Brazil’s CBD Names New CEO and CFO

Companhia Brasileira de Distribuicao, the major Brazilian retailer, has appointed Eneas Cesar Pestana Neto as CEO, in line with expectations. Jose Antonio Filippo was appointed CFO and the company has removed its COO position. Pestana has been with CBD unit Grupo Pao de Acucar since 2003, while Filippo was previously CFO and IR officer at CPFL Energia. Claudio Galeazzi was appointed by CBD 2 years ago to help prepare a CEO from inside the company. Galeazzi will continue participating in and contributing to management. He will also coordinate all Galeazzi & Associados’ projects with the group, including integration of Globex and Casas Bahia. CBD operates in 18 states in all regions of Brazil and the federal district. CBD had an extremely active 2009, highlighted by the BRL870 June deal to buy Globex, the controller of the Ponto Frio chain, and the December announcement of a merger with retailer Casas Bahia.