dLocal Completes Transition to Majority Independent Board

DLocal Limited announced the completion of its transition to a nine-person, majority independent Board of Directors, now comprising five independent members. This move follows a governance update shared in August. Paco Ybarra and Nelson Mattos have been appointed as independent directors, bringing extensive experience in global technology, financial markets, and risk management. Ybarra previously had a 36-year career at Citigroup, while Mattos has held leadership roles at Google and IBM. The company also thanked outgoing board members Eduardo Azar, Martín Escobari, Jacobo Singer, and Sergio Fogel for their contributions. DLocal is establishing three new committees: Nominating & Corporate Governance, Compensation, and Product & Technology. DLocal powers local financial technology in emerging markets, connecting global merchants with consumers across Africa, Asia, and Latin America.