Michael Klein (businessman)

For other people named Michael Klein, see Michael Klein (disambiguation).
Michael Klein
Born 1951 (age 64–65)
Munich, Germany
Residence Barueri, Brazil
Citizenship Brazilian
Alma mater Paes de Barros University
Getulio Vargas Foundation
Occupation CEO of Casas Bahia
Director of Via Varejo
Chairman of Grupo CB
Years active 1969-present
Known for Former Chairman of Via Varejo
Net worth US$ 1.1 billion (2016)
Religion Jewish
Children 4
Website www.grupocb.com.br

Michael Klein (born 1951) is a Brazilian business executive. He is the CEO of the Brazilian chain of department stores, Casas Bahia, and a Member of the Board of Directors of Via Varejo, the parent company of Casas Bahia, Ponto Frio and Nova Pontocom.[1] Michael's father, Samuel Klein, founded Casas Bahia in 1952.

In 2016, Forbes ranked him the 38th richest person in Brazil with a personal net worth of $1.1 billion.[2]

Klein and his family reside in Alphaville, a gated community situated in São Paulo.[3]

Life and work

Casas Bahia and Via Varejo

Klein graduated with a degree in Business Administration from Paes de Barros University, and completed his post-graduate studies at the Getulio Vargas Foundation. In 1969, he joined Casas Bahia as a Financial Manager.[4] In 2009, Klein became CEO of the company after his father retired in Brazil. In 2010, he was elected Chairman of the Board of Directors of Via Varejo. His son, Raphael Oscar Klein, has served as a Member of the Board of Directors of Via Varejo.[1]

In May 2013, it was announced that the Klein family, which owned 47% of Via Varejo, was planning to sell 16% of their stake in the company.[5] In September 2013, Klein transferred 17.6 million of his shares of Via Varejo to his children,[6] and as a result, his stake in the company has been reduced from 21.9% to 18%.[7] 53.7 million common shares of the family's stake began trading on December 16, 2013.[8] Via Varejo raised R$ 2.845 billion through a public offering of shares. Three quarters of the amount raised went to the Klein family, while the rest went to GPA.[9] Ownership of the company has changed to GPA with 43.3%, the Klein family with 27.3%, and minority shareholders with 29.3%.[10]

In August 2014, it was announced that Klein may sell an amount of shares valued at R$3 billion of his stake in Via Varejo.[11]

In May 2016, it was announced that Klein is interested in buying back control of Via Varejo.[12]

Grupo CB

In September 2013, it was announced that Klein was in talks to purchase AVX Táxi Aéreo, an air taxi company owned by Eike Batista.[13]

In May 2014, BR Properties, a Brazilian real estate investment firm, confirmed it was negotiating a sale of its assets with Klein.[14] In July 2014, Grupo CB, the Klein family's holding company chaired by Michael Klein, purchased a real estate fund from BR Properties for R$606.65 million. The fund includes 26 C&A stores, a Brooksfield store, a Sendas store, a call centre, and offices on Paulista Avenue in downtown São Paulo, totaling 118,000 square meters of commercial space.[15][16]

CBAir, an air taxi company founded by Klein in 2012, has received operational authorization from ANAC in January 2015. The company's fleet includes 15 business jets and helicopters, and 2 hangars in Campo de Marte Airport and Sorocaba Airport.[17][18]

In March 2015, Grupo CB acquired five office properties occupied by Wells Fargo, totaling 1.6 million square feet across four Southern U.S. states.[19]

In March 2016, Grupo CB opened a Mercedez-Benz dealership in Jundiai, São Paulo.[20]

In April 2016, it was revealed that Neymar purchased a business jet from the Klein family for $9.1 million.[21]

Grupo CB currently holds a real estate portfolio of 432 properties worth R$5 billion in total, including stores, industrial warehouses, administrative complexes, offices and distribution centers, totaling over 2 million square meters of commercial space. Grupo CB's revenues are R$400 million annually.[22][23]

References

  1. 1 2 "Directors, Executive Officers and Committees", Viavarejo. Retrieved on 22 July 2015.
  2. ↑ "The World's Billionaires List". Forbes. Retrieved 18 April 2016.
  3. ↑ "Brazil's Elites Fly Above Their Fears". The Colombian Post. 3 June 2002. Retrieved 23 June 2013.
  4. ↑ "Michael Klein", Businessweek. Retrieved on 9 September 2013.
  5. ↑ Jelmayer, Rogerio (14 June 2013). "Brazil Durable Goods Retailer Via Varejo Plans Share Offers". The Wall Street Journal. Retrieved 23 June 2013.
  6. ↑ Marinelli, Luciana (9 September 2013). "Família Klein confirma reorganização societária na Via Varejo" (in Portuguese). Valor. Retrieved 9 September 2013.
  7. ↑ Ayres, Marcela (10 September 2013). "Família Klein reorganiza participação societária na Via Varejo" (in Portuguese). Reuters Brasil. Retrieved 11 September 2013.
  8. ↑ "Brazil's Pao de Acucar, Klein family to sell Via Varejo shares". Reuters. 25 November 2013. Retrieved 26 November 2013.
  9. ↑ "Ações da Via Varejo estreiam em alta na Bovespa" (in Portuguese). UOL (São Paulo). 16 December 2013. Retrieved 17 December 2013.
  10. ↑ "Corporate Structure". Via Varejo. Retrieved 22 July 2015.
  11. ↑ Poli, Marcelo (8 August 2014). "Michael Klein pode vender bilhões em ações da Via Varejo" (in Portuguese). Exame (São Paulo). Retrieved 9 August 2014.
  12. ↑ Jardim, Lauro (1 May 2016). "Klein quer recomprar o controle da Via Varejo" (in Portuguese. O Globo. Retrieved 1 May 2016.
  13. ↑ "Retail mogul in talks to buy Eike Batista's air taxi company". Valor International. 17 September 2013. Retrieved 29 April 2016.
  14. ↑ "BR Properties confirma conversas com Michael Klein" (in Portuguese). ISTOÉ Dinheiro. 21 May 2014. Retrieved 26 May 2014.
  15. ↑ Friedlander, David (3 July 2014). "Família Klein, ex-Casas Bahia, compra fundo com 36 imóveis por R$ 606 mi" (in Portuguese). TNOnline. Retrieved 3 July 2014.
  16. ↑ Pavani, Luana (3 July 2014). "Grupo CB compra cotas de fundo da BR Properties". (in Portuguese). Estadao. Retrieved 3 July 2014.
  17. ↑ Vaz, Tatiana (20 January 2015). "Empresa de aviação de Michael Klein já pode voar" (in Portuguese). Exame (São Paulo). Retrieved 20 January 2015.
  18. ↑ "Aeronaves - CBAir" (in Portuguese). CBAir. Retrieved 26 April 2016.
  19. ↑ Zanki, Tom (9 March 2015). "Brazilian Trust Wins $95M Financing For Wells Fargo Offices". Law360. Retrieved 11 March 2015.
  20. ↑ Vaz, Tatiana (10 March 2016). "Michael Klein abre concessionária da Mercedes em Jundiaí". EXAME.com. Retrieved 18 April 2016.
  21. ↑ Ramírez , Pau (29 April 2016). ("Neymar se compró un avión en Brasil por 8 millones de euros" (in Portuguese. Mundo Deportivo. Retrieved 29 April 2016.
  22. ↑ Oscar, Naiana (25 April 2016). "Herdeiro da Casas Bahia desiste da classe C e lança negócios para a alta renda" (in Portuguese). Gazeta Do Povo. Retrieved 26 April 2016.
  23. ↑ "Negócios Imobiliários" (in Portuguese). Grupo CB. Retrieved 26 April 2016.
This article is issued from Wikipedia - version of the Monday, May 02, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.