Brazilian retailer GPA's Marcelo Pimentel out as CEO

About this update from Companhia Brasileira De Distribuicao

Brazilian food retailer GPA BMFBOVESPA:PCAR3 announced on Wednesday that Chief Executive Marcelo Pimentel had resigned from his role, adding that Chief Financial Officer Rafael Russowsky was elected by the board to serve as interim CEO.In a securities filing, the company also said Pimentel had resigned from his board seat. Russowsky now fills the roles of CEO, CFO and Investor Relations Officer. Earlier this month, GPA's shareholders had removed its previous board of directors, replacing it with a new nine-member group. The extraordinary meeting had happened at the request of the Coelho Diniz family, which increased its stake in the company to 24.6% in August. Andre Coelho Diniz was elected as chairman this month. Pimentel had been CEO since 2022, when he began executing a restructuring plan focused on the supermarket brand Pao de Acucar and online sales.

View stock analysis, news, and events for Companhia Brasileira De Distribuicao