Former financial director of Americanas (AMER3) fails to testify at CVM

The crisis in Americanas erupted earlier this year, with the revelation of an accounting shortfall of around 20 billion reais (Image: Gustavo Minas/Bloomberg)

Former CFO of Americans (AMER3) Carlos Eduardo Padilha did not appear to provide clarification to the Securities and Exchange Commission (CVM) on the date set by the municipality, said sources familiar with the matter this Friday.

Padilha’s hearing was scheduled for March 16, but he did not attend, sources said. The executive’s defense claimed to have a hearing on the same date in the Superior Court of Justice (STJ)in Brasilia, and requested that the deposition be rescheduled, the sources said.

The executive was elected to the retailer’s financial area at the end of 2017, before the merger of Lojas Americanas with B2W, and held the position until mid-2021.

“Padilha is fully available to the CVM or any other authorities to provide any clarification that may be necessary,” said Bruno Calfat, Padilha’s lawyer, to Reuters.

The crisis at Americanas broke out at the beginning of this year, with the revelation of an accounting deficit of around 20 billion reais, which led the company to enter into judicial recovery. It is not clear, however, when these inconsistencies date.

Padilha’s absence was reported earlier this Friday by the newspaper O Globo.

Former presidents of Americanas, Miguel Gutierrez and Sergio Rial have already given testimony about the case.

Source: Moneytimes

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