BRAZIL: CBD chief executive to step down
Brazil's biggest retailer CBD has announced that Abilio dos Santos Diniz is to step down from his position as chief executive to become chairman of the board, as part of a management reshuffle. Companhia Brasileira de Distribucao (CBD), which operates the Pao de Acucar supermarket chain, said Augusto Marques da Cruz Filho would replace Diniz as executive president from March next year.
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