José Batista back in JBS president role

By Aidan Fortune

- Last updated on GMT

José Batista Sobrinho has been named president of JBS
José Batista Sobrinho has been named president of JBS

Related tags Corporate governance

The board of directors of Brazilian processor JBS has unanimously elected José Batista Sobrinho, founder of JBS, as its president. 

Batista Sobrinho will complete the current term of office for the position of president.

This comes as Wesley and Joesley Batista, formerly chief executive and chairman respectively, were arrested on suspicion of insider trading by Brazilian police​.

José Batista Sobrinho was the first president of JBS, a company he founded in 1953. He has been a member of the board of directors for more than 10 years.

Other key appointments include a new Global Leadership Team that is responsible for providing advice and counsel to the president.

The Global Leadership Team is comprised of three senior JBS executives: Gilberto Tomazoni, André Nogueira and Wesley Batista Filho, who currently manage JBS’ main business areas and will continue to fulfil their current roles and responsibilities.

“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,”​ said Tarek Farahat, chairman of the board of directors at JBS. “The new global leadership structure provides continuity and prepares the company for new opportunities ahead.”

The board of directors also agreed to identify and select a chief financial officer. “The selection of a new CFO will be an important step in strengthening the company’s governance,”​ said Farahat.

Batista said: “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.”

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