Board of Directors and Board of Executive Officers

Board of Directors

According to our by-laws, our board of directors consists of at least 3 (three) and up to 12 (twelve) members. The directors meet ordinarily six times a year, and extraordinarily whenever required. The members of our board of directors are appointed at general shareholders’ meetings for a term of office of two years and are required to be our shareholders.

The board’s responsibilities include leading the corporate governance process, electing our executive officers and supervising our management. Currently our board of directors consists of 9 members elected by our shareholders.

We are managed by our board of directors (Conselho de Administração) and by our board of executive officers (Diretoria). None of our directors is party to an employment agreement providing for benefits upon termination of employment.

Members of the Board of Directors Title Date of Election End of Term of Office
Jean-Charles Naouri President 04.27.2016 April 2020
Arnaud Daniel Charles Walter Joachim Strasser Co Vice-president 04.27.2016 April 2020
Ronaldo Iabrudi dos Santos Pereira Co Vice-president 04.27.2016 April 2020
Carlos Mario Giraldo Moreno Member 04.27.2016 April 2020
Eleazar de Carvalho Filho Independent Member 04.27.2016 April 2020
José Gabriel Loaiza Herrera Member 04.27.2016 April 2020
Luiz Augusto de Castro Neves Independent Member 04.27.2016 April 2020
Luis Nelson Guedes de Carvalho Independent Member 06.30.2017 April 2020
Manfred Heinrich Gartz Member 04.27.2017 April 2020

Summary of the career and educational background of Board of Directors

Jean-Charles Naouri

He is a member of our Board of Directors since 2005. He is chairman and chief executive officer of the Casino Group, the chief executive officer of its parent company, Euris S.A.S., and chairman of the board of directors of Cnova. He also holds the following positions: chairman of the board of directors of Rallye S.A., member of the board of directors of F. Marc de Lacharrière FIMALAC S.A., vice-president of the Casino Group Corporate Foundation and president of the Euris Foundation. In June 2013, he was appointed by France’s Ministry of Foreign Affairs to serve as special representative for economic relations with Brazil. In the past five years, he served as chairman and chief executive officer (until 2013) and member of the supervisory board (until 2013) of Monoprix S.A., chief executive officer of Rallye S.A. (until 2013), chief executive officer of Finatis S.A. (until 2010), and member of the board of directors and audit committee of Natixis S.A. (until 2010). From 1982 to 1986, he served as chief of staf

Arnaud Daniel Charles Walter Joachim Strasser

He is vice-chairman of our board of directors since 2012 and a member of our board of directors since 2010. He also has been a member of the board of directors of Cnova since 2014, of Éxito since 2010 and of Via Varejo since 2012 (where he has served as vice-chairman since 2013). Until 2014, he also served as a member of the board of directors of Big C Supercenter plc. He joined the Casino Group since 2007, where he currently serves as corporate development and equity interests officer. Until 2009, he was advisor to the chief executive officer on international development at the Casino Group. He also served on the cabinet of the Prime Minister of France in 2005, as mission head, and in the cabinet of Renaud Dutreil, France‘s Minister of Business and Commerce from 2005 to 2007 as a special advisor. He holds a bachelor’s degree from École Nationale d’Administration and master’s degrees from Hautes Études Commerciales and Institut d’Études Politiques de Paris.

Ronaldo Iabrudi dos Santos Pereira

Ronaldo Iabrudi was elected, on 27th April 2018, Co-Vice-President of the Board of Directors of GPA. He has been member of the Board since 2016. The executive is also Chairman of the Board of Directors of Via Varejo, Vice Chairman of the Board of Directors of CNova N.V, headquartered in Amsterdam, The Netherlands. From January 2014 to April 2018, Ronaldo was Chief Executive Officer of GPA. Previously, he was Chairman of the Boards of Directors of Lupatech, Contax and Telemar, and member of the board of directors of Estácio, Magnesita, Cemar, Oi/Telemar, RM Engenharia and Ispamar. He was also CEO of Magnesita from 2007 to 2011 and from 1999 to 2006 he worked for Grupo Telemar, where he took several posts, including CEO of Telemar/Oi and Contax. From 1997 to 1999, Ronaldo Iabrudi was CEO of FCA (Ferrovia Centro-Atlântica) and from 1984 to 1997, as Chief Financial and Administrative Officer and Chief Human Resources Officer at Grupo Gerdau. Graduated in Psychology from PUC-MG (1979), with Master’s Degree in Organizational Development from Université Panthéon Sorbonne and Master’s Degree in Change Management from Université Paris Dauphine, Paris - France.

Carlos Mario Giraldo Moreno

Mr. Carlos Mario Giraldo Moreno has been a member of our board of directors since 2015. He is also the chief executive officer of Éxito and a member of Casino’s executive committee. Mr Giraldo joined Grupo Exito in 2007 as Chief Operational Officer and has been Grupo Exito‘s Chief Executive Officer since March 2013; Currently Member of the Casino’s Executive Committee. Prior to joining Éxito, Mr. Giraldo was the President of Industrias Alimenticias Noel S.A., from 1997 to 2005 (Main Cookies + Processed meat player) and President of Compañía de Galletas Noel S.A. & Executive Vicepresident Grupo Nutresa from 2005 to 2007 (Main Colombian Food Player). Mr. Giraldo has a lawyer degree from the Universidad de Medellín and Master in Law from Tulane University. He has also participated in the Management Programs in Kellogs & Stanford University and the Strategic Planning Management in Retailing at Babson College. He is member of the following boards: The Consumer Goods Forum; The Coca-Cola Retailing Research Council for Latin America (Chairman 2013/2014); Copa Airlines and Interconección Electríca S.A. ISA in Colombia. In 2003, he was appointed Chairman of the board of the National Association of Business ANDI, main private sector Association in Colombia.

Eleazar de Carvalho Filho

He is an independent member of our board of directors since 2012 and a member of board of directors of Cnova since October 2014. He is a founding partner at Virtus BR Partners, an independent advisory firm, and at Sinfonia Capital, and currently serves on the board of directors of FMC Technologies, Inc. and of Brookfield Renewable Energy Partners. Previously, he served as chief executive officer of Unibanco Banco de Investimentos and president of the Brazilian Development Bank (BNDES) and managing director of Banco UBS - Brasil. He served as the chairman of the board of directors of BHP Billiton Brazil and as a member of the boards of directors of Petrobras, Centrais Elétricas Brasileiras, Vale, Tele Norte Leste Participações, Alpargatas, and others. He also is president of the board of trustees of the Brazilian Symphony Orchestra Foundation. He holds a bachelor’s degree in economics from New York University and a master’s degree in international relations from Johns Hopkins University.

Jose Gabriel Loaiza Herrera

Mr. Jose Gabriel Loaiza Herrera has been a member of our board of directors since 2015. He is also International Business Vice-President of the Éxito Group, where he has also been Sales and Procurement Vice-President since 2011. Previously, he occupied the positions of Entertainment Officer, Consumer Electronics and Home Appliance Officer (2010-2011), Financial Planning Consultant (2008-2010) and Investor Relations Officer (2006-2008). He has a degree in Business Administration from the National University of Colombia and an MBA from Texas A&M University.

Luiz Augusto de Castro Neves

Mr. Luiz Augusto de Castro Neves has been an independent member of our board of directors since 2012. He is a career diplomat who joined Brazil’s diplomatic service in March 1967. He served as the Brazilian ambassador to Japan, Mongolia, the Democratic People’s Republic of Korea (2008-2010), China (2004-2008) and Paraguay (2000-2004). Mr. Castro Neves was also Deputy Secretary-General of Foreign Affairs, chairman of the board of directors of Itaipu Binacional, interim Minister of State and Head of the Secretariat of Strategic Affairs of the Presidency of Brazil. Mr. Castro Neves is a founding partner of CN Estudo e Projetos Ltda., Vice-President Emeritus of the Brazilian Center of Foreign Affairs, a member of the technical board of the National Trade Confederation and Chairman of the China-Brazil Business Council. Mr. Castro Neves graduated in Economics from the Federal University of Rio de Janeiro and Diplomacy from Instituto Rio Branco and holds a master’s degree in Economics from the University of London.

Luis Nelson Guedes de Carvalho

Luis Nelson Guedes de Carvalho holds a doctorate in Accounting & Controllership from the School of Economics, Business Administration and Accounting (FEA) at the University of São Paulo (USP), where he is as a professor. He is a specialist in Litigation involving Corporate Accounting, International Accounting, Risk Management and Audits. He is a member of the board of directors and audit committee of various publicly held corporations. He also is a member of the Accounting Pronouncement Committee (CPC). He was honored by the Regional Accounting Board of São Paulo (CRCSP) with the Hilário Franco Medal and by Fundação Escola de Comércio Álvares Penteado (FECAP) with the title of "Doctor Honoris Causa." Previously he served as Chairman of the Advisory Board of the International Accounting Standards Board (IASB) (2005-2008), as Independent Auditor (1965-1990) and as Executive Director of the Securities and Exchange Commission of Brazil (CVM) (1990-1991) and of the Central Bank of Brazil (1991-1993).

Manfred Heinrich Gartz

Manfred is an executive with a wealth of experience in the financial sector; he began his professional career at Grupo Bancolombia 12 years ago, where he had the opportunity to undertake a wide range of responsibilities in project planning, strategy, and strategic management. Afterwards, he held various positions in the office of the Vice President of Corporate Finance, leading projects for mergers, acquisitions, and structured financing in Latin America. Manfred’s most recent role with this institution was as Vice President of Mergers and Acquisitions and Investment Bank. He is a production engineer with an MBA in finance from EAFIT University in Medellin, as well as an MS in finance from Boston College.

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Board of Executive Officers

Comprised of market professionals and has the job of following the directives established by the Board of Directors related to business management.

Members of the Executive Board Title
Peter Paul Lorenço Estermann Chief Executive Officer
Christophe José Hidalgo Chief Financial Officer
Antonio Sergio Salvador dos Santos Executive Vice-President of Human Resources and Management
Daniela Sabbag Investor Relations Director
Belmiro de Figueiredo Gomes Real Estate Business Director

Summary of the career and educational background of Board of Executive Officers

Mr. Peter Estermann is the Chief Executive Officer of the Company since october 2015, and has been vice president of strategic development and infrastructure of GPA since 2014. Previously, he held the following executive positions: vice-president and chief operating officer of TENCO Shopping Centers (2014); executive officer of global operations of Magnesita Refractarios S.A. from 2012 to 2013; chief executive officer at LWB Refractories - Germany, subsidiary of Magnesita Refractarios S.A. for operations in Europe, from 2008 to 2011; executive director of operations at Medial Saúde, one of the largest health insurance companies in Brazil, from 2006 to 2007, during its initial public offering in the Novo Mercado segment of the BM&FBOVESPA, in which actively participated, executive director of organizational development and president for the North and Northeast regions of Telemar Norte Leste S.A. from 2001 to 2005; executive director of operations and vice-president at Satipel Minas Industrial Ltda. from 1999 to 2001; chairman of the board of directors and general director of Tecflor Ind. S.A. from 1997 to 1998; general director of the forestry division of Aracruz Celulose SA from 1996 to 1997; chief operating officer of the Petropar Group from 1989 to 1995; chief operating officer of Destilaria Brasilândia S.A. from 1987 to 1988; and general manager of Agropecuária Mogno S.A. from 1981 to 1986. Mr. Estermann also served as a member of the board of directors of Tecflor Industrial S.A. from 1997 to 1998, Planalto Transportes Ltda. from 2007 to 2008 and Odontosystem Ltda. in 2008; as chairman of the board of directors of Sinterco S.A. from 2008 to 2013; and as member and chairman of the board of directors of Reframec Services S.A. in 2013. Mr. Estermann holds a bachelor’s degree in agricultural engineering from Universidade Federal de Minas Gerais - Lavras and a graduate degree from Harvard Business School.

Mr. Christophe José Hidalgo has been our chief financial officer and corporate services officer since 2012. He joined the Casino Group in 2000, where he has held several positions in finance and controllership, including chief financial officer of Éxito from 2010 to 2012. From 1996 to 2000, Mr. Hidalgo was the chief financial officer of Castorama. Mr. Hidalgo holds a bachelor’s degree in law and a master’s degree in finance and accounting from Université de Bordeaux.

Mr. Antonio Salvador has been our personnel vice-president officer since 2013. Previously, he served as vice-president of human resources for Hewlett-Packard in Brazil from 2010 to 2013, human resources executive director at PricewaterhouseCoopers Brazil from 2007 to 2010, associate partner at IBM Global Business Services from 2003 to 2007, executive director at Promon Tecnologia from 2001 to 2003, senior manager at PricewaterhouseCoopers Brazil from 1997 to 2001 and corporate university manager at Brahma from 1994 to 1997. In 2011 and 2012, Mr. Salvador received the "HR Professional of the Year" award for the technology industry from Voce S.A. Mr. Salvador holds a bachelor’s degree in social communication from Universidade Gama Filho and an executive MBA from Fundação Cândido Mendes. He has also completed programs in business administration at Fundação Getulio Vargas, INSEAD and Harvard Business School.

Mrs. Daniela Sabbag has been the Company’s Investor Relations Officer since 2013 and has been in Grupo Pão de Açúcar for 16 years. Between 2006 and 2010, she worked as Investor Relations Officer. After that, she worked as Strategic Planning, M&A and New Businesses Officer, in addition to working in the Group’s financial team. She previously worked at Deutsche Bank and Grupo Jerônimo Martins. Ms. Daniela Sabbag holds a bachelor’s degree in Business Administration and an MBA, both from the Getúlio Vargas Foundation (FGV). She also holds a graduate degree in Capital Markets from the University of São Paulo.

Mr. Belmiro de Figueiredo Gomes has been our real estate cash and carry officer since 2012. Mr. Gomes joined the Company in 2010, having earlier held the position of commercial director. Previously, he worked in several areas of the Atacadão chain for 22 years. In 2007, he coordinated the sale process of the Atacadão chain to the Carrefour Group, subsequently serving as an executive director responsible for the commercial, logistics, marketing and business strategy areas.