Sergio Rial and Andr Covre had been sworn in on January 2 and had been in office for less than ten days
Americanas SA informed its shareholders and the market that it detected an accounting inconsistency of R$ 20 billion. The announcement was made through a material fact published this Wednesday (11).
In addition to the billionaire gap, the retailer also announced the resignations of the company’s CEO, Sergio Rial, and CFO, André Covre. Both executives had been sworn in on January 2nd and had been in office for less than ten days.
According to Americanas, it is still not possible to determine all the impacts of the inconsistencies on the income statement and on the company’s balance sheet. The retailer also informed that the estimates are still subject to confirmations and adjustments, depending on the conclusion of the verification of the facts and the opinions of independent auditors.
With the resignations, the company temporarily appointed executive João Guerra to perform both functions. According to Americanas, Guerra has “an extensive career at the company in the areas of technology and human resources, and has not previously been involved in accounting or financial management”.
In the material fact, Americanas undertook to create an independent committee to investigate the “circumstances that caused the said accounting inconsistencies”.
See the relevant fact in full:
