Via intends to announce soon that it has hired former Movida CEO Renato Franklin as its new CEO, replacing Roberto Fulcherberguer, who has been in the job for three and a half years, sources familiar with the matter told the Brazil Journal.
Renato will assume command of the owner of Casas Bahia and Ponto on May 1st.
The decision to replace Fulcherberguer came from the board’s conviction that the company’s challenges are facing a new cycle.
“The company ended a cycle with positive cash generation last year, and now it has to start a new cycle with energy to leverage its strategic advantages,” said a person who participated in the discussions.
Fulcherberguer – who had already worked at Via for two decades, reporting to Samuel and Michael Klein – returned to the helm of Via in July 2019, when a group of investors led by Michael bought control of the company in a follow-on which gave way to the Casino Group.
Fulcherberguer welcomed the company with a challenge of BRL 5 billion in cash and “did not let the shuttle drop,” and during covid he knew how to pivot the company with “call me on zap,” a strategy that has become a worldwide case, according to that person close to the board.
Renato commanded Movida, part of the Simpar group, owned by businessman Fernando Simões, since 2014.
The 41-year-old executive has a lot of experience in retail, store and operations, and is well versed in dealing with investors. He also faced the challenge of new lines of business – with rental companies starting to make money from used cars – and is used to a market where competition is brutal.
Like all retailers, Via faces a slowing market with the Selic parked at 13.75%. The share trades at BRL 1.89, with the company worth BRL 3 billion on the Exchange.
Geraldo Samor