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JBS board appoints founder Batista as CEO

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Over the weekend, the JBS S.A. board of directors unanimously approved the appointment founder Jose Batista Sobrinho as the new chief executive officer, following last week’s arrest of his son and former CEO Welsey Batista.

Batista Sobrinho will serve until the end of Wesley’s term in May 2019 and will be advised by JBS executives Gilberto Tomazoni, JBS’s global head of operations; Andre Nogueira, CEO of JBS USA, and Wesley Batista Filho, Wesley’s son and the head of the JBS USA beef division.

Last week, Wesley was arrested for alleged insider trading that occurred just prior to the company signing a plea bargain agreement back in May. An arrest warrant was also issued for his brother Joesley, but he had already been taken into custody earlier in the week for a separate allegation.

Aguinaldo Ramos Filho, another member of the Batista family, was chosen to replace Wesley’s role on the company board.

In a regulatory filing announcing the new appointments, JBS chairman Tarek Farahat said the company is also currently searching for a chief financial officer.

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