CBD is facing fierce competition from likes of Carrefour and Wal-Mart

CBD is facing fierce competition from likes of Carrefour and Wal-Mart

CBD, the Brazilian retailer, has named COO Eneas Pestana as chief executive to replace Claudio Galeazzi.

The company, also known through its trading name of Grupo Pao de Acucar, has appointed José Antônio Filippo as CFO and confirmed that the position of COO will now no longer exist.

The appointment of Pestana is in line with a plan defined by the group, it said yesterday (4 March), and designed to “ensure the continuity of the advances in recent years”.

Galeazzi, a management consultant, was brought in two years ago to restructure and streamline the company.

Abilio Diniz, chairman of the board, said the new structure represents the conclusion of the work begun in 2003. “I am extremely satisfied and convinced that we have completed the task of professionalising Grupo Pão de Açúcar. One of the reasons for hiring Claudio Galeazzi two years ago was to help prepare a CEO who came from inside the company.

“We have successfully fulfilled this commitment and the transition is taking place in an absolutely smooth manner, as planned, and we are certain we have made the best choice. Our team and our company are prepared for growth and fully equipped to do a better job as we move forward,” he said.

With no COO, Pestana as CEO will be now be responsible for four vice-presidencies, the GPA Malls & Properties division, and the administrative and financial area.

Pestana has been with CBD since 2003. He has previous administrative and financial experience with large retailers and companies such as GP Investimentos and Diagnósticos da América.

Filippo has occupied executive positions at GAFISA, Reynolds LATASA and Ingersoll-Rand. His last position was chief financial and investor relations officer at CPFL Energia, to which he was appointed in 2004.