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Longtime Executive Takes Command of 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 takes on the mission to continue expanding the company’s presence in new markets and maintain sustained growth.
Alberto Kuba began his journey at the Brazilian multinational WEG in 2002 as an intern. He graduated in electrical engineering from Unesp, with an MBA in business management from FGV and a specialization in corporate finance from Fundação Dom Cabral, Kuba quickly rose through the ranks. In 2010, he was sent to China to manage WEG’s factory operations in the country, where he remained for a decade, consolidating the company’s presence in the Asian market.
Compensation, Governance, and Billionaire Heirs of WEG
On April 23, the general assembly of shareholders of the Brazilian multinational WEG approved the compensation 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 management. The company’s compensation is composed of a fixed part and a variable part, adjusted according to the responsibilities and performance of each executive.
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WEG is famous for being a “billionaire factory,” with 29 heirs 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 emphasized the continuation of the focus on growth and innovation. “We will remain focused on growth and attentive to the 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,” Kuba stated. He also highlighted the importance of keeping the company agile and innovative while preserving its culture and values.
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