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Brazil's ViaVarejo CEO quits, cites Pão de Açúcar meddling-letter
May 23, 2013 / 4:26 PM / 4 years ago

Brazil's ViaVarejo CEO quits, cites Pão de Açúcar meddling-letter

SAO PAULO, May 23 (Reuters) - The former chief executive of Brazilian appliance and furniture retailer ViaVarejo said on Thursday he quit because of strategic differences with executives of the controlling Grupo Pão de Açúcar, according to his resignation letter that Reuters obtained.

Antonio Ramatis Rodrigues took the helm at ViaVarejo just six months ago, leaving a post at Pão de Açúcar. ViaVarejo announced his departure in a securities filing earlier on Thursday, without giving a reason. A spokeswoman for Pão de Açúcar could not be reached for comment.

Rodrigues did not give details of the strategic differences with Pão de Açúcar executives who interfered with his work. He said in the letter his decision to quit was influenced by what he called unfair treatment under the company’s stock option plan.

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