UPDATE 2-Brazil's GPA shakes up management, appoints tech-savvy new leaders [Reuters]
Companhia Brasileira de Distribuicao American Depsitary Shares; each representing one Common Share (CBD)
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Source: Reuters
UPDATE 2-Brazil's GPA shakes up management, appoints tech-savvy new leaders | Reuters Reuters Staff 3 Min Read (Adds details through on history of new GPA, Via Varejo appointees) By Gram Slattery and Tatiana Bautzer SAO PAULO, Feb 19 (Reuters) - GPA SA, one of Brazil’s largest food retailers, announced on Monday evening a shake-up of its management team, replacing its CEO and the head of a subsidiary just moments before releasing full-year results. In a statement, GPA announced Peter Paul Estermann as its new chief executive officer effective in April, replacing Ronaldo Iabrudi who had served in the post since 2014 and will now become vice chairman of the company’s board. In a related move, Flavio Dias will become the CEO of appliance and electronics subsidiary Via Varejo SA, replacing Estermann, who had been serving in that post. Under Estermann’s leadership, Via Varejo has adapted a tech-savvy, infrastructure-light retail model that has significantly boosted margins and profits. GPA
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