Alexandre Santoro, the CEO of Grupo Pão de Açúcar (GPA), has been meeting directly with key suppliers to reassure them after the retailer announced that it would enter into extrajudicial recovery to renegotiate its substantial debts amounting to R$ 4.5 billion. Santoro highlighted the importance of personal communication, stating that he spoke with over 20 major suppliers on the day of the announcement to clarify any doubts they might have regarding the situation. The move is part of GPA's broader effort to restore confidence amidst financial restructuring efforts.

Despite the financial difficulties the company is facing, Santoro emphasized that there hasn't been a history of payment delays to suppliers, and he assured them that this situation would not change. The CEO's proactive approach aims to build and maintain strong relationships with suppliers, which are crucial for the retailer's operations. The financial restructuring is primarily focused on dealing with obligations to financial creditors, particularly banks, while ensuring suppliers continue to be paid on time, which is critical for maintaining supply chain stability.

The shift towards a more hands-on leadership style comes as the company looks to stabilize its operations following changes in ownership and management earlier in the year. The new main shareholders, the Coelho Diniz family, have revamped the company's board in October, further indicating a significant overhaul in strategic direction. As the company navigates through these financial challenges, the management's communication with stakeholders will be key to GPA's long-term recovery and success in the competitive retail market in Brazil.