CEO Transition | A Letter from Marcos Galperin to Mercado Libre Employees
Hello,
I want to share with you some news that marks the beginning of a new and exciting stage for Mercado Libre. After 26 years leading the company as CEO, I have decided to transition to a new role as Executive Chairman, starting January 1, 2026, when Ariel Szarfsztejn will assume the role of CEO. In the coming months, we will work together on a transition.
In my role as Executive Chairman, I will remain closely involved at MELI. My focus will be on strategy, product development, culture, capital allocation decisions, specifi c projects, and how we will continue to apply artifi cial intelligence to transform our business and our company.
I am absolutely convinced that Ariel Szarfsztejn is the right person to lead this new stage as CEO of MELI. Ari studied at the University of Buenos Aires and completed a postgraduate degree at Stanford. He joined MELI in 2017 and started in Strategy and New Business, then led the development of our logistics network throughout Latin America, and for the past three years, has successfully led our Marketplace. He possesses the ability, leadership, the team's trust, and, crucially, the culture necessary to guide MELI for many years to come.
This is a generational change, and I know that Ari, along with the talented team that has supported me, has everything it needs to ensure MELI continues to grow strongly in the coming decades, continuing our mission to democratize e-commerce and fi nancial services in the region.
I made this decision after considering it for many years. When I turned 30, I thought I would take this step at 40. When I turned 40, I thought it would be at 45. When I turned 50, I thought it was best not to make any more predictions!
But a couple of years ago, I realized it was time to decide, applying the same principle that has guided my toughest decisions since I founded MELI in 1999: always prioritize what's best for the company, beyond my personal feelings.
I'm proud to have created MELI, written its business plan in college, hired a formidable team—many of whom remain with me to this day—and, together with them and many others who joined, grown this company, achieved profi tability, IPO'd on the Nasdaq, added millions of users, launched new products, adapted to technological changes, built and developed the largest technology team in Latin America, the largest e-commerce logistics network, became the company with the highest market valuation in the region, and, above all, realized our dream: democratizing commerce and fi nance in Latin America, helping hundreds of millions of people live better lives.
While I still have the same energy and passion as the fi rst day, after having competed favorably against some of the largest companies in the world, I believe one of the most important challenges MELI faces is ensuring a successful transition once its founding CEO leaves that role. I have seen technology companies face diffi culties in this process. That's why I preferred to lead it with time, on our own terms, and to do so with excellence so I could continue to lead in an industry of constant disruption and change, that is hyper-competitive and that neither gives nor takes breaks.
Today, MELI is experiencing one of its best moments: in terms of scale, growth, profi tability, strategic positioning, fi nancial strength, technology, and market positioning. The opportunities ahead are practically unlimited, and we have a team with the capacity, culture, and ambition necessary to make the most of them.
I've always liked doing things a little diff erently; thinking and acting diff erently. And although it was a very diffi cult decision, I made it because I am convinced that this transition is a fundamental step for MELI to not only continue to be the most dynamic and innovative company in Latin America, but also to become an organization that transcends me, my generation, and many more. I know that witnessing this process of consolidation and growth will be what I am most proud of.
Therefore, believe me when I tell you that the best is yet to come.
Thank you to everyone who has accompanied me on this journey: users, investors, partners, colleagues, employees, directors, friends, and many others. Above all, thank you to my family for always being there.
Thank you so much,
Marcos.