Brazil’s Americanas Appoints New CEO as Part of Bankruptcy Restructuring Process

Leonardo Coelho Pereira took over on Wednesday, replacing interim head João Guerra, who had been in charge since the resignation of Sergio Rial on January 11

Leonardo Pereira has been appointed as the new CEO of Americanas, replacing interim João Guerra (Photographer: Gustavo Minas/Bloomberg)
By Bloomberg Línea
February 15, 2023 | 08:06 PM

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Bloomberg Línea — A little over a month after Sergio Rial’s resignation as CEO of beleaguered Brazilian retail giant Americanas (AMER3) amid the company’s biggest crisis in its history, Leonardo Coelho Pereira has been named the new CEO, the company announced in a material fact to the market on Wednesday.

Pereira has been a partner at Alvarez & Marsal since 2011, a consultancy specializing in business restructuring, and which is advising Americanas on its restructuring process.

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He will replace the current interim CEO João Guerra, who will return to the position he already held as director of human resources at the retailer.

“Leonardo Coelho Pereira is an executive with solid and successful experiences in companies in the retail sector, as well as in the restructuring consulting environment, having held leadership positions in dominant companies in their segments,” Americanas said in its statement to the market.

Americanas filed for bankruptcy on January 11 after discovering a $4-billion shortfall in its accounts.

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