Mercado Libre Founder Steps Down After 26 Years as CEO

Mercado Libre will begin a new chapter in its history in 2026 following the departure of Marcos Galperín as chief executive officer. The company’s founder, who led its expansion for 26 years, will step down from the CEO role effective January 1 of that year but will remain involved as executive chairman. The succession was defined in advance and is focused on ensuring the operational and strategic continuity of the technology group with the highest market valuation in Latin America.

Since its founding in 1999, Mercado Libre has evolved from an auction site inspired by eBay into a comprehensive e-commerce and financial services platform. It operates in 18 countries, with over 100 million users and a workforce exceeding 100,000 employees. In 2023, it processed payments totaling approximately USD 200 billion and shipped 1.8 million products, solidifying its position as one of the most relevant players in the sector in the region.

The company’s leadership will be handed over to Ariel Szarfsztejn, currently executive vice president of e-commerce, who will assume the role of new global CEO. “It is an honor and a tremendous challenge to succeed Marcos in leading Mercado Libre,” stated Szarfsztejn, who joined the firm in 2017. According to his statements, “there is no limit to growth” for the company, which continues to advance with a logic of sustained expansion.

For over a decade, Galperín prepared internally for his departure from the general management of the company. “I wanted to do it while the company was doing well, and not just when the timing was right for me personally,” he explained in an interview with Bloomberg. As he detailed, the change will allow him to focus on key areas such as strategy and innovation, including the development of artificial intelligence applied to financial products.

“I am setting an example, I am resigning from my salary, my position, the role, because whoever leads this company cannot be focused on Mercado Libre and on other things,” noted Galperín, who will remain active in the company’s organizational structure. During his leadership, he also drove the growth of Mercado Pago as a digital payments system, now used by tens of millions of people in the region.

The succession occurs in a context of growing competition, especially with the advance of platforms like Shein and Temu in Latin America. In this scenario, Mercado Libre executives have requested clear rules to confront low-cost imports. Galperín adopted a prudent position: “It is not up to us to pressure governments to achieve it,” he declared.

Mercado Libre, whose market capitalization stands at around USD 120 billion, seeks to maintain its regional positioning without depending on a single figure. The succession process was described by analysts as solid and structured. “Before I was the captain, and now I will be the coach,” summarized Galperín in describing his new role, which will accompany the company’s development from a strategic position.