Pedro Arnt, MercadoLibre CFO, joins Aleph Group's Board of Directors

Rhea-AI Summary

Aleph Group, Inc announced that Pedro Arnt, Chief Financial Officer of MercadoLibre (NASDAQ: MELI), is joining its Board of Directors and will also chair the Audit Committee. Arnt brings extensive experience from his tenure at MercadoLibre, where he has served since 1999, becoming CFO in 2011. This move comes as Aleph seeks to enhance its digital advertising capabilities, particularly in collaboration with MercadoLibre, which invested in Aleph in 2021. Aleph aims to strengthen business development and maximize advertising monetization in emerging markets.

Positive

• Pedro Arnt joins Aleph's Board, bringing significant financial expertise.
• Collaboration between Aleph and MercadoLibre may enhance digital advertising monetization.

Negative

• Concerns about continuity in leadership experience at Aleph.

MIAMI, Feb. 17, 2022 /PRNewswire/ -- Aleph Group, Inc ("Aleph" or "the Company"), a global partner to the world's biggest digital media players, today announced that Pedro Arnt, Chief Financial Officer of MercadoLibre (NASDAQ: MELI), the largest Latin American e-commerce and fintech player, is joining Aleph's Board of Directors. Arnt will also serve as Chair of the Audit Committee.

Arnt is widely recognized for his C-Level experience at MercadoLibre, one of the most successful global marketplaces and fintech companies. He joined MercadoLibre in 1999 and has served as CFO since 2011. He initially led MercadoLibre's business development and marketing teams, and later managed the Company's customer experience operations. Arnt was instrumental in MercadoLibre's journey to become a public company when he served as Vice President of Strategic Planning, Treasury & Investor Relations. Before MercadoLibre, Arnt worked at The Boston Consulting Group.

MercadoLibre invested in Aleph in 2021, and is collaborating with Aleph to monetize advertising space on its digital properties in countries where MercadoLibre does not have local sales operations. Further, MercadoLibre and Aleph will partner to explore and collaborate on new business development opportunities in digital advertising.

"We are thrilled to welcome Pedro, and look forward to benefiting from his business and financial expertise," states Gaston Taratuta, Founder and CEO of Aleph. "Pedro is a tremendous addition to the Board at a critical time in our corporate history as Aleph begins its next chapter. I'm extremely proud of what we have achieved over the course of the past 17 years and energized by what's to come."

"I met Gaston Taratuta nearly 20 years ago and have been inspired his ability to grow Aleph into the digital world's connector," said Arnt. "I have been consistently impressed by the evolution of the business and, most importantly, by the Company's ability to execute and innovate for its partners. I look forward to working closely with the rest of the Board and leadership team through Aleph's next phase of growth."

This announcement follows the appointment of Imran Khan as Chairman of Aleph Group in 2021.

ABOUT ALEPH GROUP, INC
Aleph Group, Inc is a leading global enabler of digital advertising, serving as a crucial link at the core of the global digital ecosystem by connecting the largest digital platforms with thousands of advertisers and billions of consumers in emerging and underserved countries.

We have commercial and, in many cases, exclusive agreements with over 25 of the leading digital platforms, including: Twitter, Meta, LinkedIn, Snapchat, TikTok, Spotify and Twitch. Through these relationships, we provide digital platforms with a sustainable and scalable way to monetize their advertising inventory in emerging countries at little additional cost and complexity. We combine these relationships with an extensive global footprint and an end-to-end digital advertising solution that enables advertisers in 77 countries to reach close to 3 billion consumers and maximize their digital advertising potential.

For more information please visit: www.alephholding.com or contactus@alephholding.com.

CONTACTS

Sard Verbinnen & Co
Cassandra Bujarski/Emily Claffey /Julie Rudnick/Kate Gorgi
Aleph-SVC@SARDVERB.com  

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SOURCE Aleph Group, Inc

FAQ

Who is Pedro Arnt and what is his role with Aleph Group?

Pedro Arnt is the Chief Financial Officer of MercadoLibre and has joined Aleph Group's Board of Directors, also serving as Chair of the Audit Committee.

What impact will Pedro Arnt's appointment have on Aleph Group?

Arnt's appointment is expected to bring valuable financial and business insights, particularly in enhancing Aleph's digital advertising strategies.

What is the significance of MercadoLibre's investment in Aleph?

MercadoLibre's investment in Aleph aims to monetize advertising space in regions where MercadoLibre lacks local operations, potentially boosting revenue for both companies.

What prior experience does Pedro Arnt bring to Aleph Group?

Pedro Arnt has extensive experience from MercadoLibre, where he has worked since 1999 and served as CFO since 2011, focusing on business development, strategy, and finance.