GPA announced the appointment of three new executives to its leadership team on Thursday, April 16, 2026, as part of an operational overhaul amid ongoing financial restructuring talks with creditors.
The Brazilian retailer, which controls the Pão de Açúcar, Extra and Mini Extra supermarket chains, said José Rafael Vasquez will take charge of commercial operations. Vasquez previously served as CEO of Sam’s Club in Brazil and held leadership roles at Carrefour, Walmart, Cencosud and Pague Menos.
Jonas Laurindvicius, former CEO of Grupo DPSP, has been named executive director of supply chain, while Jorge Jubilato, who has worked at Pague Menos, Rede de Farmácias São João and Atacadista Roldão, will lead human resources.
The appointments come as GPA negotiates with creditors to address approximately 4.5 billion Brazilian reais in debt through an extrajudicial recovery process. Company shares have declined 41.1% year-to-date, reducing market value to 1.16 billion Brazilian reais.
CEO Alexandre Santoro told NeoFeed that the new leadership team will focus on resolving fiscal, labor and financial liabilities while improving customer experience and operational efficiency. The group aims to cut costs by more than 700 million Brazilian reais without pursuing major expansions, instead prioritizing the performance of existing stores.
Santoro added that discussions with creditors are progressing in a “positive tone” as the company works to stabilize its operations under the recovery plan, which has an initial 90-day timeframe and immediate effect.
