Brazil's JBS names founder Jose Batista Sobrinho as new president

José Batista Sobrinho

José Batista Sobrinho

The decision by the Batista family to tap patriarch José Batista Sobrinho as JBS's chief executive officer in the early hours of Sunday was "an act of bad faith", said Paulo Rabello de Castro, president of state development bank BNDES. The Batista family owns 42% of JBS.

The board of directors also announced in a statement yesterday (17 September) the creation of a three-member "global leadership team" to advise the president, consisting of Gilberto Tomazoni, André Nogueira and Wesley Batista Filho. The team includes Gilberto Tomazoni, global president of operations; André Nogueira, president of JBS USA; and Wesley Batista Filho, who now leads the beef division of JBS USA.

Last week, Wesley was arrested for alleged insider trading that occurred just prior to the company signing a plea bargain agreement back in May. One of the main leaders of JBS, Tomazoni is responsible for all the company's operations worldwide. Before his current role as president of JBS USA, he served as CFO of JBS USA and CEO of JBS Australia. The board also appointed Aguinaldo Gomes Ramos Filho, an executive with experience in the operations of JBS in Brazil, Uruguay, and Paraguay, to replace Wesley Batista as a board member. "The new global leadership structure provides continuity and prepares the company for new opportunities ahead".

Wesley Batista's arrest came days after Joesley Batista surrendered to legal authorities after the Brazilian Supreme Court approved a warrant for his arrest on charges he reneged on the terms of the same plea deal.

Stock prices for JBS have fallen 4.4% since the announcement in leadership change was made with prices going to 8.46 real.

Notícias recomendadas

  • Samsung finally lets users disable dedicated Bixby button in new update

    Samsung finally lets users disable dedicated Bixby button in new update

    With Bixby being one of the highlight features of Samsung's latest devices, many users have had a love-hate relationship with it. If your phone's software is up to date, you'll spot the toggle to turn off the feature at the top of the Bixby homepage.
    Beshear Joins Bipartisan Effort Urging Insurers To Help With Opioid Crisis

    Beshear Joins Bipartisan Effort Urging Insurers To Help With Opioid Crisis

    Beshear said that the coalition wants health insurers to avoid contributing unintentionally to the deadly problem. They asked insurers to make coverage of non-opioid treatments such as physical therapy and massage a priority.
    One of Sindiso Magaqa's assassins identified, second suspect still at large

    One of Sindiso Magaqa's assassins identified, second suspect still at large

    Jabulani Mdunge, 38, was allegedly one of 10 armed robbers who were involved in a shootout with police earlier this month. Three of the alleged robbers were shot and killed while the other seven were arrested.
  • Malaysian beer festival canned after Muslim uproar

    Malaysian beer festival canned after Muslim uproar

    Kuala Lumpur City Hall confirmed the cancellation and said legal action could be taken if it went ahead. This would have been the third time the event was held in Kuala Lumpur.
    Pentagon to Release Decision on Transgender Troops by February

    Pentagon to Release Decision on Transgender Troops by February

    For now, Mattis has ensured transgender servicemembers will not be dismissed from service simply due to their gender identity. McCain, committee ranking member (D-R.I.), committee member (D-N.Y.) and Sen.
    Netflix's location scout killed in Mexico

    Netflix's location scout killed in Mexico

    He told the El Pais newspaper: 'Maybe they thought he was collecting information and they started tracking him in a auto '. Portal was in the unsafe rural area scouting locations for the fourth season of Netflix's real life-inspired crime series.
  • Sprint's Free iPhone Trade In Offer Not As Great As Last Year

    Sprint's Free iPhone Trade In Offer Not As Great As Last Year

    So you see more and scroll less, and won't have a problem gripping the phone comfortably as its girth remains slender. As for storage you will get 64GB, for your files, but there is a microSD card slot if you want more storage.
    Ronald Koeman offers stern responds to Jose Mourinho's 'unrealistic' comments about Everton

    Ronald Koeman offers stern responds to Jose Mourinho's 'unrealistic' comments about Everton

    Elsewhere, in London two cross town rivals, current holders Chelsea and Arsenal fought out a frustrating goalless derby draw. However, they won both the League Cup and Europa League under Mourinho last term.

    Lloyds Banking Group PLC

    Societe Generale reiterated a buy rating on shares of Lloyds Banking Group PLC in a research note on Monday, September 11th. Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom.
  • United Nations  chief, Trump call for change of United Nations  bureaucracy

    United Nations chief, Trump call for change of United Nations bureaucracy

    Trump has appointed to his cabinet. "He will urge all states to come together to address grave dangers that threaten us all". Haley arrived at the 193-member world body in January pledging to "take names" of allies who did not have Washington's back.
    Seattle rally supports Bennett, Kaepernick before Seahawks-49ers

    Seattle rally supports Bennett, Kaepernick before Seahawks-49ers

    It's always good to have your family support you and also a lot of people in the city to supporting me". Bennett's raised fist, however, is the first instance of a player seeming to protest during a game.
    Aldi are selling a three-litre bottle of Prosecco this Christmas

    Aldi are selling a three-litre bottle of Prosecco this Christmas

    The Prosecco Jeroboam DOCG will be available in stores and online from 14th November and set shoppers back just £40. It apparently equates to around 24 glasses, and is approximately four times the capacity of a standard wine bottle.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.