Board of Directors

The Board of Directors is the deliberative body responsible for the general guidance of Viavarejo‘s business, including its long-term strategy. The board has other attributions, including the election of the Company’s officers and oversight of the respective management. At all meetings of the Board of Directors, decisions are made by a majority vote of the members present; in the event of a tie vote, the Chairman of the Board of Directors holds an additional deciding vote.

Meetings of the Board of Directors are held at minimum on a quarterly basis, or whenever necessary by means of a call notice sent by the Chairman of the Board of Directors, who may be petitioned to send a call notice by at least three board members or by the Company’s chief executive officer.


The Company‘s Bylaws provides that the Board will be comprised of at least five and no more than seventeen members, all shareholders, elected and dismissed by the Shareholders’ Meeting.

Board Members Title Election Date End of Term
Ronaldo Iabrudi Chairman 08.22.2013 2015 General Ordinary Meeting
Arnaud Daniel Charles Walter Joachim Strasser Vice Chairman 04.12.2013 2015 General Ordinary Meeting
Alberto Ribeiro Guth Board Member 04.12.2013 2015 General Ordinary Meeting
Christophe José Hidalgo Board Member 04.12.2013 2015 General Ordinary Meeting
Líbano Miranda Barroso Board Member 02.12.2014 2015 General Ordinary Meeting
Michael Klein Board Member 04.12.2013 2015 General Ordinary Meeting
Renato Carvalho do Nascimento Board Member 04.12.2013 2015 General Ordinary Meeting
Roberto Fulcherberguer Board Member 04.12.2013 2015 General Ordinary Meeting
Yves Desjacques Board Member 02.12.2014 2015 General Ordinary Meeting

Ronaldo Iabrudi is the Chairman of the Board of Directors and representative of Casino Group in Brazil, as well as Chairman of the Board of Directors of Lupatech, member of the Board of Directors of Estácio Participações, partner of VIAW and AGROBANCO. Previously, he was also member of the Board of Directors of Cemar. From 2007 through 2011, he served as CEO of Magnesita, in charge of all companies composing the Magnesita Group in Brazil, Argentina, Germany, France, USA and China. He led the Telemar Group between 1999 and 2006, serving as CEO, CEO of Telemar Operadora and Managing Director. He was Chairman of the Board of Directors of Telemar Operadora and member of the Board of Directors of other Telemar Group companies. He was also CEO of Ferrovia Centro-Atlântica from 1997 to 1999 and Chairman of the Board of Directors of Porto de Angra, as well as Chief Financial Officer of the latter between March and October 1997. From 1984 through 1997, he served as Executive Officer, Administrative and Financial Officer, responsible for the management of Gerdau Group companies located in the state of Minas Gerais, and General Manager of Gerdau Group’s Human Resources Department. With a Bachelor’s Degree in Psychology from PUC-MG (1979), he obtained the Master’s Degree in Qualification of Adults (1981), Master’s Degree in Administration of Changes (1982) and Doctorate’s Degree in Organizational Change (1984) from Université Paris XIX - Dauphine.

Arnaud Daniel Charles Walter Joachim Strasser has worked with Casino Group since 2007 and is currently Executive Development and Holdings Officer, having previously been responsible for the international development department and acted as the CEO‘s councilor. He has also worked in the Cabinet of the Prime Minister of France, in 2005, as Mission Chief, and in the Cabinet of Renaud Dutreil, French Minister of Business and Commerce, from 2005 to 2007, as a special councilor. He was also a member of the Boards of Directors of Almacenes Exito (Colombia), Big C (Thailand), Super de Boer (Holland), as well as a member of the Casino Group’s (France) executive committee. He is currently a member of the Board of Directors of Wilkes Participações SA, controlling shareholder of Companhia Brasileira de Distribution. He is also Vice-Chairman of the Board of Directors of CBD.

Alberto Ribeiro Guth is a founding partner of Angra Partners Gestão de Recursos e Assessoria Financeira, company founded in 2003 and focused on financial restructuring and debt negotiations, operational restructuring and coordination of merger and acquisitions business processes. Between 1993 and 2003, he was a managing partner of Investidor Profissional Gestão de Recursos. Previously, for 9 years he served at Esso Brazil as an executive in the strategic planning, finance and marketing areas. He has over 28 years of professional experience, having served as a board member at companies such as Metro of Rio de Janeiro, Brasil Telecom, Telemig, Editora e Livraria Saraiva and Elevadores Atlas and member of fiscal council of companies such as Eternit, Freios Varga and Petroflex. Alberto holds a degree in engineering from Instituto Militar de Engenharia - IME and holds an MBA from the Wharton Business School.

Christophe Hidalgo served as the CFO of Êxito Group (Colombia), a subsidiary of Casino Group, from 2010 to 2012. After joining Casino in 2000, Mr. Hidalgo held several positions in financing and controlling at the Group. In Brazil, he also worked as the CFO of Castorama from 1996 to 2000. Mr. Christophe Hidalgo is French and holds a bachelor’s degree in law and a master’s in finance and accounting from the Bordeaux University, France. He is currently CFO of CBD.

Líbano Miranda Barroso became the Chief Executive Officer of Via Varejo in April 2014. He has been a member of the Board of Directors of Via Varejo since February 2014, and also served as the Vice-President of Strategic Development of Pão de Açúcar Group. Previously, he held several executive-level positions, including Chief Executive Officer of TAM Airlines, who structured the LAN-TAM joint venture, creating LATAM Airlines Group. As Vice-President of Finance and Management, he led the corporate restructuring process during the IPO on the Bovespa and NYSE. He also served as the Chief Financial and Investor Relations Officer at CCR - Companhia de Concessões Rodoviárias, and Finance Coordinator at Andrade Gutierrez Concessões. He holds a degree in economics from Universidade Federal de Minas Gerais, with specialization in finance from IBMEC, and completed a graduate program in corporate law at Fundação Getulio Vargas (FGV).

Michael Klein has been a member of our Board of Directors since November 9, 2010. He is a partner and CEO of Casa Bahia Comercial Ltda. Previously, he served as the chairman of our Board of Directors until last February. He joined CB in 1969 as financial manager, and since then he has been acquiring vast experience in the furniture manufacturing and retail sector, leading its strong growth in recent years. He has a degree in Business Administration from Universidade Paes de Barros and specialization from Fundação Getulio Vargas (FGV).

Renato Carvalho do Nascimento is a founding partner of Arion Capital, financial advisory company and investment funds management. He worked at Lehman Brothers in New York in the investment banking area, and as a consultant at Accenture and Monitor. He was a member of the boards of Telemig, Metro of Rio de Janeiro and Tropical, and chairman of the board of Maeda. Renato is currently chairman of the board of TMA in Brazil. Renato was a finance professor at the MBA course of Insper, in São Paulo. He has a degree in mechatronics engineering from the Escola Politécnica, USP, and holds an MBA from the Tuck School of Business at Dartmouth.

Roberto Fulcherberguer was the Company’s Sales Vice Chief Executive Officer until last February 11. He occupied the position of Vice Chief Executive Officer in Casa Bahia Comercial Ltda. for seven years, Procurement Officer in Lojas Arapuã S.A for 11 years and Category Manager in Companhia Brasileira de Distribuição for six years, working in retail through sales, marketing, operations and logistics areas. He has a bachelor’s degree in Business Administration from Universidade Paulista and a Master’s degree in Marketing from Fundação Armando Álvares Penteado - FAAP.

Yves Desjacques has been a member of the Board of Directors of Via Varejo since February 2014. He began his career in June 1992 as Human Resources Officer at Commercial Union Assurances. He then joined Generali Assurances in 1994, where he acted as HR Manager for France Assurances between 1994 and 1997. He acted as Vice President of HR at Generali from 1997 to 2001, and Vice President of HR for Shared Corporate Positions from 1998 to 2001. In 2001, he was elected Vice President of HR and a member of the executive committee of Védior France. In 2007, he was elected Vice President of HR of Grupo Casino and acted as a member of the executive committee. Desjacques is also a member of the Board of Directors and the Appointment and Compensation Committee at the retailer Exito, a subsidiary of Casino in Colombia, and at Mercyalis, a real estate subsidiary of Casino in France. Since 2007, Desjacques has also been working as President at the National Network of Companies in favor of Equal Education Opportunities. He holds a master’s degree in International Human Resources Management from the University of Paris II (1992), where he specialized in labor law, corporate and human resources relations.

Board of Executive Officers

Viavarejo’s Executive Officers are the company’s legal representatives, mainly responsible for the management and implementation of the policies and general guidelines established by Shareholders’ Meetings and by the Board of Directors. In accordance with Brazilian Corporate Law, each Board member of Viavarejo must reside in the country, and may or may not be a shareholder. In addition, up to one third of the Board of Directors’ members may be elected to executive positions.In compliance with Viavarejo’s Bylaws, the Executive Board shall be composed of eight members.

Officers Position Election Date End of Term
Líbano Miranda Barroso Chief Executive Officer and Chief Financial Officer 04.14.2014 11.21.2014
Jorge Fernando Herzog Operations Officer 11.22.2012 11.21.2014
Marcelo Lopes Infrastructure and IT Officer 05.24.2013 11.21.2014
Marcelo Rizzi de Oliveira Investor Relations and Strategic Planning Officer 10.17.2013 11.21.2014
Paulo Adriano Romulo Naliato Human Resources Officer 10.17.2013 11.21.2014
Flavia Altheman Marketing Officer 12.19.2013 11.21.2014
Luiz Henrique Andrade Vendramini Sales Officer 12.19.2013 11.21.2014

Líbano Miranda Barroso became the Chief Executive Officer of Via Varejo in April 2014. He has been a member of the Board of Directors of Via Varejo since February 2014, and also served as the Vice-President of Strategic Development of Pão de Açúcar Group. Previously, he held several executive-level positions, including Chief Executive Officer of TAM Airlines, who structured the LAN-TAM joint venture, creating LATAM Airlines Group. As Vice-President of Finance and Management, he led the corporate restructuring process during the IPO on the Bovespa and NYSE. He also served as the Chief Financial and Investor Relations Officer at CCR - Companhia de Concessões Rodoviárias, and Finance Coordinator at Andrade Gutierrez Concessões. He holds a degree in economics from Universidade Federal de Minas Gerais, with specialization in finance from IBMEC, and completed a graduate program in corporate law at Fundação Getulio Vargas (FGV).

Jorge Fernando Herzog joined our Executive Board in July 2009, having taken on July 7, 2009 as the Vice-President of Operations. Prior to that, he served as the Operating Regional Officer at Companhia Brasileira de Distribuição from January 2008 to July 2009 and the Operations Director at Senda Distribuidora from January 2006 to January 2008, and held several positions at Carrefour in the Operations, Human Resources and Accounting departments from April 1990 to December 2005. Mr. Herzog earned a bachelor’s degree in Economics from Faculdade Dom Bosco.

Marcelo Lopes joined our Executive Board in May, having taken office on May 26, 2013 as the Vice-President of IT and Infrastructure. He held several positions at Grupo Pão de Açúcar from January 2001 to May 2013 in the Logistics, Supply Chain and Operations departments and served at São Paulo Alpargatas from November 1990 to June 1999 in the Industrial and Commercial areas. Mr. Lopes earned a bachelor’s degree in Business Administration from Unicapital, a specialization degree in Supply Chain and Logistics Management from the Coppead Administration Institute from the Federal University of Rio de Janeiro and an MBA in Strategic Business Management from the Getúlio Vargas Foundation (FGV).

Marcelo Rizzi de Oliveira is our Investor Relations and Strategic Planning Officer. He joined the Company last April. Previously, he served as the Strategy Officer (Associate Partner) at Monitor Group from April 2005 to April 2013, Investor Relations analyst CPFL Energia from November 2003 to April 2005 and Strategy Advisor at Accenture Brazil from June 2000 to November 2003. Mr. Oliveira earned a bachelor’s degree in Production Engineering from the Mauá Institute of Technology and a specialization degree in Finance from the Getúlio Vargas Foundation.

Paulo Adriano Romulo Naliato joined the Company last July, having taken office on October 17, 2013 as the Human Resources Officer. Previously, he served as the Human Resources Officer at Santander (Brazil) from August 2008 to July 2013 and at Banco Real ABN Amro from August 2000 to July 2008. He also held the position of Human Resources Manager at Banco Excel Econômico/BBVA from March 1997 to July 2000, as the Human Resources Manager and Incentive Marketing at Banco Unibanco from December 1995 to February 1997 and as Human Resources Analyst and consultant at Banco Nacional from October 1986 to November 1995. Mr. Naliato graduated in Law from Faculdades Metropolitanas Unidas (FMU), having attended a training program in Coaching at the Integrated Coaching Institute. He also holds a specialization degree in People and Business Management from the Getúlio Vargas Foundation and in Global Business Management (CLP) from IESE Business School.

Flavia Altheman took over the position of Marketing and Market Intelligence Officer of Via Varejo in December 2013. She has been the Company’s Marketing Officer since 2006. Previously she acted as General Director at Y&R/São Caetano do Sul Unit, Customer Service Director at F/Nazca - Saatchi & Scatchide and Account Manager at Talent Comunicação. She holds a degree in advertising and marketing and a graduate degree in strategic planning from Fundação Getúlio Vargas (FGV).

Luiz Henrique Andrade Vendramini has served as Sales Officer since December 2013. He joined Via Varejo in 2004 and acted as Sales Officer, being responsible for the white goods and portables areas. He worked in the sales department at Walmart and Grupo Pão de Açúcar (GPA). He holds a degree in business administration and marketing and an MBA in finance from FGV.

Fiscal Council

Pursuant to the Brazilian Corporation Law, the Fiscal Council is a corporate body independent from Management and external auditors. The Fiscal Council may operate on a permanent and non-permanent basis, in this case, it will operate during a specific fiscal year, when instated upon request of shareholders, representing, at least, 2% of the voting shares and each period of its operations will expire at the first Annual Shareholders‘ Meeting after its instatement.

The Fiscal Council‘s main responsibilities consist of overseeing the Management‘s activities, reviewing the Company‘s financial statements and reporting its conclusions to shareholders. The Brazilian Corporation Law requires that members of the Fiscal Council shall receive compensation, of at least, 10% of the average amount annually paid to the Company‘s executive officers. The Brazilian Corporation Law also requires that the Fiscal Council is composed of, at least, three members, and at most, five members and their respective deputies.

Viavarejo‘s Bylaws provide for a permanent Fiscal Council, composed of three sitting members and equal number of alternate members, elected at the Shareholders‘ Meeting.

Audit Council Members Position Election Date End of Term
Vanessa Claro Lopes Chairman 04.30.2014 2015 General Ordinary Meeting
Fernando Dal-Ri Murcia Council Member 04.30.2014 2015 General Ordinary Meeting
Marcel Cecchi Vieira Council Member 04.30.2014 2015 General Ordinary Meeting
Bruno Meirelles Salotti Alternate Member 04.30.2014 2015 General Ordinary Meeting
João Domiraci Paccez Alternate Member 04.30.2014 2015 General Ordinary Meeting
Guillermo Oscar Braunbeck Alternate Member 08.14.2014 2015 General Ordinary Meeting

Vanessa Claro Lopes was Director of Corporate Internal Audit at Grupo TAM S/A between 2010 and 2014. She previously acted as Director of internal Audit at Globex Utilidades S/A. She began her career in the audit segment in 1995, at PricewaterhouseCoopers, having been responsible for the establishment in Brazil of the Group of Consultants for Telecom Network Services. She was head professor of IT Systems and Safety Audit at Faculdade Objetivo between 1997 and 1998. She was responsible for the audit teams of the mobile phone companies of the Telefônica Group between 2001 and 2004, having been responsible for the Mapping of Risks of all group companies in Brazil. She holds a degree in system analysis from FATEC/BS and in accounting from Universidade Federal Fluminense, with specialization in computer networks and business management.

Fernando Dal-Ri Murcia holds a Bachelor‘s degree in business management from Webber International University (USA) and in accounting from Universidade do Vale do Itajaí (SC). He holds a master‘s degree in accounting from Universidade Federal de Santa Catarina and a doctorate degree in accounting and controlling from Universidade de São Paulo. He is the head professor of Faculdade de Economia, Administração e Contabilidade of Universdade de São Paulo. He is the Latin American Representative of the Emerging Researchers Program of Deloitte Touche Tohmatsu and the International Association for Accounting Education and Research (IAAER). He is a Researcher and Scholar for the National Council for Scientific and Technological Development (CNPq). He is a member of the Federal Accounting Council (CFC), the American Accounting Association (AAA) and the European Accounting Association (EAA).

Marcel Cecchi Vieira, CFA is a member of the Fiscal Council at Via Varejo, a partner since 2011 at Laplace Finanças, a company specializing in investment and financial advisory services, and Chief Financial Officer of Usinas Itamarati, a sugar and ethanol producer. From 2009 to 2011, he worked at Andrade Gutierrez Telecomunicações, responsible for supervising the group’s investments in Oi, an integrated telephony company, and Contax, a customer service company, as well as two venture capital investments. During his time at AG Telecom, he served on the Board of Directors at Oi (and its holdings) and Contax. From 2004 to 2009, he served as a manager and then partner at Angra Partners, working on financial restructuring and holdings management projects involving the institutional investor fund FIP, an investment vehicle for the national pension funds of Brasil Telecom, Telemig Celular, Metro do Rio, Sanepar and Santos Brasil. From 1996 to 2004, he worked with the Accenture’s strategic consulting group in Brazil. Marcel Cecchi Vieira holds a degree in Mechanical Engineering from the São Carlos School of Engineering at the University of São Paulo and an MBA from the Tuck School of Business at Dartmouth, where he graduated as the Edward Tuck Scholar in recognition of his academic performance. He earned his CFA charter in 2008.

Bruno Meirelles Salotti holds a degree in accounting from Universidade de São Paulo (1999), a master’s degree in controllership and accounting from Universidade de São Paulo (2003) and a doctorate degree in controllership and accounting from Universidade de São Paulo (2005). He has been a Professor of Faculdade de Economia, Administração e Contabilidade of Universidade de São Paulo since 2006. He has experience in accounting specializing in accounting for external users, working mainly on corporate accounting and international accounting (IFRS). He has acted as an external auditor in Arthur Andersen S/C (between 1998 and 2000), accounting analyst at Dixie Toga S/A (between 2000 and 2001) and consultant at FIPECAFI (between 2001 and 2005). In addition, he is a member of the SAC Advisory Committee of the IAAER for matters discussed in the SAC Advisory Board of the IASB, a member of the CFC Working Group for the analysis of IASB’s standards, and a member of the Fiscal Council of Fundação Bunge. He is also a member of the International Accounting Laboratory Coordinating Body of FEA/USP.

João Domiraci Paccez has been an assistant professor of the Accountancy and Actuarial Science Department at the School of Economics, Administration and Accountancy of São Paulo University since 1992. He also works as a professor in several MBA courses at the Foundation Institute of Accounting, Actuarial and Financial Researches - FIPECAFI and at the Foundation Institute of Administration - FIA. He is an accounting and tax consultant of the Brazilian Association of the Leasing Company - ABEL and carries out business consultant activities in the areas of finance, accounting, costs and management systems. Currently, he is a sitting member of the Audit Board of the Foundation Institute of Accounting, Actuarial and Financial Researches - FIPECAFI, position that he has been holding since April 2010. He issues review reports on matters such as the accounting and financial aspects, and he also collaborates with other reviewers. He is the co-author of the book "Fundamentos da Contabilidade" ["Fundamentals of Accounting"] published by Saraiva Publishing House (1st edition in 2011) and, also, of the work book attached to the book "Contabilidade Introdutória" [Introduction to Accounting] prepared by a team of professors of São Paulo University published by Atlas Publishing House (11th edition in 2011). He was also the technical director of Cia. Itauleasing de Arrendamento Mercantil, from Itaú Group and managing director of the Foundation Institute of Accounting, Actuarial and Financial Researches - FIPECAFI.

Guillermo Braunbeck holds a degree in Economic Sciences from Unicamp and PhD in Controllership and Accounting from FEA/USP (Faculty of Economics, Administration and Accounting of the University of São Paulo). Mr. Braunbeck worked as independent auditor at Arthur Andersen between 1994 and 2001 and as risk manager at Votorantim Celulose e Papel S.A. (current Fibria S.A.) between 2002 and 2005, where he was in charge of the corporate risk management program, internal audit and ombudsman, besides leading several corporate projects, such as conformity with the Sarbanes-Oxley Act. Mr. Braunbeck was partner at Hirashima & Associados between 2005 and 2009, where he led accounting and financial consulting services in corporate restructuring and issues related to the International Financial Reporting Standards (IFRS). Mr. Braunbeck was a deputy member of Empresa Brasileira de Aeronáutica S.A. (Embraer)’s Fiscal Council between 2005 and 2010. He worked as professor and consultant at the Institute Foundation of Accounting, Actuarial and Financial Research - FIPECAFI between 2007 and 2011. Mr. Braunbeck was educational project manager of the International Accounting Standards Board (IASB) in London between 2011 and 2014, in charge of several publications of IFRS Foundation. Mr. Braunbeck participated in several IFRS projects sponsored by the United Nations (UNCTAD), World Bank and Accounting Federal Council. Currently, Mr. Braunbeck is PhD professor at the Accounting and Actuary Department of FEA/USP and partner of Laplane Consultoria Econômica.

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