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Capital Structure & Ownership
The Shareholder's structure table will be updated on a quarterly basis according to our Earnings Results.
| Shareholder | Class A | Class B | Total Shares | % Total Shares | % Voting Power |
|---|---|---|---|---|---|
| As of 08/13/2026 | |||||
| Bertelsmann SE&Co. KGaA | 27,001,946 | 34,074,134 | 61,076,080 | 65.2% | 83.4% |
| Esteves Family | 5,335,295 | 4,500,000 | 9,835,295 | 10.5% | 11.4% |
| Treasury | 5,314,449 | – | 5,314,449 | 5.7% | 1.2% |
| Officers | 675,394 | – | 675,394 | 0.7% | 0.2% |
| Free Float | 16,821,613 | – | 16,821,613 | 17.9% | 3.8% |
| Total | 55,148,697 | 38,574,134 | 93,722,831 | 100% | 100% |
*The information presented is based on public filings made with the U.S. Securities and Exchange Commission (SEC).
**Treasury shares were considered to calculate the percentage of total shares and voting power.
***Treasury shares as of 07/02/2026
Officers and Directors
Meet the experienced leaders driving Afya’s vision. Our Board of Directors and Executive Officers combine deep expertise in education and healthcare to lead our strategic growth.
| Board of Directors | Office | Bio |
|---|---|---|
| Nicolau Carvalho Esteves | Co-Chairman of the Board |
Nicolau Carvalho Esteves is co-chairman of our board of directors, a position he has held since May 2022 after having held the position of chairman since July 2019. He is a qualified orthopedist and has over 25 years of experience in the education industry. He was the chairman of the board of directors of Afya Brazil from August 2016 to December 2019, when the board of directors of Afya Brazil was extinguished. He is the founding shareholder of the following companies, for which he served as Chief Executive Officer for the periods indicated (i) ITPAC—Instituto Tocantinense Presidente Antônio Carlos S.A. (1999-2016); (ii) ITPAC Porto—Instituto Tocantinense Presidente Antônio Carlos Porto S.A. (2008-2016); (iii) IPTAN—Instituto de Ensino Superior Presidente Tancredo de Almeida Neves S.A. (2003-2016) and (iv) Instituto de Educação Superior do Vale do Parnaíba S.A. (2016-2018). He is also a member of the board of directors of Emive Participações S.A, a position he has held since January 2024. He holds a Medicine degree from Faculdade de Medicina de Barbacena, a master’s degree in business administration from FGV, a master’s degree in Corporate Finance from Fundação Dom Cabral, a master’s degree in business administration from FEAD and a Business Administration degree from AIEC. |
| Kay Krafft | Co-Chairman of the Board |
Kay Krafft is co-chairman of our board of directors, a position he has held since May 2022 after having held the position of director since August 2021. He is the founding CEO of Bertelsmann Education Group. Until 2014, he was Chief Investment Officer of music rights management company BMG, building up the company from a start-up to a major player in the music industry through acquisitions as well as the establishment of an international presence. Before joining BMG’s Executive Board, he served as EVP and global head of M&A at Bertelsmann while implementing major portfolio adjustments during this time. Prior to joining Bertelsmann, Kay Krafft was a partner at professional services firm Deloitte. |
| Benedikt Dalkmann | Director |
Benedikt Dalkmann is a member of our board of directors, a position he has held since May 2022, in addition to being Chief Financial Officer of Bertelsmann Education Group. He has played a formative role in developing the Group since its foundation in 2015, including the expansion of Relias into a major player in U.S. healthcare education through acquisitions, as well as the establishment of an international presence. Before joining the Education Group, Benedikt worked as Director of Strategy & Investments at Bertelsmann Group. Other experiences include a period in Venture Capital at Holtzbrinck, and in management consulting. |
| Christina Krebs | Director |
Christina Krebs is a member of our board of directors, a position she has held since May 2022, in addition to being the Chief People Officer of Bertelsmann Education Group and the Chief People Officer at Relias, a Bertelsmann Education Group company. Since 2020, Christina held multiple roles at Relias including VP, Client Care and VP, Integration, where she helped integrate multiple healthcare technology companies into the Relias portfolio. Before joining Relias, Christina was a partner at the professional services firm, ScottMadden Management Consultants. |
| Renato Tavares Esteves | Director |
Renato Tavares Esteves is a member of our board of directors, a position he has held since July 2019. He was a member of the board of directors of Afya Brazil from August 2016 to December 2019, when the board of directors of Afya Brazil was extinguished. He served as executive officer of the following companies: Instituto de Educação Superior do Vale do Parnaíba S.A., UNIVAÇO—União Educacional do Vale do Aço S.A., IPTAN—Instituto de Ensino Superior Presidente Tancredo de Almeida Neves S.A., ITPAC—Instituto Tocantinense Presidente Antônio Carlos S.A., and Instituto de Ensino Superior do Piauí S.A.—IESP. He is also a member of the board of directors of Emive Participações S.A, a position he has held since January 2024. He holds a degree in medicine from Faculdade de Medicina de Barbacena, and a master’s degree in business administration and Corporate Finance from FGV. |
| Vanessa Claro Lopes | Independent Director |
Vanessa Claro Lopes is a member of our board of directors and an independent member of our audit, risks and ethics committee, positions she has held since July 2019. She currently serves as an independent member of the board of directors and chair of both the audit committee and the related parties committee at Rumo S.A. Additionally, Ms. Lopes is an independent director and chair of the audit committee at Americanas S.A., where she also serves as a member of the nominating committee. Her current governance portfolio includes serving as chair of the audit committee at Tegma Gestão Logística S.A., and as a member of the audit and ethics committee at AXIA Energia (Eletrobras Group). Prior to her current roles, Ms. Lopes served on the audit, risks, and ethics Committee of Embraer S.A. and chaired the fiscal council of Via Varejo S.A. Her extensive background in oversight includes memberships on the fiscal councils of prominent organizations such as Gerdau S.A., Terra Santa Agro S.A., Estácio Participações S.A., Renova Energia S.A., Cosan S.A., Cosan Logística S.A. and Comgás S.A. With over 30 years of experience in corporate governance, internal controls and auditing, Ms. Lopes held key executive positions earlier in her career, including Head of Internal Audit at TAM S.A. and Globex Utilidades S.A. (Grupo Pão de Açúcar), and Audit Manager at Grupo Telefônica. She began her professional trajectory at PricewaterhouseCoopers (PwC) in 1995, where she spearheaded the creation of the revenue assurance department for the Telecommunications sector in Brazil. Ms. Lopes holds an MBA from EAESP/FGV, a master’s degree in management systems from Universidade Federal Fluminense (UFF), and a Postgraduate Diploma in Computer Networks from Universidade São Judas. She also earned degrees in accounting from Universidade Federal Fluminense (UFF) and systems analysis from FATEC/BS. |
| Miguel Filisbino Pereira de Paula | Independent Director |
Miguel Filisbino Pereira de Paula is a member of our board of directors and an independent member of our audit, risks and ethics committee and People & ESG Committee, which positions he has held since August 2020. He has over 30 years’ experience in C-level positions and serving on the advisory boards and boards of directors of large companies, such as Gerdau S.A., Votorantim Cimentos S.A., Yduqs S.A. and Companhia Brasileira de Distribuição GPA. Miguel is an expert in the education industry, where he was Vice President of People, Management, and Services for nine years at the education company Estácio Participações S.A. and he also serves as an operating partner of People Management and Governance areas for private equity funds, including portfolio companies of Crescera Capital and EB Capital and was also appointed as independent member of advisory boards and boards of directors of these mentioned companies. Currently, Miguel is a member of the Board of Directors of Gurgel Mix (Loja do Mecânico), Salus Group and Hospital CARE as observer of the Board. During his executive career, he has led major turnaround projects in companies and/or business units of these groups, always focusing on processes, people, new organizational concepts and governance models, and he has been directly and/or indirectly responsible for hiring and developing many executives for management positions in these organizations. He holds a degree in business administration from Universidade Luterana do Brasil, an MBA in retail management from the University of São Paulo and an MBA in human resources management from Pontifícia Universidade Católica do Rio Grande do Sul. He completed several courses in leadership and business management in Brazil, at the Kellogg School of Management: in the United States and at the Union of Japanese Scientists and Engineers (JUSE). |
| Marcelo Ken Suhara | Independent Director |
Marcelo Ken Suhara has a combined 26 years of experience in initial public offering advisory services, financial reporting, accounting and audit. He was a partner in the capital markets center at Ernst & Young in São Paulo from 2011 to March 2022. He also worked in the capital markets group at PricewaterhouseCoopers from 2001 to 2010, and in audit at Arthur Andersen from 1998 to 2000 and Coopers & Lybrand from 1996 to 1998. He has extensive experience in initial public offerings, equity and debt offerings in the Brazilian and international capital markets, and advised companies on financial reporting and regulatory matters on capital markets transactions, and on SEC rules and regulations. He holds a bachelor’s degree in business management from Pontificia Universidade Catolica and a bachelor’s degree in accounting from Universidade Paulista and is a Brazilian Certified Accountant registered at CRC – Conselho Regional de Contabilidade (Brazilian Regional Accounting Council). |
| Executive Officers | Office | Bio |
|---|---|---|
| Virgilio Deloy Capobianco Gibbon | Chief Executive Officer |
Virgilio Deloy Capobianco Gibbon. Virgilio Deloy Capobianco Gibbon serves as the Chief Executive Officer of Afya, a position he has held since 2016. Under his leadership, Afya successfully executed its Initial Public Offering on the Nasdaq in 2019. Since the IPO, the company has experienced significant growth, expanding its operations and solidifying its position as a leader in medical education in Brazil. In recognition of his contributions to sustainable development, Virgilio was honored by the United Nations as an Impact Leader for the Sustainable Development Goals (SDGs). Furthermore, in 2023, he was named the Best Executive in the Education Sector in Brazil by Valor 1000. Prior to his tenure at Afya, Virgilio held several key positions:
Virgilio holds a degree in Economics from Pontifícia Universidade Católica do Rio de Janeiro (PUC-RJ) and has completed executive management programs at Fundação Getulio Vargas (FGV), Stanford University, and Harvard University. |
| Lélio de Souza | Vice President of Innovation & Digital Services |
Lélio de Souza Junior is our Vice President of Innovation & Digital Services, a position he has held since January 2022. Prior to joining us, he served as CEO for Intelie for 5 years, where he had the chance to support the internationalization of the company, the acquisition process by RigNet (later on acquired by Viasat, NASDAQ: VSAT) and to experience a very well succeeded growth history. Prior to that, Lelio served as a Corporate Officer at TOTVS from 2008 – 2016 and also as Senior Manager in Accenture from 2000-2008. Lelio holds a bachelor’s degree in Mechanical Engineering from the Federal University of Minas Gerais (UFMG) and executive programs degrees from University of Wharton, Pennsylvania, USA and Insper, São Paulo, Brazil. |
| Luis André Blanco | Chief Financial Officer |
Luis André Blanco is our Chief Financial Officer, a position he has held since April 2020. Prior to joining us, he served as CFO for OdontoPrev for 10 years, where he oversaw corporate finance – treasury, financial planning, M&A, tax and accounting operations, legal and compliance. Prior to that, Luis served as a Financial Officer at Vivo S.A. from 2003 to 2009 and also as CFO at Tele Centro – Oeste Celular Participações from 2000 to 2003. Luis holds a bachelor’s degree in engineering from the Federal University of Rio de Janeiro and an executive program degree from University of Westminster, London, England.
|
| Senior Management | Office | Bio |
|---|---|---|
| Anibal Sousa | Legal and Compliance VP | |
| Denis Del Bianco | Continuing Education VP | |
| Érico Ribeiro | Undergrad VP | |
| Mirella Gomiero | People & Management, Services and IT VP | |
| Gustavo Meirelles | Chief Medical Officer |
Committee Composition
Our governance structure includes oversight by the Board and its committees, ensuring transparency, accountability, and responsible management.
| Senior Management | Audit & Risk Committee | ESG & People Committee |
|---|---|---|
| Miguel Filisbino Pereira de Paula |
Miguel Filisbino Pereira de Paula is a member of our board of directors and an independent member of our audit, risks and ethics committee and People & ESG Committee, which positions he has held since August 2020. He has over 30 years’ experience in C-level positions and serving on the advisory boards and boards of directors of large companies, such as Gerdau S.A., Votorantim Cimentos S.A., Yduqs S.A. and Companhia Brasileira de Distribuição GPA. Miguel is an expert in the education industry, where he was Vice President of People, Management, and Services for nine years at the education company Estácio Participações S.A. and he also serves as an operating partner of People Management and Governance areas for private equity funds, including portfolio companies of Crescera Capital and EB Capital and was also appointed as independent member of advisory boards and boards of directors of these mentioned companies. Currently, Miguel is a member of the Board of Directors of Gurgel Mix (Loja do Mecânico), Salus Group and Hospital CARE as observer of the Board. During his executive career, he has led major turnaround projects in companies and/or business units of these groups, always focusing on processes, people, new organizational concepts and governance models, and he has been directly and/or indirectly responsible for hiring and developing many executives for management positions in these organizations. He holds a degree in business administration from Universidade Luterana do Brasil, an MBA in retail management from the University of São Paulo and an MBA in human resources management from Pontifícia Universidade Católica do Rio Grande do Sul. He completed several courses in leadership and business management in Brazil, at the Kellogg School of Management: in the United States and at the Union of Japanese Scientists and Engineers (JUSE). |
Miguel Filisbino Pereira de Paula is a member of our board of directors and an independent member of our audit, risks and ethics committee and People & ESG Committee, which positions he has held since August 2020. He has over 30 years’ experience in C-level positions and serving on the advisory boards and boards of directors of large companies, such as Gerdau S.A., Votorantim Cimentos S.A., Yduqs S.A. and Companhia Brasileira de Distribuição GPA. Miguel is an expert in the education industry, where he was Vice President of People, Management, and Services for nine years at the education company Estácio Participações S.A. and he also serves as an operating partner of People Management and Governance areas for private equity funds, including portfolio companies of Crescera Capital and EB Capital and was also appointed as independent member of advisory boards and boards of directors of these mentioned companies. Currently, Miguel is a member of the Board of Directors of Gurgel Mix (Loja do Mecânico), Salus Group and Hospital CARE as observer of the Board. During his executive career, he has led major turnaround projects in companies and/or business units of these groups, always focusing on processes, people, new organizational concepts and governance models, and he has been directly and/or indirectly responsible for hiring and developing many executives for management positions in these organizations. He holds a degree in business administration from Universidade Luterana do Brasil, an MBA in retail management from the University of São Paulo and an MBA in human resources management from Pontifícia Universidade Católica do Rio Grande do Sul. He completed several courses in leadership and business management in Brazil, at the Kellogg School of Management: in the United States and at the Union of Japanese Scientists and Engineers (JUSE). |
| Vanessa Claro Lopes |
Vanessa Claro Lopes is a member of our board of directors and an independent member of our audit, risks and ethics committee, positions she has held since July 2019. She currently serves as an independent member of the board of directors and chair of both the audit committee and the related parties committee at Rumo S.A. Additionally, Ms. Lopes is an independent director and chair of the audit committee at Americanas S.A., where she also serves as a member of the nominating committee. Her current governance portfolio includes serving as chair of the audit committee at Tegma Gestão Logística S.A., and as a member of the audit and ethics committee at AXIA Energia (Eletrobras Group). Prior to her current roles, Ms. Lopes served on the audit, risks, and ethics Committee of Embraer S.A. and chaired the fiscal council of Via Varejo S.A. Her extensive background in oversight includes memberships on the fiscal councils of prominent organizations such as Gerdau S.A., Terra Santa Agro S.A., Estácio Participações S.A., Renova Energia S.A., Cosan S.A., Cosan Logística S.A. and Comgás S.A. With over 30 years of experience in corporate governance, internal controls and auditing, Ms. Lopes held key executive positions earlier in her career, including Head of Internal Audit at TAM S.A. and Globex Utilidades S.A. (Grupo Pão de Açúcar), and Audit Manager at Grupo Telefônica. She began her professional trajectory at PricewaterhouseCoopers (PwC) in 1995, where she spearheaded the creation of the revenue assurance department for the Telecommunications sector in Brazil. Ms. Lopes holds an MBA from EAESP/FGV, a master’s degree in management systems from Universidade Federal Fluminense (UFF), and a Postgraduate Diploma in Computer Networks from Universidade São Judas. She also earned degrees in accounting from Universidade Federal Fluminense (UFF) and systems analysis from FATEC/BS. |
|
| Marcelo Ken Suhara |
Marcelo Ken Suhara has a combined 26 years of experience in initial public offering advisory services, financial reporting, accounting and audit. He was a partner in the capital markets center at Ernst & Young in São Paulo from 2011 to March 2022. He also worked in the capital markets group at PricewaterhouseCoopers from 2001 to 2010, and in audit at Arthur Andersen from 1998 to 2000 and Coopers & Lybrand from 1996 to 1998. He has extensive experience in initial public offerings, equity and debt offerings in the Brazilian and international capital markets, and advised companies on financial reporting and regulatory matters on capital markets transactions, and on SEC rules and regulations. He holds a bachelor’s degree in business management from Pontificia Universidade Catolica and a bachelor’s degree in accounting from Universidade Paulista and is a Brazilian Certified Accountant registered at CRC – Conselho Regional de Contabilidade (Brazilian Regional Accounting Council). |
|
| Rafael Munerato de Almeida |
Rafael Munerato de Almeida was a member of the board of directors of Medcel Editora e Eventos S.A. from February 2016 to March 2019. He provides medical services for D’Or Consultoria em Corretagem de Seguros e Benefícios Ltda., Funcional Health Tech Soluções em Saúde Ltda., Associação Beneficiente Bom Samaritano, Hospital Bom Samaritano de Maringá S.A., IBES—Instituto Brasileiro para Excelência em Saúde and Trigger Participação e Administração S.A. He also provides medical services through his private medical practice, is a director at IBES—Instituto Brasileiro para Excelência em Saúde, and a consultant at Multivida Participações S.A., Grupo Kronberg, Switzerland Global Enterprise and CBEXs—Colégio Brasileiro de Executivos da Saúde. He holds a degree in medicine from Santa Casa de Misericórdia de SP, a residency in clinical medicine from Santa Casa de Misericórdia de SP, a residency in cardiology from InCor FMUSP, a specialization in cardiac arrhythmia from InCor FMUSP and an MBA in health management from FGV. |
|
| Renato Tavares Esteves |
Renato Tavares Esteves is a member of our board of directors, a position he has held since July 2019. He was a member of the board of directors of Afya Brazil from August 2016 to December 2019, when the board of directors of Afya Brazil was extinguished. He served as executive officer of the following companies: Instituto de Educação Superior do Vale do Parnaíba S.A., UNIVAÇO—União Educacional do Vale do Aço S.A., IPTAN—Instituto de Ensino Superior Presidente Tancredo de Almeida Neves S.A., ITPAC—Instituto Tocantinense Presidente Antônio Carlos S.A., and Instituto de Ensino Superior do Piauí S.A.—IESP. He is also a member of the board of directors of Emive Participações S.A, a position he has held since January 2024. He holds a degree in medicine from Faculdade de Medicina de Barbacena, and a master’s degree in business administration and Corporate Finance from FGV. |
|
| Kay Krafft |
Kay Krafft is co-chairman of our board of directors, a position he has held since May 2022 after having held the position of director since August 2021. He is the founding CEO of Bertelsmann Education Group. Until 2014, he was Chief Investment Officer of music rights management company BMG, building up the company from a start-up to a major player in the music industry through acquisitions as well as the establishment of an international presence. Before joining BMG’s Executive Board, he served as EVP and global head of M&A at Bertelsmann while implementing major portfolio adjustments during this time. Prior to joining Bertelsmann, Kay Krafft was a partner at professional services firm Deloitte. |
|
| Christina Krebs |
Christina Krebs is a member of our board of directors, a position she has held since May 2022, in addition to being the Chief People Officer of Bertelsmann Education Group and the Chief People Officer at Relias, a Bertelsmann Education Group company. Since 2020, Christina held multiple roles at Relias including VP, Client Care and VP, Integration, where she helped integrate multiple healthcare technology companies into the Relias portfolio. Before joining Relias, Christina was a partner at the professional services firm, ScottMadden Management Consultants |