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Home WEG: 'billionaire factory'! Find out who is the new 'owner' of the Brazilian multinational and everything about salaries and fortune

WEG: 'billionaire factory'! Find out who is the new 'owner' of the Brazilian multinational and everything about salaries and fortune

22 May 2024 to 17: 46
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photo: reproduction

Long-time executive takes command of the WEG factory, the successful Brazilian multinational

Alberto Yoshikazu Kuba, who started as an intern at WEG, was appointed CEO of the company last month, succeeding Harry Schmelzer Júnior after 22 years of dedication. WEG, recognized as a “billionaire factory”, is valued at around R$166 billion, and Kuba assumes the mission of continuing expanding the company's participation in new markets and maintaining sustained growth.

Alberto Kuba began his journey at the Brazilian multinational WEG in 2002 as an intern. Graduated in electrical engineering from Unesp, with an MBA in business management by FGV and specialization in corporate finance from Fundação Dom Cabral, Kuba quickly rose within the company. In 2010, he was sent to China to manage the operations of the WEG factory in the country, where he remained for a decade, consolidating the company's presence in the Asian market. 

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WEG’s remuneration, governance and billionaire heirs

On April 23, the general meeting of shareholders of the Brazilian multinational WEG approved the remuneration of the executive board, allocating up to R$166,43 million for this purpose. Of this total, R$22,11 million is allocated to the board of directors and R$144,32 million to the statutory board. Factory remuneration is made up of a fixed part and a variable part, adjusted according to responsibilities and the performance of each executive.

WEG is famous for being a “billionaire factory”, with 29 heir shareholders listed among the richest by Forbes magazine. Among them are Eduardo Voigt Schwartz, Mariana Voigt Schwartz Gomes, Anne Werninghaus, Livia Voigt and Dora Voigt de Assis, with fortunes ranging from R$5,61 billion to R$6,63 billion. The founding families hold a significant stake in the company, controlling 64,58% of the shares.

Growth mission of the Brazilian multinational

In his first official statement as CEO of the Brazilian multinational WEG, Kuba highlighted the continued focus on growth and innovation. “We will continue to focus on growth and pay attention to market movements, valuing the reinvestment of profits, the continued expansion of markets, investment in technology, participatory management, as well as the appreciation and development of people”, stated Kuba. He also highlighted the importance of keeping the company agile and innovative, while preserving its culture and values.

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