Santiago, Chile – Fernando de Peña, the long-serving head of Mallplaza, is set to transition out of his role as General Manager at the end of December 2025, after a tenure of 35 years. The announcement, made by Mallplaza to its board, comes as the Chilean retail conglomerate pursues a significant expansion strategy in Peru, including a public acquisition offer for Falabella Perú S.A.A. Worth $455 million.
Pablo Pulido Sierra, currently the General Manager of Mallplaza in Chile and Colombia, will succeed de Peña on January 1, 2026. Pulido has been with Mallplaza for a decade, previously holding positions with Grupo Casino in France and Grupo Éxito in Colombia, bringing extensive retail experience to the leadership role.
The move follows Mallplaza’s recent offer to acquire all outstanding shares of Falabella Perú, a move that would give Mallplaza control of 100% of Open Plaza operations and a 66.6% stake in Mallplaza Peru. According to de Peña, this acquisition is intended to solidify Mallplaza’s position as the second-largest shopping center operator in Peru. The offer, launched through Plaza S.A., values each share at $0.11641713.
De Peña’s departure also coincides with a period of internal shifts at Falabella. Seven shareholders have nominated de Peña to the Falabella board, with an eye toward a potential presidency of the retailer, following the end of a historical agreement between founding families. This development suggests a potential restructuring of leadership within Falabella as well.
During his 35-year leadership, de Peña oversaw the development of iconic Mallplaza locations in Chile, including Mallplaza Vespucio, Mallplaza Trébol, and Mallplaza Oeste, and spearheaded the company’s expansion into Peru and Colombia. Mallplaza currently operates 17 shopping centers in Chile, 15 in Peru, and 5 in Colombia, totaling over 2.3 million square meters of leasable area.
While Mallplaza focuses on consolidating its presence in Peru, the company is also evaluating potential multifamily projects in Chile, according to de Peña. The company has not yet provided details on these potential developments.
