Grupo Pao de Acucar, Brazil’s largest retailer, has named executive vice president Eneas Pestana as chief operating officer.
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The company said that the appointment was part of the plan that will see Pestana succeed president Claudio Galeazzi next December.
Grupo Pao de Acucar has over 1,200 stores in Brazil with stores in all 18 states and the country’s federal district. It is jointly controlled by French retailer Groupe Casino and the Diniz family.
Earlier this month, the retailer announced a venture to sell food and non-food products with Casa Bahia Comercial, the country’s largest retailer of durable goods.
Under the agreement, the current shareholders of Casas Bahia will contribute their retail business to Grupo Pao de Acucar unit Ponto Frio, in which they will hold a 49% stake.
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By GlobalDataGrupo Pao de Acucar will continue to hold a majority ownership in Ponto Frio.
