BRAZIL: Retailer CBD sees chief stay on
Brazilian retailer Companhia Brasileira de Distribuicao (CBD) said today (16 April) that CEO Cláudio Galeazzi is to stay on at the business until the end of 2010.
The company, better known through its trading name Grupo Pao de Acucar, said Galeazzi's had accepted the board's invitation to remain at the retailer until the end of next year.
"The company's excellent results and Mr. Galeazzi's alignment with our beliefs and values were determining factors in this decision," the board said.
Last month, the group posted a 41.6% increase in full-year net profit to BRL298.6m (US$137m).
Net sales for the year were up 21% to reach BRL18.03bn on the previous year.
Brazilian retailer Companhia Brasileira de Distribuicao (CBD) is staying coy about its plans to expand through acquisitions despite receiving a BRL600m (US$318.4m) funding boost....
Grupo Pao de Acucar has said its second quarter net profit more than doubled, boosted by increased sales and lower financial costs....
Brazilian grocer Companhia Brasileira de Distribuicao (CBD) recorded an increase in net sales for the first half of the year, boosted by a series of partnerships with suppliers and "aggressive" promot...
Brazilian grocery retailer Companhia Brasileira de Distribuicao (CBD) has acquired the 40% stake in the local wholesaler Assai that it does not already own....
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