The succession process is quite important to every company. Done correctly, it can ensure the perpetual existence of an organization while if done incorrectly; it can lead to a quick death of even the largest brands.
Consequently, most companies typically have the succession process planned for to occur at a particular time. This is primarily done through setting retirement age. Unfortunately, however, there are certain instances where companies are forced to commence the succession process before the planned time is reached. For instance, a series of events in the last three weeks have significantly accelerated the succession process at Bradesco, the second largest lender in Brazil.
After serving as chairman for close to three decades, the ever-reliable Lazaro Brandao announced that he would be resigning from his post on October 11, 2017. While the 91-old does deserve the rest, the decision came as a surprise to some at the bank. Fortunately, the bank had a competent replacement lined up in Luiz Carlos Trabuco, the current president and previous vice chairman of the board. However, with Luiz Carlos Trabuco taking over as president, it also mean that the position of president would also become vacant. This is what the bank was not planned for, but the wealth of leadership talent at the bank means that it is always prepared to make the decision if the need arises.
The next Bradesco president is expected to be selected in early 2018. The decision will be made by the board at a meeting to be held a month before the shareholders’ meeting slated for March 2018. Thus far, there have been no indications from the bank on what specifically they are looking for in the next president except for the fact that he/she must be from within the company. This is a move that many in the industry expected, especially owing to the fact that each of the last three presidents the bank has had were long-serving employees before being appointed. It is also worth noting that the president before that was Amador Aguiar, the bank’s founder. Consequently, the bank has thus far never been led by a leader sources externally.
With the date for the selection of the new president being so far away, Luiz Carlos Trabuco Cappi will for the time being continue serving as the president. For a man of his managerial stature, serving in this role while still being board chair should not be a problem. He will particularly be encouraged by the fact that his predecessor, Lazaro Brandao successfully held the two positions for more than nine years before deciding to vacate the position of president in 2009 for Marcio Cypriano.
Even while fulfilling the responsibilities of board chair, the next president will have the guiding hand of Luiz Carlos Trabuco Cappi. Cappi’s tenure has coincided with some of the most tumulus periods for the Brazilian economy. Despite that, however, he has successfully managed to keep the Bradesco brand growing, even while others have faltered and international banks have left the country. Consequently, there are likely no challenges that the new president will face where Luiz Carlos Trabuco Cappi cannot offer some helpful advice.
Like the other Bradesco presidents before him, Luiz Carlos Trabuco Cappi has been very passionate about mentoring his juniors. With the next president almost certainly being selected from among the current vice presidents at Bradesco, Cappi’s commitment to mentorship will have been of great help to the bank. When he does eventually leave Bradesco later on, he will leave behind a strong legacy for mentoring, especially with the continued success of the corporate university he set up at the bank.
Learn more about Luiz Carlos Trabuco Cappi: https://www.brasil247.com/pt/247/economia/321974/Trabuco-Bradesco-vai-privilegiar-“prata-da-casa”-em-escolha-de-presidente.htm