MercadoLibre Inc.’s chief financial officer is leaving the company following a two-decade stint during which the e-commerce provider developed its logistics network, its fintech arm and emerged as a regional giant.
Pedro Arnt, who joined the company in 1999 as a vice president for marketing and sales, left to pursue new opportunities, the firm said in a statement Thursday. He’ll be replaced by Martin De Los Santos, a senior vice president at the firm’s credit division.
MercadoLibre recently unveiled better-than-forecast profits for the second quarter, and moved to allay investors concern over its Argentina exposure ahead a nationwide primary vote on Sunday. The company’s fintech segment was launched in 2003 and has grown exponentially, accounting for about 44% of total revenue by the end of the second quarter.
Read More: MercadoLibre Is Changing the Way Latin Americans Shop—and Pay
Andres Anavi will take on De Los Santos’ functions, the company said.
Shares of MercadoLibre were down 2.7% in postmarket trading in New York amid the news on Arnt’s departure. The firm currently has a market value of about $69 billion.
Author: Vinícius Andrade
