Nu Holdings says CEO Velez to resume direct command over management

, Reuters -  7:30 PM ET 3/21/2025 Company News

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March 21 (Reuters) - Nu Holdings Ltd ( NU ), which runs Brazilian digital lender Nubank, said on Friday that Chief Executive Officer David Velez will resume direct command over the company's management team "to help streamline market and global operations".

Since 2022, Nu Holdings's ( NU ) management has been reporting to Nubank's President and Chief Operating Officer Youssef Lahrech who, in turn, reported to Velez. Now Velez will again directly oversee the management team, including Lahrech.

In a securities filing, the firm also said Jagpreet Duggal will step down from the Chief Product Officer position in early April, adding the role will not be backfilled as the functions will be split between Lahrech and Nubank's head for Brazil Livia Chanes.

Duggal will become an external advisor to the management team, the filing said. (Reporting by Sao Paulo newsroom; Editing by Brendan O'Boyle)

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