The name João Guerra Duarte Neto was announced today by the company’s board of directors. The selection was made at a meeting last Wednesday.
According to a statement from Americanas, he will also serve as an investor relations officer.
Americanas also says that Duarte Neto is currently the (non-statutory) director of human resources and “has an extensive track in the company in the areas of technology and human resources.”
Change occurs in the company in the midst of a crisis caused by contradictions in Fiscal budgets that showed a deficit of R$20 billion.
Americana on Friday won a court order that protects it for 30 days against early maturity of the debt, a period the retailer can use to reach an agreement with creditors or seek judicial recovery. The court’s decision stated a Possible debt of R$40 billion.
In the wake of these events, Americana shares fell again today. At about 11:30 a.m., the company’s shares were down more than 40%.
Understanding the American Crisis
- On Wednesday, the company announced “discrepancies” of R$20 billion on its balance sheet.
- On Friday, Judge Paulo Acid Estefan of Rio’s Fourth Business Court granted an urgent precautionary measure, giving the company 30 days to decide whether to order judicial recovery;
- In the decision, the judge informed that Americana alleged the risk of its creditors requesting early maturity of the debt of R$40 billion;
- To avoid bankruptcy of the company, the judge stopped this possibility for 30 days.
According to the bank’s attorney, the injunction unlawfully sets aside payments made by Americana to BTG.
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