A New Chapter for Retail Giant Falabella
Falabella, the prominent South American retail conglomerate, has officially appointed Fernando de Peña as its new Chairman of the Board. The decision follows a significant restructuring of the company’s leadership, which saw four of the nine board seats filled by new members during Tuesday’s shareholders' meeting.
De Peña, a seasoned executive with a deep history within the group, secured his position with strong support from key shareholder families, including the Fürst family, the Solari clan, and the Cúneo family. His appointment was widely anticipated after he emerged as the leading candidate during the shareholders' vote, representing 12.24% of the company's shares.
A Legacy of Leadership
De Peña is no stranger to the Falabella ecosystem. He brings with him 35 years of experience, most notably from his long-standing tenure at Mallplaza, the shopping center division of the Falabella group. Having stepped down as general manager of Mallplaza in late 2025, De Peña is well-positioned to leverage his institutional knowledge to guide the parent company.
"I am very happy and grateful for having been invited to be part of the Board of Directors of Falabella," De Peña stated. "Receiving the task of presiding over it today is an honor and a great responsibility. I hope to carry it out with a strategic view, boosting the company's growth through integrity and by seeking the consensus necessary to consolidate this new stage."
De Peña succeeds Enrique Ostalé, who had served as chairman since 2023. Ostalé did not seek re-election and has officially departed from the company’s board.
Strategic Consolidation
The leadership transition comes at a pivotal time for Falabella. After navigating a challenging financial landscape in the post-pandemic years, the company has recently reported historic results for 2025. Market analysts suggest that the new board composition is designed to maintain this momentum.
Reflecting on the company’s recent turnaround, De Peña noted that Falabella has successfully demonstrated an ability to "read the context and reconnect with its customers." He emphasized that the primary focus for the new board will be to execute the company’s strategy across all business units with precision and consistency.
A Refreshed Board Structure
The newly constituted board reflects a mix of continuity and fresh perspectives. Juan Carlos Cortés Solari, who has been a board member since 2002 and vice chairman since 2017, was ratified to continue in his current role.
The full board now consists of Fernando De Peña, María Cecilia Karlezi, Juan Carlos Cortés Solari, Carlo Solari Donaggio, Paola Cúneo, Alfredo Moreno Charme, and new members Juan Pablo Del Rio, Tomás Müller, and Carolina Schmidt. This group faces the task of steering the retail giant through an increasingly competitive and evolving global market.
