From Yahoo Finance: 2025-05-21 16:53:00

Marcos Galperin, founder of MercadoLibre, will step down as CEO at the end of the year. He will be replaced by current commerce head Ariel Szarfsztejn. Galperin will now serve as executive chairman. Analysts see the transition as natural and do not expect strategic shifts for the company.

Szarfsztejn, a Stanford graduate, joined MercadoLibre in 2017. The company, often compared to Amazon or Alibaba, has a market cap of $131 billion. Markets reacted positively to the news, with shares closing at a record high. Galperin, now a billionaire, plans to stay involved with the company in a strategic role.

Read more: MercadoLibre CEO Galperin, who made firm Latam’s most valuable, steps back after 26 years