Latin American Economy & Business - November 2016 (ISSN 1741-7430)

Tough at the top in Brazil. According to a report by the Bloomberg news agency, the Brazilian recession is taking its toll on chief executives. At least 40 of the CEOs of 110 Brazil-based companies with assets of US$1bn or more have been replaced over the last two years, the report said. “Periods of crisis tend to drive up the exits of C-levels. This was intensified this year by a series of events in which you have a serious conflict between the interest of the company and the ones of shareholders and boards”, said Adeopato Volpi Netto, head of capital markets at Eleven Financial Research.