Brazilian meatpacker JBS names new chief executive
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Brazil’s JBS, one of the world’s largest meatpackers which has been engulfed by a food safety scandal and corruption investigations, on Tuesday announced it has put Gilberto Tomazoni at the helm of the company “with immediate effect”.
Mr Tomazoni, an engineer, has spent his career in the food-processing sector, having worked at Sadia, now part of BRF, where he was CEO. He previously also served as vice-president of Bunge Alimentos.
He joined JBS five years ago as global head for the company’s poultry unit, later serving as president of global operations and global chief operating officer.
“My commitment is with our company’s reputation and the integrity of our relationships. And, through a relentless attention to transparency, governance and compliance I want JBS to become a global benchmark”, said the man who is also chairman of the board of Pilgrim’s Pride in the US, which is part of JBS.
Mr Tomazoni will replace the 85-year old José Batista Sobrinho, who took over from his son Wesley Batista last year following his arrest.
In 2018, Wesley Batista and his brother Joesley Batista, signed leniency deals admitting to corruption and were also charged by Brazilian prosecutors with insider trading. The pair stepped down from their respective roles as chairman and chief executive of the company. A month ago, Joesley was arrested again and freed soon after.
Last year a scandal broke after a tape surfaced of Joesley allegedly discussing bribes with president Michel Temer, a furore that almost brought down his government. This has also weighed on JBS, which had to divest assets to cut debt and pay fines the holding company, J&F, agreed on to settle bribery charges.
Earlier on Tuesday, Brazil’s Supreme Court said it will investigate allegations that Onyx Lorenzoni, the incoming chief of staff for the country’s far-right president-elect, Jair Bolsonaro, took “illegal campaign contributions” from J&F after executives admitted bribing more than 1,800 politicians over several years.
Comments