Business
dLocal completes transition to a majority independent Board with appointments of Paco Ybarra and Nelson Mattos
MONTEVIDEO, Uruguay, Dec. 23, 2025 (GLOBE NEWSWIRE) -- dLocal Limited (“dLocal”, the “company”, “we”, “us”, and “our”) (NASDAQ:DLO), a leading financial
About this update from Dlocal Limited
[{"type":"text","content":"MONTEVIDEO, Uruguay, Dec. 23, 2025 (GLOBE NEWSWIRE) -- dLocal Limited (“dLocal”, the “company”, “we”, “us”, and “our”) (NASDAQ:DLO), a leading financial technology company powering payments across emerging markets, today announced it has completed the transition to a nine-person, majority independent Board of Directors, now comprising five independent members. Following through on the governance update shared in August during its second quarter earnings presentation, dLocal has appointed Paco Ybarra and Nelson Mattos as independent directors, further strengthening the Board’s depth in global technology, financial markets, and risk management. Mr. Ybarra joins the Board after a 36‑year career at Citigroup, where he was CEO of Citi’s Institutional Clients Group (ICG), a member of Citi’s Management Committee, and co-chaired the ICG Risk Management Committee. He has also held roles on corporate boards, including his current tenure at The Man Group plc. Mr. Mattos brings extensive product development and engineering leadership experience, including service as Vice President at Google for Europe and Emerging Markets and earlier with IBM as a Distinguished Engineer and Vice President for Information and User Technologies. He is an independent consultant advising startups across Silicon Valley, Europe, and emerging markets, and sits on several boards and non‑profits. “The completion of our transition to a Board with five independent directors reflects our commitment to strong governance and long‑term value creation,” said Andres Bzurovski, co-founder of dLocal, who will take on the role of chairman in the new board composition. “Nelson’s experience scaling complex engineering organizations, his deep understanding in technology and product development, and his dedication to emerging markets are a strong fit for the geographies we are committed to. Paco’s expertise across global markets in financial services will bring enormous operational, strategic and business know-how to the company’s Board, as we continue to innovate for enterprise merchants and deepen our leadership in emerging markets.” “I’m delighted to support dLocal’s next chapter,” said Paco Ybarra. “The company’s disciplined approach to risk, combined with its focus on customer impact in complex markets, is a compelling foundation for long‑term value creation.” “I’m honored to...