CHILE – Horst Paulmann Kemna, founder of Cencosud, passed away at 89 on March 11, 2025, in Germany, peacefully in his sleep.

His family shared, “We find comfort in knowing he rested without suffering, but his absence leaves a great void in our hearts.”

Born in Kassel, Germany, Paulmann started with a small business in Temuco, Chile, and went on to build Cencosud into a retail giant in Latin America. The company praised his leadership, vision, and commitment to service and job creation, transforming the retail industry.

Cencosud expanded to Argentina, Brazil, Peru, Colombia, and the U.S., with iconic projects like the Costanera Center. In 2004, Cencosud went public, continuing its growth despite financial challenges.

In 2021, Paulmann handed over the presidency to his daughter, Heike, but remained honorary president. His fortune was estimated at USD 5.5 billion, and Cencosud remains a global retail leader.