Minority shareholders protest against 3G billionaires at Americanas meeting Despite the prevailing tension, the retailer's judicial reorganization was confirmed and Carlos Alberto Sicupira remains on the board Redação Men in suits and ties Description automatically generatedPhoto: 3G Capital In a meeting marked by protests from minority shareholders against 3G billionaires, the shareholders of the Americanas group ratified the company's judicial reorganization, with which it intends to pay off a debt of more than R$40 billion. The company's crisis began in January, following the discovery of a R$20 billion hole in its accounts. This is also why the 2022 financial statements were not considered at Saturday's meeting. Playvolume00:00/00:00TruvidfullScreen The General Meeting also kept Carlos Alberto Sicupira, the 3G executive responsible for Americanas, on the board. He, Jorge Paulo Lemann and Marcel Telles are the retailer's main shareholders and are at the forefront of the formatting of the Judicial Recovery. The meeting was attended by representatives of the retailer's former directors Anna Christina Ramos Saicali and José Timotheo de Barros, who were dismissed after the accounting scandal, but who own shares in the company. Americanas' CEO, Leonardo Coelho, and CFO, Camille Faria, were also present. The shareholders also elected the members of the board of directors until 2024, keeping nominees from the reference shareholders. In addition to Sicupira, Paulo Alberto Lemann (son of Jorge Lemann), Sidney Breyer, Vanessa Claro Lopes, Claudio Barreto Garcia and Eduardo Saggioro Garcia were re-elected. The EWZ and Bonsucex funds, together with shareholder Silvio Tini, elected Pierre Moreau, a lawyer specializing in arbitration and an advisor to MASP, to the board of directors. Mauro Muratório Not was left out of the board's original proposal. A moment of confrontation between the reference shareholders - who hold 30% of the voting capital - and the minority shareholders took place on the Supervisory Board. The minority shareholders nominated the lawyer Luiz Nelson Porto Araújo and the 3 G trio supported the accountant Elias de Matos Brito, who was elected. "We no longer believe in real solutions for the minority shareholders, as well as a serious response from the Public Prosecutor's Office and the criminal justice system," said Daniel Gerbero, one of the minority shareholders' lawyers. In a statement, Americanas said that "the meetings were conducted in strict compliance with the Brazilian Corporate Law". Sources: UOL and Infomoney