MercadoLibre CFO leaves ecommerce powerhouse after 24 Years

MercadoLibre Inc’s chief financial officer is leaving the company following a two-decade stint during which the ecommerce provider developed its logistics network, its fintech arm and emerged as a regional giant.

Pedro Arnt, who joined the company in 1999 as a vice-president for marketing and sales, left to pursue new opportunities, the firm said in a statement Thursday. He’ll be replaced by Martin De Los Santos, a senior vice-president at the firm’s credit division. 

MercadoLibre recently unveiled better-than-forecast profits for the second quarter, and moved to allay investors concern over its Argentina exposure ahead a nationwide primary vote on Sunday. The company’s fintech segment was launched in 2003 and has grown exponentially, accounting for about 44 percent of total revenue by the end of the second quarter.

Andrés Anavi will take on De Los Santos’ functions, the company said.

Shares of MercadoLibre were down 2.7 percent in post-market trading in New York amid the news on Arnt’s departure. The firm currently has a market value of about US$69 billion.