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Sergio Eraldo de Salles Pinto has been an independent member of the board of directors since March 10, 2008. He is the Chief Executive Officer of the Bozano Group. Mr. Salles is also a current board member of Embraer, Ouro Preto Óleo e Gás, Votorantim S.A. and Chief Executive Officer of Bozano Investimentos. In addition to holding these positions, Mr. Salles served as a borad member of Netpoints, Executive Director of Banco Bozano, Simonsen S.A and was Chairman of Bozano Simonsen Securities of London. Mr. Salles holds a bachelor’s degree in economics from Centro de Ensino Unificado de Brasília and electrical engineering from Universidade de Brasília, a master’s degree in economics from Fundação Getúlio Vargas do Rio de Janeiro, and a master’s degree in business administration from Pontifícia Universidade Católica do Rio de Janeiro.