Board of Directors
Our Board has 11 members, of which 4 are independent, and 2 are women. The Board's mission is to protect and enhance RD Saúde's assets, contributing with guidelines that make the business sustainable and acting as a guardian of the company's essence, culture, and interests of all stakeholders.
Chairman of the Board of Directors and member of the People, Finance, Health Businesses, and Strategy Committees of RD Saúde. Graduated in Civil Engineering from the Escola Politécnica da Universidade de São Paulo (POLI-USP) and postgraduate in Business Management from Fundação Getúlio Vargas (FGV), represents the founding family of Droga Raia, held executive positions from 1977 to 2011, until the Company's merger, accumulating decades of experience in the sector.
Board member of Raia Drogasil S.A.. Entrepreneur and economist who graduated from Universidade Mackenzie, he represents one of the founding families of Drogasil, accumulating decades of experience in pharmaceutical retail.
Leads the Strategy and Sustainability Committees and is a member of the Finance, People, and Health Businesses Committees. She has a degree in Business Administration (University of São Paulo) and holds an MBA from INSEAD (France). She has worked with e-commerce projects at E&Y and was the Director of Marketing, Institutional Communication, and Sustainability at Droga Raia.
Previously responsible for investor relations and corporate planning of RD Saúde, he has more than 20 years of industry experience and is a member of ABRAFARMA's board of directors (Brazilian Association of Pharmacy and Drugstore Chains). In the past, he worked as a consultant for McKinsey in Brazil and Italy and Arthur Andersen in Brazil. He holds a degree in Business Administration from FGV-SP and a MBA from the University of Michigan.
Member of the Strategy and Health Businesses Committees, represents one of the founding families of Drogasil, accumulating decades of experience in pharmaceutical retail. He graduated in Business Administration (PUC São Paulo) and attended Harvard's Owner/President Management program. He also serves as a member of the Board of Directors of Klabin S.A. and Fundação Bienal de São Paulo.
Member of the Finance, Sustainability and People Committees. He graduated in Civil Engineering and Business Administration (Universidade Mackenzie) and attended the “Program for Management Development” at Harvard Business School. He has solid experience in national and multinational companies, including positions of CEO of Elevadores Atlas, partner of JP Morgan, and Executive President of Satipel Industrial.
Member of the People Committee. Business Administrator graduated from FMU, he represents one of the founding families of Drogasil, accumulating solid experience in pharmaceutical retail.
Independent member and member of the Strategy and Health Businesses Committees. Electronic Engineer graduated from Instituto Mauá de Tecnologia. He founded E+Tech, specialized in creating and developing technology for POS and outdoor media, served as Director of Digital Business at Grupo Abril and CEO of Eletromídia. He is currently a member of Eletromídia's Board of Directors and member of the Strategy Committee.
Independent member and Vice-President of the Board of Directors. Leader of the Health Businesses Committee and member of the Finance, People, and Strategy Committees. He studied economics at FAAP, Financial Executive Improvement at Fundação Getúlio Vargas (FGV), and Capital Markets at New York University (NYU). He also serves as Vice-Chairman of the Board of Directors of Porto Seguro S/A and a member of the Board of Directors of Itaú Unibanco Holding S/A. He has solid experience in finance and innovation.
Independent member. It also participates in the Health Businesses and Strategy Committee. Serial entrepreneur, investor, co-founder, and CEO of Dafiti Group, he has solid experience in the retail sector with a focus on e-commerce and innovation.
Independent member. Leader of the People Committee and member of the Audit, Sustainability, Strategy, and Health Businesses Committees. Graduated in Social Communication with an Executive MBA at COPPEAD/UFRJ and specialization courses at MIT (Sloan School of Management) and Fundação Dom Cabral. She worked for more than 30 years in the retail market, focusing on Marketing, Commercial, Operations, and Human Resources.
More Information
The selection criteria for members are established in the Policy for the Appointment, Selection, and Vesting in Office of Director and take into account the relevant qualifications and experience to generate value for the business, reputation, and ethical conduct.
The Presidency
The president, Antonio Carlos Pipponzi, has more than 40 years of experience in pharmaceutical retail and doesn't occupy an executive role in the RD Saúde. Additionally, under our Bylaws, the Vice-Chairman of the Board, Mr. Marco Bonomi (independent director), is responsible for replacing the president in his absence or temporary impediment (including possible conflicts of interest), assuming the duties provided for in the bylaws and internal regulations of the Board of Directors.
The last renewal of the Board of Directors' mandate took place in 2023. We had one of our independent members step down, replaced by another independent member. We also focused on the diversity of expertise; in this regard, it's worth noting that our board members have proven expertise in areas such as pharmaceutical retail, finance, marketing, sales, e-commerce, human resources, healthcare, technology, and innovation.
Board of Directors's Assessment Process
RD Saúde's Board of Directors conducts an annual and formal performance evaluation, following good corporate governance practices and seeking continuous improvement of the Board.
In 2022, the evaluation was conducted by an external consulting firm with specialized knowledge and experience in assessing boards of directors of large companies, using a method aligned with best corporate governance practices.
Through this process, not only the members but also key executives were consulted and assessed the functioning of the Board and its Committees in four phases: (i) pre-alignment of the process by the consulting firm with the People Committee; (ii) individual meetings - interviews conducted by the consulting firm with all members of the Board, C-Level executives, and members of advisory committees; (iii) consolidation and analysis by the consulting firm of the questionnaire results and inputs obtained during the interviews; and (iv) preliminary presentation of the results to the People Committee and subsequently to all members of the Board of Directors, with a discussion of the results and the definition of action plans to be implemented, aiming for continuous process improvement.
Overall, the results of the 2022 evaluation showed significant and consistent improvement. As a highlight, we mention the overall dynamics of the Board and its interactions, which were reflected in different dimensions. The size and composition of the Board were considered effective, especially the mix of competencies that was added with the election of new members, bringing essential expertise for the execution of RD Saúde's growth strategy. The topic identified as the most significant challenge during the last assessment cycle was the role and performance of the Board in the management of invested companies, a relatively recent theme for the administration and one that is being addressed in action plans to be executed. Three themes were highlighted for future focus - strategy, people, and digital transformation.
The Board of Directors is supported by advisory committees to address strategic issues.
Audit Committee
An advisory body with permanent functioning and non-statutory nature, with three members, all independent, led by Maria Fernanda Teixeira and composed of Sylvia Leão (independent member and specialist in the retail sector) and Pedro Zan (specialist in corporate accounting). This committee is responsible, among other things, for analyzing the financial statements and supervising the areas of risk management, internal audit, compliance, internal controls, data management and cyber security.
Holds a degree in Business Management from Universidade Metodista, post-graduated in Economy and Marketing from Fundação Getúlio Vargas (FGV), attended the programs of Leadership in Global Economy (Thunderbird), Executive Leadership (INSEAD) and How to Have Efficient Boards (Harvard Business School). With strong experience as a counselor and member of Audit Committees and Fiscal Councils, she worked as executive in the areas of technology, innovation, sustainability, risk management, compliance, corporate governance and strategy. Currently, she holds the position of Leader in the Audit Committee of Raia Drogasil S.A., member of the Audit Committee of Simpar and Vamos, chairman of the Board of Directors of Pérola S.A., Director at Visor, The Dialogue - Think Tank and INSEAD, as well as chairman of AMCHAM's Diversity and Inclusion Committee.
Is an Accountant graduated from Faculdade de Ciências Econômicas Alvares Penteado, with a postgraduate degree in Systems Analysis from the same institution and an Executive MBA from INSPER. He has more than 20 years of experience in controlling, management information, M&A, opening international branches and strategic planning with effective implementation and management. He served as a member of the Finance Committee of OSESP and currently acts as member of the Audit Committee of Klabin S.A. and Raia Drogasil S.A..
Has a degree in Social Communication, Executive MBA in Business Administration at COPPEAD-UFRJ and specialization courses at MIT – Massachusetts Institute of Technology – Sloan School of Management and Fundação Dom Cabral. With more than 30 years of experience in retail, she worked at Walmart Brasil (1995-2000), Grupo Pão de Açúcar (2000-2012) and Carrefour (2015-2018), where she acted as Vice-President in the areas of Marketing, Sales, Operations and Human Resources. She also served as Vice-President of Marketing and Innovation at BRF (2013-2014) and is currently a member of the Board of Directors of TOTVS, Grupo Baumgart, Vivara and Raia Drogasil (where she is also member of the People, Strategy, Audit and Sustainability Committees).
Health and Strategy Committee
Led by advisors Cristiana Pipponzi and Marco Bonomi (an independent advisor), the board is composed of advisors Antonio Carlos Pipponzi, Paulo Galvão, Marco Bonomi, Sylvia Leão, Eugênio De Zagottis, Philipp Povel, and Eduardo Azevedo Marques de Alvarenga, in addition to external consultant Felipe David. They analyze and promote innovation in RD Saúde's healthcare business, seeking new avenues of operation, and also collaborate in shaping RD Saúde's strategic planning.
Is a business administrator graduated from Fundação Getúlio Vargas - São Paulo School of Business Administration (FGV EAESP) with an extension at Sciences Po Paris. He also studied Value Investing at Columbia Business School and Owner/President Management (OPM) at Harvard Business School. He began his career in the Investment Banking division of JP Morgan and was an investment analyst at Advis Equities. From 2014 to 2023, he worked at Constellation Investimentos, where he was a partner, member of the Executive and Investment Committee, and responsible for investments in the healthcare, education, real estate, consumer and retail sectors. In 2024, he founded bip – a clothing brand for healthcare professionals.
The resumes of the other members can be found in the "Board of Directors" section.
Sustainability Committee
Led by advisor Cristiana Pipponzi and composed of advisors Plínio Musetti and Sylvia Leão, along with external consultants Olga Stankevicius Colpo and Rodrigo Wright Pipponzi, its role is to develop and propose to the Board of Directors guidelines, commitments, and actions related to the environmental, social, and governance (ESG) agenda, as well as oversee the work of RD Saúde's Sustainability Department.
Is a psychologist with a degree from the Universidade Mogi das Cruzes (UMC). She also holds various specialization courses, including Human Resources Management from Fundação Getúlio Vargas (FGV), International Business from Harvard University, Executive MBA from the University of São Paulo (USP), an Advanced Course for Board Directors from the Brazilian Institute of Corporate Governance (IBGC), among others. She built her career as a Partner in Consulting at PwC, where she worked for over thirty years, opting for early retirement in 2009 and leading the consulting practice in South and Central America, specializing in the Organization, People & Change Management business line. From 2009 to 2016, she served as CEO of Participações Morro Vermelho S.A. Currently, she is a Statutory Member of the Boards of Directors of Banco BMG S.A., Grupo São Martinho S.A., and Solvi Participações S.A., among others. As a Consultant, Advisor, and Executive, she has supported boards and companies in implementing robust corporate and family governance models and new business management systems. She has acted as a change agent and organizational transformation specialist, with a solid experience in designing, implementing, and monitoring governance and business management systems.
Is a business administrator with a degree from FGV-SP, specializing in Social Entrepreneurship from Stanford University (USA). He is the co-founder of Editora MOL, a publishing company focused on socio-editorial projects. Currently, he is the founder and Chairman of the Board of Directors of the Instituto ACP, an institute dedicated to providing investments for the institutional development of the Brazilian third sector.
The resumes of the other members can be found in the "Board of Directors" section.
Finance Committee
Led by Eugênio De Zagottis (board member) and composed by Plínio Musseti, Antonio Carlos Pipponzi, Marco Ambrogio Crespi Bonomi (board members), in addition to external consultants – Maria Fernanda dos Santos Teixeira and Pedro Guilherme Zan – its mission is to advise the Board on strategic issues for the financial health of the business.
The resumes of the external consultants are provided in the aforementioned body, the "Audit Committee."
The resumes of the other members can be found in the "Board of Directors" section.
People Committee
Led by independent advisor and human resources management specialist with extensive experience in the retail sector, Sylvia Leão, and composed of advisors Antonio Carlos Pipponzi, Cristiana Pipponzi, Plínio Musseti, Renato Pires Oliveira Dias, and Marco Bonomi (independent advisor), this committee advises the Board on all matters related to RD Saúde's human capital, including the evaluation, appointment, succession, and compensation of executives, as well as the overall human resources strategy, with a focus on talent attraction and retention.
The resumes of the other members can be found in the "Board of Directors" section.
The group responsible for executive management and strategy execution is elected by the Board of Directors. The terms of office are two years, with reelection permitted.
Currently, the Executive Board is led by the Chief Executive Officer (CEO) and is composed of vice-presidencies dedicated to key themes of our strategy. All members of the Management undergo annual evaluation processes conducted by external consultants and by the People Committee of the Board of Directors.
The head of RD Saúde since July 2013, he has over 26 years of multi-industry retail experience in large Brazilian and global organizations, including Livrarias Saraiva (2005-2013) and Office Net (2000-2005), where he was CEO, and Submarino, Sam's Club (Walmart Group), Mappin and C&A. He has a Degree in Business Administration awarded by FAAP.
Responsible for Finance, Controlling, Tributary and Fiscal, Corporate Planning, Property, Supplies, Administrative and Shared Services Center (CSC). He has over 40 years of professional experience in RD Saúde, where he has held various positions in finance. He holds a degree in Accounting awarded by Faculdades Integradas de Guarulhos, an MBA in Finance from FIA-USP and attended the Advanced Management Program (AMP) program at IESE.
Responsible for developing new business in healthcare, Bruno joined RD Saúde in 2011 and contributed to the company's expansion efforts. He previously worked at Odontoprev. Graduated in Dentistry from the University of São Paulo with specialization in Business Administration from Fundação Getúlio Vargas and attended the Executive Program at Stanford University and the Strategy for Health Care Delivery at Harvard Business School.
Graduated in Business Administration from PUC-SP, with an MBA from HEC Paris and extension programs at Harvard and FGV. A senior executive with extensive experience in business leadership. Currently holding the position of Director of Investor Relations and Corporate Affairs at RD Saúde, having also played a significant role as Director of Omnichannel/E-commerce, where he led a 15-fold growth in activity over a two-year period. He accumulates 20 years of experience in Strategy, Finance, Online and Offline Operations, and Management in Retail and the Financial Market, notably as a partner at Península, successfully involved in the acquisition, development, and IPO of Carrefour Brazil. He also worked at publicly traded companies Grupo Pão de Açúcar and Carrefour.
Responsible for Inventory Management, Logistics and Information Technology. He has more than 20 years of experience in the Company and was with the Arthur Andersen consulting Company for three years. He holds a degree in Electrical Engineering awarded by Escola Politécnica (USP), a postgraduate degree in Business Administration from FGV and an MBA from the University of Pittsburgh.
Responsible for Purchasing, Category Management and Marketing. He has more than 15 years of retail experience, including one year in Borders (bookstore chain - USA). He also spent three years in the field of consulting at Arthur D. Little and Accenture. He holds a degree in Business Administration from FGV and an MBA from the University of Michigan.
Responsible for Human Resources at RD Saúde since April 2014. She has more than 30 years of professional experience in Human Resources, including 17 years in large retail organizations such as Makro (2010-2014) and Walmart/Bompreço (1997-2010). She received a degree in Psychology from UNICAP-PE and one from PMD - Program for Management Development award by IESE (University of Navarra).
Responsible for Droga Raia's retail operations since 2013, he has more than 20 years of professional experience in retail, including three years as vice president and director of the Walmart Group and 13 years as a retail consultant at Accenture in Brazil and Mexico. He holds a degree in Naval Engineering from the Escola Politécnica (USP) and an MBA awarded by INSEAD.
RD Saúde has a Fiscal Council installed, at the request of the Directors themselves. The members are elected in the Ordinary Shareholders' Meeting and the Fiscal Council currently has 4 full members and an equal number of alternates.
Composition of the Fiscal Council
Full Members
Master's degree in Accounting and Actuarial Sciences from PUC São Paulo, postgraduate in Financial Administration from the Faculdade de Ciências Econômicas de São Paulo. Current member of the Fiscal Council of five companies in the management of eucalyptus forests field (to supply wood for sale to the cellulose and paper industry). Former Member of the Fiscal Council of ABECS (Brazilian Association of Credit Card Companies and Services) and the Fiscal Council of Seicho-No-Ie do Brasil. Partner at BRW Consultoria since January 2009.
Graduated in Accounting (Universidade Cidade de São Paulo) and in Legal Sciences (Universidade de Guarulhos). In the last five years, he has served as: (1) Member of the Board of Directors of Galvão Engenharia S/A, a company that operates in the engineering and industrial construction services sector; (2) Alternate Fiscal Council Member of Telefônica, a company that operates in the telecommunications sector; (3) Member of the Fiscal Council of Brascod Comercio Importação e Exportação Ltda; (4) Member of the Board of Directors of Protende Sistemas e Methods de Construções Ltda; (5) Member of the Board of Directors of Plastifluor Industria Comercio de Vedações Ltda.; and (6) Member of the Fiscal Council of Raia Drogasil S.A..
Lawyer, graduated from Universidade Mackenzie and post-graduated in Procedural Law. In recent years, he has served as: (1) partner at Leão e Tohmé Advogados Associados (1994-2011); (2) alternate member of the Fiscal Council of Raia Drogasil S.A.; and (3) member of the Fiscal Council of companies of Grupo Klabin S/A.
Graduated in Accounting, certified in internal auditing by the IIA (Certified Internal Auditor), and serving as a member of the audit committee by the IBGC, with a well-established career spanning experience in governance, auditing, operational risk management, regulatory affairs, technology, and integrated risk, having worked for market-leading companies such as EY, HSBC, and Bradesco. Over the past 5 years, she has served as Executive Superintendent of Internal Control and Operational Risk at Banco Bradesco S/A.
Alternate Members
Graduated in Business Administration from Unisant’Anna, in Theology from the Biblical Theological Seminary, postgraduate in Leadership from the South American Theological Faculty, and holds an MBA in Financial Management, Controller, and Auditing from the Getúlio Vargas Foundation (FGV). Flávio has 30 years of experience in finance and business administration. Specialized in Financial Planning, Accounting and Tax Management, Corporate Governance, M&A, Treasury and Administrative Management, he has worked as Financial Manager at Bell Micro Products, Controller at Megaware Industrial Ltda., Financial Consultant at Wert Capital Business Advisory, and Financial Director at Tellus Comércio Imp. E Exp. Ltda. He is currently a Director at Companhia Agricola e Pastoril Fazenda Rio Pardo and Financial Consultant at the company Revisora Paulista-Contabilidade.
Graduated in production engineering from the Federal University of Rio de Janeiro, with an MBA from The Wharton School, and certified as a board member and fiscal council member by the IBGC. Currently, she is a member of the Finance, Audit, and Risk Committee of Grupo Baumgart, a member of the Audit Committee of Eletronuclear, and a Board Member of PIOB, an international body overseeing international auditing standards. Previously, she served as External Fiscal Council Member of Banco Bradesco S.A. for four years, Independent Board Member of Serpro, Board Member of Zurich Resseguradora S.A., Chairman of the Fiscal Council of Statkraft Energias Renováveis S.A., Chairman of the Fiscal Council of Brasiliana Participações S.A. (BNDESPar and AES), Alternate Board Member of Invepar S.A., and Alternate Fiscal Council Member of Tecnisa.
In the last five years, he has worked as: (1) Director responsible for the financial and accounting area of GL Holdings S/A., whose main activity is the management of its assets and participation in other companies; (2) Director responsible for the financial and accounting area of GL Agropecuária Ltda., whose main activity is agricultural production on its own or other people's land, and the marketing of its products, and may participate in other companies as a quotaholder or shareholder; (3) Director responsible for the financial and accounting area of Gepel Rural S/A., whose main activity is agricultural and forestry exploration; (4) Director responsible for the financial and accounting area of Tantra Participações Ltda., whose main activity is the management of its assets and participation in other companies, commercial or civil, as a partner, shareholder or quotaholder; (5) served as a member of the Fiscal Council of companies of Grupo Klabin S/A. (Celucat S/A, Papelão Ondulado do Nordeste S/A - PONSA and Bacell S/A); and (6) member of the Fiscal Council of Raia Drogasil S.A..
Graduated in Business Administration (Universidade Mackenzie), Law (FMU), and Social Communication (ESPM), she served as a member of the Fiscal Council of Klabin S/A for 16 years, member of the board of directors of Klabin, and partner of Leão e Tohmé Advogados Associados since 2001.
RD Saúde adopts a Compensation Policy for Officers, approved through a formal and transparent procedure at a meeting of the Board of Directors. Based on standardizing compensation rules and procedures, this policy serves as a professional and impersonal guideline for decision-making. It is aligned with market practices and the management and corporate governance system.
The compensation strategy emphasizes our commitment to attracting and retaining executives, including competitive salaries, profit sharing, and long-term incentives. Compensation is established based on market research and the Company's strategic alignment.
Board of Directors: they receive fixed monthly fees following the market standard to stimulate and reward the Company's results. The fees are equal for all members, except for the chairman of the Board, given his attributions, responsibilities, and time demands.
Management: they receive fixed monthly fees in addition to direct and indirect benefits (such as medical care, dental care, and life insurance) within market standards. Management is entitled to share-based and variable compensation linked to short, medium, and long-term goals of a financial, operational, and strategic nature, including sustainability goals. The bonuses and the share plan intend to encourage the management to align themselves with the Company's more significant objectives.
Non-Statutory Management and Executive Managers: they receive a fixed monthly salary in addition to direct and indirect benefits within market standards, as well as bonuses according to the evaluation of the results achieved, whose objectives are to generate alignment and competitiveness with the market. They may receive share-based and variable compensation linked to short, medium, and long-term goals. The bonuses and the share plan intend to encourage senior management to align themselves with the Company's objectives.
It is part of our values to develop ethical, honest, and fair business, respecting our customers, partners, shareholders, and Brazilian society. We work towards this by formulating management policies and guidelines, disseminating a culture of integrity, and managing internal processes and controls to control risks and respond quickly to ethical, moral, and legal deviations.
Our main instrument focused on integrity is the People Code, RD Saúde's code of ethics and conduct that guides the behavior and attitudes of everyone who acts on behalf of the organization and in its internal and external relationships.
Regarding the awareness and engagement processes, we provide training on an internal platform for all employees, including executive leadership, covering anti-corruption, anti-fraud, relationships with public bodies, and conflict of interest, in addition to the People Code.
We also have the Supplier Code of Conduct, with specific guidelines for this audience. Within the scope of our supplier governance process, 100% of operations are evaluated in terms of corruption risk, and specific training is offered on the ethical conduct expected by RD Saúde for this stakeholder, who occupies a relevant position in our operation. Additionally, the supplier governance area carries out an evaluation process under the ESG criteria of RD Saúde's partners, including sustainability, governance, and anti-corruption aspects. All RD Saúde suppliers must accept the People Code and the Anticorruption, Antifraud, and Relationship with Government Entities and Agencies Policies.
Another important tool is the Ethics Conversation Channel, which receives calls classified as general and sensitive, according to their criticality, such as complaints of harassment, discrimination, corruption, and fraud, among others. The Channel can be accessed by all audiences, internal and external, guarantees the whistleblower's confidentiality, and follows anti-retaliation principles for all calls. Complaints are investigated internally and taken for discussion and final decision by the Ethical Affairs Commission and the Ethics Committee.
RD Saúde has an Ethical Affairs Commission (CAE), which reports to the Ethics Committee, which, in turn, reports directly to the Audit Committee of the Board of Directors. Comprised of seven directors from different areas, this commission debates and deliberates on investigating sensitive cases, indicating ways to solve and deal with them according to the nature and severity of the cases, taking the topics to the Ethics Committee for a final decision.
Due to the nature of our business, we work with a base of more than 48 million active customers. We are responsible for protecting the personal information we use in our pharmacies' routines and digital channels.
In this way, to ensure respect for the privacy of our customers and to mitigate possible risks related to information security, we have adopted some measures, such as:
- Hiring specialized consultancies for the structuring and continuous improvement of the GDPR and Cybersecurity compliance project;
- Hiring specialized consultancies for the structuring and continuous improvement of the GDPR and Cybersecurity compliance project;
- Appointment of Person in Charge for the Processing of Personal Data (DPO);
- Permanent updating and training of employees focused on internal and external policies, including Privacy Policy, Access Management, Information Classification, and Security Incident Management and Communication;
- Creation of the Privacy Portal for customers, employees, partners, and service providers;
- Privacy Committees with regular meetings and the participation of RD Saúde's senior management;
- Periodic audits of our information systems, ensuring the implementation of the controls necessary for the management of risks and threats; and
- Conducting routine tests to identify possible vulnerabilities.
In addition, we follow several requirements to conduct our information security management, such as CIS Controls, PCI/DSS, ISO/IEC 27001, and ISO/IEC 27005. We are updating our Business Continuity Management System (BCMS) and process for Crisis Management, maintaining our goal of achieving ISO/IEC 27001 certification soon.
Protecting our customers' information is one of the main focuses of our risk management process. Therefore, we will continue to adopt technical, physical, and organizational measures to mitigate security risks, ensuring the transparency and reliability of our activities.