403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Mercado Libre Founder Marcos Galperin Steps Down After 26 Years, Names Successor
(MENAFN- The Rio Times) Marcos Galperin, founder and CEO of Latin America's most valuable company Mercado Libre, announced he will step down from his leadership role after 26 years.
The e-commerce giant revealed that Ariel Szarfsztejn, current President of Commerce, will take over as CEO on January 1, 2026. Galperin will transition to Executive Chairman.
In this role, he will focus on strategy, product evolution, culture, capital allocation, and artificial intelligence implementation. The carefully planned succession aims to ensure continuity while positioning the company for its next growth phase.
"After 26 years leading the company as CEO, I have decided to transition to a new role as Executive Chairman," Galperin stated on his social media account.
He explained that the decision had been contemplated for years: "When I turned 30, I thought I would take this step at 40. When I reached 40, I thought it would be at 45. When I turned 50, I thought it was better not to make more forecasts!"
Szarfsztejn joined Mercado Libre in 2017 and quickly rose through the ranks. The 43-year-old economist graduated cum laude from the University of Buenos Aires with postgraduate studies at Stanford.
His career includes positions at Citibank, Boston Consulting Group, Goldman Sachs, and Despegar before joining Mercado Libre. The leadership change comes during a period of remarkable growth for the company.
Mercado Libre recently reported impressive Q1 2025 results with net revenue of $5.9 billion, a 37% year-over-year increase. Net income reached $494 million, up 44% from the previous year.
The company's commerce business continues to strengthen with brand preference reaching all-time highs in key markets. Gross Merchandise Value rose to $13.3 billion, with unique buyers increasing 25% year-over-year to almost 67 million.
Argentina showed exceptional performance with FX-neutral GMV surging 126%. Mercado Libre's fintech arm, Mercado Pago, also demonstrated strong growth. Monthly active users reached 64 million, a 31% increase from the previous year.
The credit portfolio expanded 75% to $7.8 billion. Galperin co-founded Mercado Libre in 1999 while attending Stanford University. He transformed the company from a garage startup in Buenos Aires into Latin America's most valuable company with operations across 18 countries.
Forbes estimates his personal fortune at over $10 billion. The transition addresses a critical challenge many tech companies face when founder-CEOs depart.
Galperin emphasized the importance of planning this transition: "Mercado Libre must transcend my generation and me as founder. This is the right time to plan its next chapter."
The e-commerce giant revealed that Ariel Szarfsztejn, current President of Commerce, will take over as CEO on January 1, 2026. Galperin will transition to Executive Chairman.
In this role, he will focus on strategy, product evolution, culture, capital allocation, and artificial intelligence implementation. The carefully planned succession aims to ensure continuity while positioning the company for its next growth phase.
"After 26 years leading the company as CEO, I have decided to transition to a new role as Executive Chairman," Galperin stated on his social media account.
He explained that the decision had been contemplated for years: "When I turned 30, I thought I would take this step at 40. When I reached 40, I thought it would be at 45. When I turned 50, I thought it was better not to make more forecasts!"
Szarfsztejn joined Mercado Libre in 2017 and quickly rose through the ranks. The 43-year-old economist graduated cum laude from the University of Buenos Aires with postgraduate studies at Stanford.
His career includes positions at Citibank, Boston Consulting Group, Goldman Sachs, and Despegar before joining Mercado Libre. The leadership change comes during a period of remarkable growth for the company.
Mercado Libre recently reported impressive Q1 2025 results with net revenue of $5.9 billion, a 37% year-over-year increase. Net income reached $494 million, up 44% from the previous year.
The company's commerce business continues to strengthen with brand preference reaching all-time highs in key markets. Gross Merchandise Value rose to $13.3 billion, with unique buyers increasing 25% year-over-year to almost 67 million.
Argentina showed exceptional performance with FX-neutral GMV surging 126%. Mercado Libre's fintech arm, Mercado Pago, also demonstrated strong growth. Monthly active users reached 64 million, a 31% increase from the previous year.
The credit portfolio expanded 75% to $7.8 billion. Galperin co-founded Mercado Libre in 1999 while attending Stanford University. He transformed the company from a garage startup in Buenos Aires into Latin America's most valuable company with operations across 18 countries.
Forbes estimates his personal fortune at over $10 billion. The transition addresses a critical challenge many tech companies face when founder-CEOs depart.
Galperin emphasized the importance of planning this transition: "Mercado Libre must transcend my generation and me as founder. This is the right time to plan its next chapter."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment