MercadoLibre Names New CEO: Szarfsztejn Takes Over as Founder Galperin Steps Down

SAO PAULO -- Latin American e-commerce leader MercadoLibre disclosed on Wednesday that CEO and cofounder Marcos Galperin will step down and be succeeded by current commerce head Ariel Szarfsztejn starting in 2026.

MercadoLibre stated in a securities filing that Galperin will transition "into a more strategic position within the firm, serving as the executive chair of the board."

Twenty-six years ago, Galperin, who has since become a billionaire and one of the area's leading business figures, co-founded MercadoLibre. He transformed it into the largest company in Latin America based on market capitalization.

In 2017, Szarfsztejn became part of MercadoLibre and took on various roles prior to taking up the position of leading their commerce division in 2023.

(Reported by Andre Romani; Edited by Brendan O'Boyle)