Americanas SA One-day Decline, the Largest in Recent Memory in the Ibovespa

The CEO and CFO of Americanas SA resigned on Jan 11th due to Accounting inconsistencies at the company.

The stock posted the largest one-day decline of any of the 89 companies currently in the Ibovespa index in at least 20 years. AI-based ESG analytics picked up the drama as it happened.

Hiring new CEO Sergio Rial (formerly CEO of Santander Brazil) on August 20, 2022 was a good public relations move for Americanas.

The company’s ESG Management score (our real-time ESG metric, green line) jumped after the announcement in the chart below (stock price is blue bars).

Then on Jan 11th, 2023 (shortly after assuming his new job on Jan 1st) he reported accounting irregularities, causing both the drop in our Management score (in the final days of the chart) and the departure of the new CEO.