Sonae's Next Chief Executive Will Be Its Finance Director, João Dolores, as Cláudia Azevedo Moves Up to Chair in 2027
The board's proposal, backed by the Azevedo family's holding company Efanor, takes effect after the April 2027 general meeting. It caps a reshuffle that has also reached Sonae Sierra.
Sonae, the Maia-based group behind the Continente supermarkets and the Worten electronics chain, is preparing its first change of chief executive in eight years. Its board has proposed that the finance director, João Dolores, take over as CEO, and that Cláudia Azevedo, who has run the company since 2019, become chair of the board.
The change would take effect at the start of the next board mandate, after shareholders elect a new board at the general meeting in April 2027 and that board confirms the appointments.
Why now
The proposal, announced on Thursday, follows a succession planning process that began when Paulo Azevedo decided not to stand again for the board and Cláudia Azevedo decided not to seek a third term as CEO, the company said. Both, it said, felt the conditions were in place "for a transition and the start of a new cycle in the leadership of the group", with "the support and enthusiasm of the whole Azevedo family".
The plan has the backing of Efanor, the Azevedo family holding company that is Sonae's majority shareholder. Cláudia Azevedo keeps her executive role until the new mandate begins and will work closely with João Dolores in the coming months to ensure a smooth handover, Sonae said.
Who is João Dolores?
Dolores already sits on Sonae's board and executive committee as chief financial officer. The company credits him with a decisive role in setting its strategy in recent years and in running its investment activity and its support for the group's businesses.
Cláudia Azevedo, the daughter of Belmiro de Azevedo, who built Sonae into one of Portugal's biggest groups, joined Sonae as an intern in 1994 and worked across several of its businesses before becoming CEO. Over her eight years in the post, Sonae said, she led the company through a period of growth and international expansion.
A wider reshuffle
The move at the top caps a run of leadership changes across the group. Earlier in the week, the shopping centre business Sonae Sierra named Luís Mota Duarte as its next CEO from January 2027, succeeding Fernando Guedes de Oliveira, who has led it for more than 15 years. Since mid-2025 the group has also changed the leaders of Worten and of Bright Pixel, its venture capital arm.
Investors took the news calmly: Público and Jornal de Negócios both reported a quiet reaction on the Lisbon stock exchange on Friday.
What it means for shoppers and staff
For now, nothing changes in the shops: Sonae's food retail arm, MC, runs Continente, and none of its businesses has announced any change linked to the succession. The handover is planned over six months, with the outgoing chief executive staying on as chair, which points to continuity rather than a change of course. Any shift in strategy under João Dolores is unlikely to be set out before the April 2027 general meeting.
