Drawing attention not only in Brazil, but around the world, the fall in Americanas shares is giving plenty to talk regarding. More than that, Sergio Rial, 62 years old, also stole a little bit of the spotlight. After all, he only stayed for ten days as CEO of Americanas.
He decided to leave his position at the company following revealing a BRL 20 billion shortfall along with “accounting inconsistencies” in the company’s balance sheet. The problem would have happened in administrations prior to 2022, that is, well before Rial took over as president of Americanas.
So far there has been no confirmation of the irregularities and amounts involved, but this will be done by an independent audit. In the midst of all this confusion, many people wondered who Sérgio Rial is and that’s exactly what we’re going to talk regarding here today.
What we will see in this article:
Who is the former CEO of Americanas?
Graduated in Law from the Federal University of Rio de Janeiro and specialized in Economics from Game Filho University, Sergio Rial began his career at the Dutch bank ABN AMRO, where he worked for 18 years, staying until 2002. Afterwards, he worked at the food company Minnesota Cargill, located in the United States, serving as Executive Vice President and Chief Financial Officer.
In the second half of 2015, in mid-September 2015, he was announced to assume the position of “chairman” at Santander Brasil. Already the following year, he became the CEO of the same institution. In 2021, his salary was BRL 59 million per year.
Rial was one of those responsible for changing the bank’s operating culture. With a futuristic look, Americanas would be no different, being aimed at leading a shift in the retailer and focusing on customer experience. As stated by the company at the time, the “international experience” on his resume was a highlight for taking on the position he so desired.
What does he do besides that?
Leaving his notorious career aside, the former CEO of Americanas is known for his performances and innate leadership. For example, in 2017, according to information from Folha de S. Paulo, Rial dived with sharks at AquaRio, a marine aquarium in Rio de Janeiro, sponsored by Santander.
In the same year, during a get-together with 40,000 Santander employees, held at the Allianz Parque stadium, in São Paulo, the executive appears in a very different way: crouched down by a rope, dressed in red and white, to the sound of the classic song from the movie “Mission: Impossible”.
In some interviews, Rial commented that the unusual performances were to motivate employees. Like at the event in 2016, at a theater in São Paulo, when he talked on stage with a holographic image of him, giving him advice on how to achieve the bank’s goals.
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