dLocal announces appointment of Independent Board Member

Rhea-AI Summary

dLocal (NASDAQ:DLO), a technology-first payments platform, has announced the appointment of Will Pruett as an Independent Board Member and Audit Committee member, effective July 1, 2025. Pruett brings extensive experience from his 16-year tenure at Fidelity Investments, where he managed multiple emerging markets funds, and his previous role at HSBC.

The appointment aims to strengthen dLocal's board expertise in capital markets and emerging markets. Pruett currently serves as an independent board member at PicPay and holds degrees from Harvard Business School and the University of Chicago. The company also announced that Mariam Toulan will conclude her term as Independent Director on June 30, 2025.

Positive

• Appointment of experienced board member with extensive emerging markets expertise
• Addition of member to Audit Committee enhancing governance oversight
• New director brings significant capital markets experience from Fidelity Investments

Negative

• None.

News Market Reaction

+8.77%

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+8.77% News Effect

On the day this news was published, DLO gained 8.77%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MONTEVIDEO, Uruguay, June 23, 2025 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology-first payments platform, today announced the appointment of Will Pruett as an Independent Board Member and well as a member of our Audit Committee, effective July 1, 2025. With his extensive expertise in capital markets and emerging markets, Mr. Pruett will play a key role in strengthening the Board’s ability to guide dLocal’s growth and scalability.

“We are thrilled to welcome Will Pruett to our Board of Directors,” said Eduardo Azar, Chairman of dLocal. “His deep knowledge of capital market dynamics and investment strategies, combined with his extensive experience across Latin America, Asia, and Africa, will be invaluable as we continue to expand our business and deliver value to our stakeholders.”

Mr. Pruett serves as an independent board member of PicPay, one of the largest Brazilian digital banks. Previously, Mr. Pruett served at Fidelity Investments for 16 years (from 2008 to 2025), where he was a portfolio manager for the Fidelity Latin America Fund (FLATX), Fidelity Emerging Markets Opportunities Fund (FEMSX) and Fidelity Total Emerging Markets Fund (FTEMX). Prior to Fidelity, Mr. Pruett worked at HSBC, where he held roles in retail credit and e-commerce across Asia, Europe and Latin America. Mr. Pruett holds a master’s degree in Business Administration from the Harvard Business School and a degree in Economics from the University of Chicago.

“His expertise and perspectives will undoubtedly add depth to board discussions and help drive long-term shareholder value. We warmly welcome Mr. Pruett and look forward to his meaningful contributions as we continue to unlock the power of emerging markets for our merchants,” added Eduardo Azar.

This appointment underscores dLocal’s dedication to effective governance and leveraging a diversity of viewpoints to drive growth strategies.

Additionally, dLocal announces that Mariam Toulan's term as Independent Director on the Board of Directors will conclude on June 30, 2025. Ms. Toulan has been a valued member of the Board, and the company expresses its gratitude for her contributions, dedication, and wisdom during her tenure. We wish her all the best in her future endeavors.

About dLocal
dLocal powers local payments in emerging markets, connecting global enterprise merchants with billions of emerging market consumers in more than 40 countries across Africa, Asia, and Latin America. Through the “One dLocal” platform (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.

Investor Relations Contact:
investor@dlocal.com

Media Contact:
media@dlocal.com

FAQ

Who is Will Pruett and when will he join dLocal's (DLO) board?

Will Pruett, former Fidelity Investments portfolio manager, will join dLocal's board as an Independent Board Member effective July 1, 2025. He brings 16 years of experience managing emerging markets funds.

What is Will Pruett's background before joining dLocal's board?

Pruett served at Fidelity Investments for 16 years managing Latin America and Emerging Markets funds, worked at HSBC in retail credit and e-commerce, and holds degrees from Harvard Business School and University of Chicago.

Who is leaving dLocal's board of directors?

Mariam Toulan will conclude her term as Independent Director on June 30, 2025.

What committees will Will Pruett serve on at dLocal (DLO)?

Will Pruett will serve as an Independent Board Member and as a member of dLocal's Audit Committee.