Enéas Pestana, the chief executive of CBD, Brazil’s largest retailer, has resigned after three years in charge.
Pestana, who was promoted from his previous role of COO in 2010, has spent over a decade at the retailer, also known by its trading name of Grupo Pao de Acucar, or GPA.
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“This is the right moment for the conclusion of an important cycle at the leadership of GPA. I have completed an important phase in my life after dedicating 11 years to the development of this company,” Pestana said.
CBD said director Ronaldo Iabrudi would replace Pestana. Iabrudi is a former chief executive at Brazilian telecoms group Telemar, railroad operator Ferrovia Centro Atlantica commodities supplier Magnesita. He said it was an “honour” to replace an executive of Pestana’s calibre.
“His internal leadership and capacity are examples to be followed. I am sure that GPA, with all our team, will continue on its path of success, growth, leadership and improvement of the good practices of management and governance,” Iabrudi said.
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