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BUZZ-Shares of Nubank parent slip as Youssef Lahrech steps down as president, COO

Reuters
05-21
BUZZ-Shares of Nubank parent slip as Youssef Lahrech steps down as president, COO

** Shares of Nu Holdings NU.N fall 2% to $13.39 premarket

** The listed-entity, which runs Brazilian digital lender Nubank, said that Youssef Lahrech stepped down as president and chief operating officer

** Lahrech's functions will be absorbed by CEO David Velez, while Lahrech will counsel the audit and risk committee of Nu Holdings' board of directors and advise the company in strategic credit-related initiatives, co says in filing

** Filing last week showed Warren Buffett's Berkshire Hathaway had dissolved a stake in NU as of March 31

** NU reported a 37% increase in its quarterly adjusted net profit from a year earlier, slightly missing analysts' estimates on May 13

** NU stock up 23.3% so far this year versus S&P 500 banks' index .SPXBK

(Reporting by Medha Singh)

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