The year begins with important changes in the leadership of two Brazilian retail groups, GPA and IMC , a food service company that owns brands such as Frango Assado and Viena, as well as Pizza Hut's operations in Brazil.
The changes in leadership involve one name in particular: Alexandre Santoro . The executive, who until then was in charge of IMC's operations, was announced as the new CEO of GPA in a relevant fact disclosed on the morning of Monday, January 5th.
Santoro will replace Rafael Sirotsky Russowsky, who had been combining the leadership of GPA with the positions of vice president of finance and director of investor relations – roles he will retain after the transition.
Russowsky, in turn, assumed the position on an interim basis in October 2025, following the resignation of Marcelo Pimentel , who had been at the helm of the food retailer since March 2022, when he joined the company to implement a broad restructuring process.
Restructuring was also the mandate Santoro received when he took over as CEO of IMC in April 2021. At the time, the group was heavily impacted by the pandemic, and one of his directives was to prioritize the Frango Assado, Pizza Hut, and KFC chains.
As part of this strategy, IMC has undertaken a series of divestments to simplify its operations, including some of its assets outside of Brazil. Most recently, at the end of 2025, the group announced the sale of 100% of its stake in KFC Brazil.
In a relevant fact disclosed this Monday, the company informed that it is in the advanced stages of defining the new CEO. And that Natália Lacava will assume the position on an interim basis, combining the role with the positions of administrative and financial director and director of investor relations.
The company also emphasized that Santoro's departure involved a transition process previously agreed upon by both parties. This includes the executive's nomination to join its board of directors, which is still subject to approval.
At GPA, his new home, Santoro will find a company that underwent a series of restructurings in 2025, which were not limited to the departure of Marcelo Pimentel. Throughout last year, these movements took place mainly at the shareholders' desks and, consequently, at the board meeting.
In the most recent change within this scope, the Coelho Diniz group, owned by the family of the same name, took control of the group, with a 24.6% stake. As a result, in October 2025, André Coelho Diniz assumed the position of chairman of the company's board of directors.
GPA shares were down 1.51% around 10:35 AM on the B3 stock exchange, trading at R$ 3.90, giving the group a market value of R$ 1.91 billion. Meanwhile, IMC shares were up 1.60% at the same time. The company is valued at R$ 364 million.
