João Nonell Günther Amaral to resign from the Board of Directors

João Nonell Günther Amaral will resign as of 28 August from the Board of Directors of Musti Group. This was announced by the company. Musti will convene a Shareholder’s Extraordinary General Meeting to appoint a replacement.

The resignation is due to an internal leadership reorganisation aligned with Musti's ultimate parent company Sonae. On 3 July Sonae announced the reorganisation with a strategic commitment to talent development and value creation across the Sonae group leading to changes in Sonae's Executive Committee and the appointment of Amaral as the CEO of Bright Pixel, a Sonae group venture capital company in Cybersecurity, Retail Technologies, Digital Infrastructure and Emerging Technologies. Simultaneously, Eduardo Humberto Santos Piedade was elected as Sonae's Executive Director (Chief Development Officer).

The Company's Board of Directors proposes to the Extraordinary General Meeting, that shall be held on 18 September in Helsinki, Finland, that Eduardo Piedade be elected as an ordinary member of the Company's Board of Directors to succeed Amaral for a term of office expiring at the end of the next Annual General Meeting. No other changes are proposed.