November 20, 2019
Chile's Cencosud said it has named Matías Videla as its new CEO to replace Andreas Gebhardt, who steps down at the end of the month.
Videla has worked for Cencosud for 22 years, most recently as CFO, the retail company said in a securities filing. He was previously in charge of Cencosud's supermarkets in Argentina, it added.
Shares in Cencosud dropped 4.69% to CLP1,033 ($1.31) after the surprise announcement. Videla will be the fifth CEO in 11 years. Gebhardt had held the top job at Cencosud for
Matías Videla rises from CFO to take the top job at the Chilean retail company