March 6, 2020 |
Brazilian reinsurance company IRB Brasil Re watched its shares slump another 16.2% on Thursday after a turbulent month led to billions of reais wiped off the value of the company and the resignations of the chairman, CEO and CFO within the space of a week.
IRB's shares closed trading at BRL15.97 ($3.47) on Thursday, representing a two-thirds decline from a peak of BRL44.90 on January 22.
The latest fall came after the company announced on Wednesday that CEO José Carlos Cardoso and CFO Fernando P
Shares drop 16% after CEO and CFO resign in wake of false report on Berkshire Hathaway investment