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.

CBD also said that it plans to abolish the roles of vice-president directors but will set up three special committees to increase interaction between the board of directors and the company management.

The company’s founder, Valentim de Santos Diniz, will become an honorary chairman of the board, reported Reuters.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.