Mercado Libre (MELI)'s Founder CEO Stepping Down
MELI is the largest position in the Sleep Well Portfolio, I discuss the timing and transition plans.
Mercado Libre is Sleep Well Portfolio's largest position at ~18%.
After 26 years at the helm, Founder and CEO Marcos Galperin is stepping down. Commerce head, Ariel Szarfsztejn, will start as the new CEO on January 1, 2026 (SEC filings).
It is a sad day for me as Marcos is the longest and most successful CEO of all the businesses I own. He particularly conquered Latin America, which has been the most challenging region in which to run a business. He also showed that it was possible to beat Amazon, giving a blueprint to Sea Limited, our 2nd largest position, to defeat Southeast Asian incumbents.
Thank you, Marcos Galperin. (from an owner of shares from 2020).
Meli’s writeups: The Most Sleep Well Investment Of LATAM, Top pick for 2025, Q1’25, Q4’24, Q3’24 update, and Buy Alert.
What’s next?
Sleep Well's track record since sharing the portfolio in October 2023.
23 of 24 trades are green
No losers in the portfolio, average return 61%, annualized.
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