Guilherme Paulus Asks For Temporary Removal From Board of Directors

The founder and current chairman of the Board of Directors of CVC Corp., Guilherme Paulus asked to be temporarily removed from the CVC’s board of directors. The motive for the request is due to published material in last weeks Operation Discard of the Federal Police. The information given is that the company CVC Operadora and Agência de Viagens of which Paulus is a shareholder, but not a member of CVC Corp, could have transferred stock to the Orion company, which is under investigation for money laundering.

In a statement sent this morning to the stock exchange, CVC informed them that “They had received a request for temporary removal from the Board of Directors from Guilherme Paulus thereby enabling the investigation to continue in another company in which he has a stock to continue.”

Silvio José Genesini Junior will assume Guilherme Paulus’ position and responsibilities. He will represent Paulus until the investigation is complete and everything is clarified. Guilherme Paulus will absent himself from board meetings until the investigation has been completed.

The statement continued with the clarification that company CVC TUR LTDA and company CVC Brasil are two separate and distinct entities. CVC TUR LTDA is in no way affiliated or part of CVC Brasil and any of its subsidiaries or any of its 1190 commercial locations. The directors of CVC wanted to clarify that CVC Brasil does not own or had any collaboration with companies or persons that have appeared in the press. CVC assures the public that it is committed to ethical practices in its corporation and that it will continue to comply with legislation. CVC Operadora and Agência de Viagens have done their best to clarify the situation and remain transparent to the public regarding the situation in order to comply with the law and not impede the investigation into Orion.