JBS board of directors elects José Batista Sobrinho as global president
The board of directors of Brazilian processor JBS has unanimously elected José Batista Sobrinho, founder of JBS, as its president, a week after the arrest of his sons, former JBS chief executive Wesley Batista, and former chairman of the company Joesley Batista, amid allegations of insider trading.
José Batista Sobrinho founded JBS in 1953 and was also its first president; he has been a member of the board of directors for more than ten years.
The board also established a Global Leadership Team, responsible for providing advice and counsel to the president, comprising three senior JBS executives, including Gilberto Tomazoni, André Nogueira and Wesley Batista Filho (Wesley Batista’s son), who currently manage JBS’s main business areas and will continue to fulfil their current roles and responsibilities.
Wesley Batista Filho currently leads the beef division of JBS USA, while Tomazoni is global president of operations and Nogueira, current president of JBS USA, has been with the company since 2007.
José Batista Sobrinho commented: “I am proud to resume leadership of the company we successfully established in 1953.
“I have complete confidence in the performance of our leadership, our management team and in our 235,000 employees worldwide who have made JBS the success it is today.”
The board of directors has also appointed Aguinaldo Gomes Ramos Filho to replace Wesley Batista as member of the board.
Tarek Farahat, chairman of the board of directors of JBS, added: “At this important moment for the company, the highest priority defined by the Board of Directors is to ensure the continued success of the business and the prosperity of employees, shareholders and all stakeholders.”
JBS’s shares have suffered a loss of R$955 million (US$304 million) in market value, following the announcement, according to media reports.
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