Brazilian lender Santander’s Chairman Rial resigns

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FILE PHOTO: Santander Brasil SA's chief executive officer, Sergio Rial speaks during an interview with Reuters in Sao Paulo

SAO PAULO (Reuters) – Brazilian lender Santander Brasil SA said on Friday its chairman and former chief executive, Sergio Rial, is resigning from his position at the firm.

The resignation comes just days after Rial quit his short-lived job as chief executive of retailer Americanas SA after finding accounting “inconsistencies” that led the company to file for bankruptcy protection.

Rial was Santander Brasil’s CEO for six years, as well as the bank’s regional head for South America, before transitioning to board chairman in early 2022.

He is also chairman of the board at fuel distributor Vibra Energia SA, vice chair at BRF SA and a board member at Delta Air Lines.


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The executive “presented his resignation as a member of the board of directors and as a member of the advisory committees of the board,” the Brazilian unit of Spain’s Santander said in a securities filing.

Rial will be replaced on an interim basis by his vice chair, Deborah Stern Vieitas, until the bank’s next general meeting on April 28.

(Reporting by Peter Frontini; Editing by Josie Kao)

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