When Marcos Galperín wrote the Free Market Business Plan during its MBA in Stanford in 1999, few imagined that this academic exercise, conceived in full boom of the Puntocom in Silicon Valley, would become the seed of the most valuable technological company in Latin America.
Twenty -six years later, the Argentine founder leaves CEO’s position, as he had anticipated it a couple of years ago, to assume a new role as president of the Board of Directors (Executive Chairman), from which he will continue to mark the course of the company.
As of January 1, 2026, Ariel Szarfsztejn, currently responsible for the Marketplace of Meli and one of the main architects of the recent growth of the company, will officially assume as CEO. The transfer, carefully orchestrated for months, is not a goodbye to the company that founded from a garage in Palo Alto. As he himself pointed out in an emotional letter to employees, partners and investors, this transition seeks to guarantee the sustainability of free market leadership beyond its generation.
“I always liked to do things a bit different. And although it was a very difficult decision, I made it because I am convinced that this transition is a fundamental step for Meli not only to remain the most dynamic and innovative company in Latin America, but become an organization that transcends me,” Galperin wrote.
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Galperin’s move is not unpublished. In fact, he remembers the step that Jeff Bezos took in Amazon when in 2021 he left CEO’s position and became president of the Board of Directors of the company he founded. Galperin will remain involved in high -level strategic decisions: product evolution, capital allocation, organizational culture and, key in this new stage, the application of artificial intelligence to transform the services of the Meli ecosystem.
In the letter that marks this turning point, Galperin admits that the moment was maturing for years. “When I turned 30, I thought I would take this step at 40. When I arrived at 40 I thought it would be at 45. When I turned 50, I thought it was better not to do more forecasts,” he wrote with humor.
Today, with 53 years and a personal fortune that is around 10,100 million dollars in Forbes calculations, consider that it is time to allow a new generation to take the reins of the operating day.
The relay: an expansion engineer
Ariel Szarfsztejn, his successor, studied at the University of Buenos Aires and obtained a postgraduate degree in Stanford, just like Galperin. He joined Mercado Libre in 2017, led the company’s logistics expansion throughout the region and more recently directed the Marketplace, one of the company’s growth and profitability engines.
Galperin says that Szarfsztejn has “the capacity, leadership, team confidence and, fundamentally, the enthusiasm necessary for Meli to take many new steps forward.”
The appointment not only represents a generational transition, but also the institutionalization of a business culture that Galperin has cultivated for more than two decades: client -centered, obsessed with innovation, but also austere and pragmatic. That same culture led Meli to become one of the few Latin American companies that competes from you to you with global giants like Amazon.
The impact of Galperin and Mercado Libre in Latin America transcends financial metrics. With operations in 18 countries, more than 75,000 employees and business units ranging from digital payments (payment market) to logistics (market shipments) and consumer loans (credit market), the company has become a centerpiece of the digital economy of the region.
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During the pandemic, it was essential to maintain the flow of goods and payments in countries where traditional infrastructure collapsed. By 2024, revenues exceeded 21,000 million dollars, and the company doubled its net profit, consolidating as the firm with the greatest stock market capitalization in Latin America: 131,000 million dollars
Since its IPO in 2007, the Free Market Action has been valued 9,029.72%, going from a price of $ 28.50 to one of 2,601.
That figure places Meli above historical such as Petrobras, and Galperin as the richest businessman in Argentina. His personal fortune, closely linked to the performance of Meli’s actions in Nasdaq, has grown hand in hand with the progress of electronic commerce in the region.
But Galperin’s greatest contribution may not be in accumulated wealth, but in having shown that from Latin America a world -class technological company can be built. From its first strategic decisions, such as the alliance with EBAY in 2001 or the acquisition of Deremate in 2005, until the creation of a fully integrated Fintech, logistics and digital ecosystem, its vision was consistent: Design a solution adapted to the challenges and opportunities of the region.
Unlike other companies that grew by mergers, Galperin opted for internal development. That strategy not only generated synergies, but also high entry barriers for potential competitors. Today, Mercado Pago administers assets for more than 6,000 million dollars and processes millions of daily transactions. The integration model that Galperin promoted has become a case study.
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There are few technological companies that have faced turbulence after the departure of their founding CEO. Galperin knows. Therefore, he planned this step with time, leading the transition to occur “in our own terms,” as he said. It is a key step in the institutional consolidation of Mercado Libre.
While leaving the operational rudder, its shadow will remain long. His role as Executive President will allow him to continue molding the future of the company in an industry marked by constant disruption.
“Believe me when I tell you that the best is coming,” he wrote in his farewell letter as CEO.
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