News

Material Fact
Change in Executive Board

Rio de Janeiro, July 26, 2012 - In accordance with Article 157, Paragraph 4 of Federal Law 6,404 of December 15, 1976 and CVM Instruction 358/02, CONTAX PARTICIPAÇÕES S.A. ("Contax or Company") hereby announces to its shareholders and the market the change in its Executive Board.

In compliance with the Board of Directors Meeting of July 25, 2012, Mr. Michel Sarkis left the position of Chief Executive Officer of Contax on the same date, thus ending his cycle at the Company. Until further decision, the position will be held on an interim basis by the Chief Financial and Investor Relations Officer, Mr. Marco Norci Schroeder. During his 12 years in the Company‘s Executive Board and as CEO since December 2010, Michel presided over important developments in Contax, contributing significantly to its growth, and will now collaborate during the transition process.

The Company has already started the process for selecting the new CEO and will keep the market informed of any new developments in this regard.

Marco Norci Schroeder
Investor Relations Officer
Contax Participações S.A.

To see the PDF version of the Material Fact, click here.