PriceSmart names new CEO
PriceSmart has tapped its interim CEO to be its permanent chief executive.
The warehouse club operator has appointed Sherry Bahrambeygui as CEO, effective immediately. She has served in the role in an interim capacity for the past two and a half months, following the departure of Jose Luis, who resigned in October “by mutual agreement” with the company.
Bahrambeygui has been working with PriceSmart in various capacities for 16 years, including as a member of the board for the past eight years.
“During the past two and a half months, while serving as Interim CEO, she has visited most major markets and our operations in Miami, where she engaged extensively with executives and employees of all levels,” stated Robert Price, executive chairman of PriceSmart. “Sherry has demonstrated her ability to set strategic direction for our Company and we look forward to her leadership for the benefit of our PriceSmart members, employees and investors.”
PriceSmart, headquartered in San Diego, operates 41 U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company is currently constructing warehouse clubs in Santiago, Panama and Santo Domingo, Dominican Republic that are expected to open in the spring of 2019. It also plans to open warehouse clubs in San Cristobal, Guatemala and an additional club in Panama City, Panama, in the fall of 2019.
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