One of the founders of Dotz, Roberto Chade will no longer be CEO of the company. The executive handed in his letter of resignation this Thursday and with that ended a 24-year cycle in the post — he had commanded the company since 2000, when he founded the business together with his brother Alexandre Chade, current president of the board of directors .
The solution to replace it will be internal and has been in preparation for a year. The new CEO will be Otávio Araújo, an old acquaintance of the founding brothers, who until then was acting as COO, or chief operating officer, in the nomenclature used by the company itself.
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Araújo, who is a partner at Dotz, has been with the company since 2011, where he previously served as CFO and CTO. He is also managing partner of Ascet Investimentos, the founding brothers’ firm that controls Dotz with a 67% stake.
According to Dotz, the succession began to be structured in April last year, when Araújo was elected chief operating officer. According to the company, Roberto Chade will maintain his role as controlling shareholder, “directing, supporting and monitoring the results of our operations and the generation of value for all stakeholders.” The COO position will remain vacant.
The exchange comes at a time when Dotz has been chasing breakeven. In the fourth quarter of last year, the company recorded a net loss of R$7.7 million, 78.4% lower than that recorded in the same period of the previous year, but it has already managed to turn Ebitda into positive territory, with R$2 .2 million, compared to a negative result of R$5.6 million in the previous quarter and R$24.6 million in the fourth quarter of 2022.
