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CVM - 1 Sergio Rial - 1 Joao Guerra - 1 Rial - 1 Guerra - 1 Americanas - 1 Andre Romani - 1 Carolina Pulice - 1
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☆ Ex-CEOs at Brazil's Americanas did not make proper accounting disclosures - regulator
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +1 min
SAO PAULO, June 5 (Reuters) - Brazil's securities regulator has accused two former CEOs of retailer Americanas of failing to comply with information disclosure requirements following an investigation into the firm's accounting inconsistencies, the agency said. According to a document from securities regulator CVM made public on Monday, the two ex-CEOs, Sergio Rial and Joao Guerra, also failed to meet other obligations on informing investors. Americanas entered bankruptcy protection in January after uncovering around $4 billion in accounting inconsistencies. Americanas said in a statement that it was monitoring the CVM investigation and hoped any irregularities would be "duly clarified". The company did not mention the accusations against Guerra in its statement and he did not respond to a query via LinkedIn.
Persons: CVM, Sergio Rial, Joao Guerra, Rial, Guerra, Americanas, Andre Romani, Carolina Pulice, Jamie Freed Organizations: SAO PAULO, Thomson
☆ Brazil's Americanas CEO, CFO resign as $3.88 bln accounting inconsistencies discovered
  + stars: | 2023-01-12 | by ( Peter Frontini Carolina Pulice | Peter Frontini | Carolina Pulice | ) www.reuters.com   time to read: +3 min
SAO PAULO/MEXICO CITY, Jan 11 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) said on Wednesday its chief executive and chief financial officer resigned after the discovery of around 20 billion reais ($3.88 billion) in accounting "inconsistencies." Lojas Americanas CEO Sergio Rial departed less than two weeks after taking the job, when he replaced Miguel Gutierrez. Joao Guerra, a long-time Americanas executive not involved with accounting or financial management, will take over as CEO on an interim basis. The amount of accounting inconsistencies is larger than the company´s net equity, 15 billion reais, said Fabrício Gonçalvez, CEO at Box Asset Management. The amount is also almost twice Americanas' 10.7 billion reais market capitalization, according to Refinitiv data.
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