San Diego PriceSmart Inc. has named Jose Luis Laparte as CEO.
Laparte, who already is president of PriceSmart, adds the CEO title. He takes over the post relinquished by Robert Price, who will remain chairman.
Laparte joined the company in 2004. PriceSmart said that under his leadership, net warehouse sales has more than doubled since 2005 to more than $1.3 billion in the fiscal year ended Aug. 31, 2009.
Operating income stood at $66.6 million in the 12 months ended May 31. It lost $5.4 million in fiscal 2004.
PriceSmart operates 27 warehouse clubs in Central America and the Caribbean.