Diniz's father, Valentim Diniz, founded the company Pão de Açúcar, which grew into a major retailer, Companhia Brasileira de Distribuiçao.
In April 2015, Diniz announced he was wrapping up talks to raise his 5.07 percent stake in Carrefour and that he had shareholder support to take a seat on the board of the supermarket [REF].