PriceSmart appoints Gualberto Hernandez as CFO effective June 1; Michael McCleary to retire

PRICESMART INC

Hernandez, 61, joins from Estée Lauder where he was VP Finance & Strategy for Latin America since 2016.
Current CFO Michael McCleary resigned by mutual agreement, will serve as EVP through Sep 30, then consult up to 40 hrs/month for 3 months.
Hernandez receives $720K base salary, $180K target bonus, $4.5M stock award (vesting $900K/yr), $150K sign-on bonus, and relocation.
McCleary severance: $721K over 1 year, up to $180,250 cash incentive tied to FY2025, health coverage for 18 months, and continued vesting on 12,074 shares.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael McCleary

Executive Vice President and Chief Financial Officer

PSMT · PRICESMART INC

Effective: 2025-06-01
Successor: Gualberto Hernandez
Filed: May 9, 2025, 7:59 PM ET

PriceSmart’s current Executive Vice President and Chief Financial Officer Michael McCleary resigned by mutual agreement with the Company, but will continue to serve as an Executive Vice President of the Company through September 30, 2025.

Appointed

Gualberto Hernandez

Executive Vice President and Chief Financial Officer

PSMT · PRICESMART INC

Effective: 2025-06-01
Filed: May 9, 2025, 7:59 PM ET

PriceSmart, Inc., a Delaware corporation (“PriceSmart” or the “Company”), today announced the appointment of Gualberto Hernandez as Executive Vice President and Chief Financial Officer effective June 1, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael McCleary resigned as Executive Vice President and Chief Financial Officer at PRICESMART INC.

Action: resigned
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

PriceSmart’s current Executive Vice President and Chief Financial Officer Michael McCleary resigned by mutual agreement with the Company, but will continue to serve as an Executive Vice President of the Company through September 30, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gualberto Hernandez was appointed as Executive Vice President and Chief Financial Officer at PRICESMART INC.

Action: appointed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

PriceSmart, Inc., a Delaware corporation (“PriceSmart” or the “Company”), today announced the appointment of Gualberto Hernandez as Executive Vice President and Chief Financial Officer effective June 1, 2025.

View on SEC.gov

PRICESMART INC filing history →

Source: SEC EDGAR

accession 0001041803-25-000033

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