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Ex-CEO of Brazil s Americanas Says He Did Not Expect to Lead Bankrupt Firm
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Ex-CEO of Brazil s Americanas says he did not expect to lead bankrupt firm
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Former Chief Executive Sergio Rial, who testified in a congressional investigation, resigned on Jan. 11, the same day Americanas revealed accounting inconsistencies that were later found to be fraud. Rial, formerly chief executive and chairman at bank Santander Brasil, said he had not seen any evidence Americanas' reference shareholders - the billionaire trio that founded 3G Capital - had participated in the fraud. Rial in March testified before senators saying Americanas' previous management had created difficulties in disclosing information about the company's situation and the succession process.
Ex-CEO of Brazil s Americanas says he did not expect to lead bankrupt firm
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