The board of TOTVS S.A. at its board meeting held on September 26, 2017, approved the resignation of independent member of the Board of Directors and member of the Personnel and Compensation Committee, Mr. Pedro Moreira Salles; approved election of Ms. Claudia Elisa de Pinho Soares as independent member of the Board of Directors, to hold office until the next Annual Shareholders Meeting, in accordance with Article 150 of Federal Law 6,404/76, to replace Mr. Pedro Moreira Salles; and appointment of Ms. Claudia Elisa de Pinho Soares as member of the Personnel and Compensation Committee, to replace Mr. Pedro Moreira Salles.
Totvs SA is a Brazil-based company engaged in the information technology (IT) sector. The Company focuses on developing integrated management software solutions, collaboration and productivity platforms, as well as on consulting services. The Company mainly provides enterprise resource planning (ERP) applications, which electronically integrate the strategic and operational levels of a user company. It offers ERP software in various areas, such as administration, education, finance, industrial, human resources, customer service and logistics. The Company operates in Brazil, Argentina, Colombia, Mexico, Portugal and the United States, among others. It controls a number of subsidiaries, including Solucoes em Software e Servicos TTS Ltda, Datasul Argentina SA and Neolog Consultoria e Sistemas SA.
TOTVS S.A. 
