Companhia Brasileira de Distribuição (‘CBD', the ‘Company' or ‘GPA') announced a change in its leadership. The Board of Directors of the company has appointed Peter Paul Estermann to the position of CEO of GPA, replacing Ronaldo Iabrudi Pereira. Iabrudi will be appointed by the controlling shareholder to the position of co-vice president of the Board of Directors, alongside Arnaud Strasser, on the first General Shareholders Meeting to be held in 2018 and will also remain as chairman of the Via Varejo board of directors.

Peter Paul Estermann will assume his new position on April 27, 2018. Ronaldo Iabrudi will dedicate himself to the Boards of GPA and Via Varejo. Under his leadership, and in the midst of the greatest economic crisis in Brazilian history, GPA implemented a meritocratic model with strong financial discipline and a strategic management of the store portfolio.

Iabrudi laid the foundations for the Company's digital transformation. Iabrudi also focused on raising the corporate governance level of GPA, resulting in a stronger culture and team engagement. Christophe Hidalgo, who has been GPA CFO since 2012, will also be responsible for the Malls business unit, focusing on continuing to monetize the Company's real estate assets.

Luis Moreno Sanchez will become a consultant, focused on projects of great relevance to the Company, such as digital transformation, retail brands and loyalty programs.