Brazilian mall conglomerate Iguatemi Group has appointed Cristina Betts, its vice president of finance, as its new chief executive, effective Jan. 1, 2022. Betts will succeed current CEO, Carlos Jereissati, whose family founded Iguatemi back in 1966.

Betts joined Iguatemi in 2008, and was previously responsible for the company’s finance, technology, management and strategic planning departments.

“It is a great honour to be taking [over from] a natural leader who has always inspired me. I am very excited about the new challenges ahead and am convinced we will continue on a journey of growth,” Betts said.

Jereissati joined the company in 1997 and has been CEO since 2005. During his tenure, Iguatemi shopping centres became a hub for luxury shopping across Brazil and a key partner for luxury brands within the country, both offline and, more recently online via its Iguatemi 365 platform. Jereissati also led the company’s expansion following its stock market listing in 2007. From January 2022, Jereissati will continue to serve on the company’s board of directors.

Iguatemi currently manages 14 strategically located shopping centres across Brazil, including its namesake properties in locations such as Sao Paulo, Campinas and Porto Alegre. Known for providing its clientele with a comprehensive selection of brands, Iguatemi is a key player in Brazil’s luxury and retail segment.

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