PagSeguro Digital appoints Maria Judith de Brito as new chair after founder Luis Frias steps down from the board.
PagSeguro Digital (PAGS) announced the resignation of founder and indirect controlling shareholder Luis Frias as chairman and director, effective August 21, 2026. Frias, who has been a key figure in the company’s leadership, will no longer serve on the board, according to a regulatory filing.
Maria Judith de Brito, already a board member, has been named the new chair. The transition occurs amid ongoing leadership stability at PagSeguro, though the departure of its founder marks a notable shift in governance. No immediate reason for Frias’s exit was provided in the filing.
Shares of PAGS showed minimal reaction in after-hours trading, reflecting investor focus on continuity rather than disruption.