Casino Seeks Brazil Chairman Ouster as Diniz Feud Heats Up
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Casino Guichard-Perrachon SA asked Abilio Diniz to step down as chairman of its Brazilian unit, Cia. Brasileira de Distribuicao Grupo Pao de Acucar SA, after the billionaire expressed interest in joining the board of one of the retailers’s top suppliers.
In a letter presented at a meeting of Pao de Acucar shareholders today in Sao Paulo, Casino said the posting would cause an “obvious conflict of interest” and “distrust” among