SAO PAULO, May 21 (Reuters) - Latin American e-commerce

giant MercadoLibre ( MELI ) announced on Wednesday that Chief

Executive and co-founder Marcos Galperin will be replaced by

current commerce head Ariel Szarfsztejn as of 2026.

Galperin will move "to a more strategic role within the

company, as executive chairman of the board," MercadoLibre ( MELI ) said

in a securities filing.

Galperin, now a billionaire and one of the region's most

influential entrepreneurs, co-founded MercadoLibre ( MELI ) 26 years ago,

building it into Latin America's most valuable firm by market

cap.

Szarfsztejn joined MercadoLibre ( MELI ) in 2017 and held several

positions before assuming the commerce leadership role in 2023.