Shares of Uruguay’s first tech unicorn, Dlocal, rallied Tuesday after the company named e-commerce veteran Pedro Arnt as its co-chief executive officer in its latest management overhaul after an attack from a short seller and a probe in Argentina hurt the stock.
Arnt, who left the post of chief financial officer of e-commerce giant MercadoLibre Inc. last week after almost a quarter century at one the region’s most valuable publicly-traded firms, will serve along chief executive office Sebastian Kanovich, the company said in a statement.
In an interview following the earnings statement, Arnt said he will focus on expanding Dlocal’s payments platform to keep pace with its business clients in emerging markets, shrugging off the idea that the company needs a major revamp.
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