December 17, 2019 / 12:47 PM / 2 months ago

New management at Via Varejo seeks biggest turnaround in Brazil's retail market - CEO

SAO PAULO, Dec 17 (Reuters) - New management at Brazilian electronics and home appliances retailer Via Varejo SA is committed to achieving what it calls the biggest business turnaround in Brazil’s retail market, its chief executive officer told investors on Tuesday.

The move comes months after Brazilian retail veteran Michael Klein and his family gained control of Via Varejo from GPA SA , a subsidiary of France’s Casino Guichard Perrachon SA. New management has laid off workers and hired new ones hoping to reinvigorate the company, it said. (Reporting by Gabriela Mello, editing by Louise Heavens)

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