Pão de Açúcar chairman to take family members off company board

SAO PAULO Mon Feb 4, 2013 6:49am EST

SAO PAULO Feb 4 (Reuters) - Grupo Pão de Açúcar SA Chairman Abílio Diniz on Monday tapped Claudio Galeazzi and Luiz Fernando Figueiredo to replace his wife and son on the Brazilian retailer's board.

Galeazzi was previously chief executive officer of Pão de Açúcar and other major retailers and is currently a senior partner at investment bank BTG Pactual Group. Figueiredo was a founding partner of investment firm Gávea Investimentos and a central bank director between 2000 and 2002.

Both appointments are pending shareholder approval.

Last year Diniz handed over control of the retail company that his father founded to French group Casino SA. Local media has reported he could soon take over as chairman of poultry producer BRF Brasil Foods SA.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.