Related Parties and Antitrust Conducts Committee are to assist the Board of Directors in the following matters:

– Situations of conflict of interests in general between the Company and related parties;

– Compliance, by the Company, with legal, regulatory and statutory provisions concerning related party transactions;

– Compliance, by the Company, with legal, regulatory and statutory provisions concerning antitrust matters; and

– Other matters the Board of Directors may consider relevant and in the interest of the Company.

Current members of the Related Parties and Antitrust Conducts Committee are:

– Victório Carlos De Marchi (Chairman)

– José Heitor Attilio Gracioso

– Carlos Emmanuel Joppert Ragazzo

– Everardo de Almeida Maciel

– Marcos de Barros Lisboa

Executive Board of Officers

The Executive Board of Officers is integrated by the Chief Executive Officer and 11 officers, with a three year term of office, reelection being permitted. They are experienced professionals, know the market where the Company acts, and are on average more than ten years in the company. The Executive Board of Officers is responsible for managing Ambev’s businesses and submitting proposals for medium term and long term planning to the Board of Directors.

Name Office
Jean Jereissati Neto Chief Executive Officer

Mr. Jereissati is Ambev’s Chief Executive Officer. He joined Ambev in 1998 and has held various positions, including Chief Executive Officer of the CAC Zone, Chief Execitive Officer of China’s operations and Chief Executive Officer of Asia and Pacific North. He holds a degree in business administration from Fundação Getulio Vargas and a Corporate MBA from Ambev.

Lucas Lira Chief Financial, Investor Relations and Shared Services Officer

Lucas Lira is our Chief Financial, Investor Relations and Shared Services Officer. He joined the Company in 2005 and, since then, has held leadership positions in the legal and finance areas, including Global Vice-President Finance, M&A at ABI, Head of Investor Relations department, Corporate & Compliance Legal Officer, PMO – Supply Chain and Legal Manager HILA and M&A. Lira holds a degree in law from Universidade Federal de Minas Gerais – UFMG and a LL.M. from Columbia University School of Law.

Eduardo Braga Cavalcanti de Lacerda Commercial Vice President Officer

Mr. Lacerda is the Commercial Vice President Officer of Ambev. Since 2001, when he joined the Company as a trainee, he held various positions, including Non-Alcoholic Beverages Vice President Officer of the Company, Budget and Business Performance Officer of ABI, head of Mergers and Acquisitions in Europe for ABI, Financial Officer in Europe for ABI and Chief Executive Officer of the Company’s zone CAC. Mr. Lacerda holds a degree in engineering from Pontifícia Universidade Católica do Rio de Janeiro.

Ricardo Morais Pereira de Melo People and Management Vice President Officer

Mr. Melo is Ambev’s People and Management Vice President Officer. Since he joined the Company in 1996, Mr. Melo held various sales positions, including Sales Manager, Commercial Manager in Salvador and in São Paulo, Regional Sales Executive Officer in the Northeast and in Rio de Janeiro, as well as Sales Vice-President of Ambev operations in Canada and Sales Strategy Vice-President at Anheuser-Busch InBev, in the United States. He holds a degree in civil engineering from Universidade Católica de Pernambuco and a Corporate MBA from Ambev.

Mauricio Nogueira Soufen Industrial Vice President Officer

Mr. Soufen is Ambev’s Industrial Vice President Officer. Since he joined the Company in 1996 as a Production Supervisor, he held positions of Brewery Manager in Scotia and Belgium – where he was the only foreigner that has led the historical Stella Artois brewery, in Leuven. When Mr. Soufen returned to Brazil, served as Regional Director for the North /Central-West region and Director of our Engineering Center based in Jacareí, State of São Paulo. Along with the title of brewmaster, Mr. Soufen has a degree in mechatronics engineering from Escola Politécnica da Universidade de São Paulo and an MBA from MIT – Sloan School of Management.

Eduardo Eiji Horai Information Technology Vice President Officer

Mr Eduardo Horai is Ambev’s Information Technology Vice President Officer. In the last seven years, he has served as Solutions Architecture and Customer Solutions senior manager and director for Latin America at Amazon Web Services. Previously, he worked in the Enterprise Architecture department at Toyota Motor Europe – Belgium. Mr. Horai holds a bachelor degree in Computer Science from Universidade de Campinas (UNICAMP) and a graduate degree in Innovation and Entrepreneurship from the Vlerick Leuven-Gent Management School.

Ricardo Gonçalves Melo Corporate Affairs and Compliance Vice President Officer

Mr. Gonçalves Melo is Ambev’s Corporate Affairs and Compliance Vice President Officer. Since 1991, when he joined the Company, he has held several positions, including Tax Manager, Litigation Legal Manager, People Manager – Production and Legal Director. He has a law degree from Universidade do Estado do Rio de Janeiro and a MBA from Coordenação dos Programas de Pós-Graduação e Pesquisa de Engenharia. In addition, he concluded an executive program with the INSEAD-Wharton Alliance.

Rodrigo Figueiredo de Souza Procurement Vice President Officer

Mr. Figueiredo is Ambev’s Procurement Vice President Officer. Since 1997, when he joined the Company, he has held various positions, including Logistics Executive Officer in Latin America North, Vice-President of Supply Chain in Russia and Ukraine and Vice-President of Logistics in Europe. Mr. Figueiredo holds a degree in civil engineering from Escola Politécnica da Universidade de São Paulo, an executive MBA from INSEAD-Wharton Alliance and a Corporate MBA from Ambev.

Paulo André Zagman Logistics Vice President Officer

Mr. Zagman is Ambev’s Logistics Vice President Officer. Since 2002, when he joined the Company, he held several positions, including Chief People Officer in Latin America South and Chief Logistics Officer in Latin America South. He has a bachelor degree in civil engineering from Pontifícia Universidade Católica do Rio de Janeiro and an specialist degree in supply chain and logistics from Massachusetts Institute of Technology and Stanford Graduate School of Business Executive Education.

Leticia Rudge Barbosa Kina Legal Vice President Officer

Ms. Kina is Ambev’s Legal Vice President Officer. She joined the Company in 2002 and has held several positions, including Legal Manager and Tax, Corporate and Litigation Director. Ms. Kina holds a law degree from Pontifícia Universidade Católica de Campinas and a degree in economics from Universidade Estadual de Campinas, in addition to a Corporate MBA from Ambev, specialization in tax law from Universidade de São Paulo and a corporate reputation course from Stanford.

Daniel Cocenzo Sales Vice President Officer

Mr. Cocenzo is Ambev’s Sales Vice President Officer. Since 1999, when he joined the Company, he has held various positions, including People and Management Officer for the Central America and Caribbean zone, Sales Officer in Dominican Republic, Premium and High End Executive Officer, and Regional Sales Officer in Rio de Janeiro and Espírito Santo. Mr. Cocenzo holds a degree in business administration from Pontifícia Universidade Católica do Rio de Janeiro, an MBA from IBMEC and a Corporate MBA from Ambev.

Daniel Wakswaser Cordeiro Marketing Vice President Officer

Mr. Wakswaser is Ambev’s Marketing Vice President Officer. He joined the Company as a trainee in 2008 and has held several positions in Ambev and ABI. Wakswaser created and led the digital strategy area at Ambev, at the start of 2010. He was also involved in the creation of ZX, ABI’s innovation arm, and also led, in Brazil, the acquisition and integration of breweries Colorado and Wäls. In the recent years, he held leadership roles in Brazil, Europe and the United States, including Global Vice President of Adjacencies, Global Marketing Vice President of Consumer Connections & Capabilities, Craft & Specialties Beer Director in Europe and Craft Beer Director in Brazil. Wakswaser holds a degree in marketing from ESPM.

Pablo Firpo Non-Alcoholic Beverages Vice President Officer

Mr. Firpo is the Non-Alcoholic Beverages Vice President Officer of Ambev. Since 2002, when he joined the Company as a trainee, he held various positions at the Company and ABI in marketing organization, including Marketing Manager at Quilmes (a Company’s subsidiary at Argentina), Marketing Head in Chile, Marketing Director for Core Brands at the Company’s zone LAS and Global Communications Director for Budweiser. In 2017 he became the Non-Alcoholic Beverages Vice President Officer at the Company’s BU Rio de la Plata and held such position until the beginning of 2020. Mr. Firpo has a bachelor degree in Economics from Universidad del CEMA, in Argentina.

Click on the names to have more information about each officer.