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Brazil’s BRF says CEO to leave

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Oscar Rousseau

By Oscar Rousseau+

Last updated on 05-Sep-2017 at 13:44 GMT2017-09-05T13:44:48Z

In little over a month, BRF confirmed the exit of both its CEO and vice-president
In little over a month, BRF confirmed the exit of both its CEO and vice-president

Pedro de Andrade Faria will step down this year as CEO of the one of the world’s biggest meat processors, Brazil-based BRF, in the wake of financial losses and a food safety sting.

The hunt for Faria’s successor is already underway and BRF hopes to have a new leader by the start of 2017, the company confirmed in a statement earlier this month.

Faria will remain CEO until 31 December 2017 and will play a key role in not only finding his replacement, but also assisting with the transition to new management.

Rotten meat backlash

The company did not give a reason for his departure. However, the exit follows a tumultuous year for BRF that has been punctuated by heavy quarterly losses linked to the fallout from the rotten meat scandal that has tarnished Brazil’s global reputation.

The company posted a R$167 million ($53m) loss in its second quarter results covering April to June 2017.

Confirmation of the departure of Faria comes just a month after the company’s vice-president, José Roberto , resigned following what the company called a “criminal proceeding” against him.

It means the top brass at one of Brazil’s big three meat processors could look markedly different by the start of 2018.

BRF, founded in 1934, claims to be one of the biggest food companies the world, with over 100,000 staff and 30 food brands, helping to generate billions of dollars in annual revenue.

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1 comment

Somewhat expected

The plumeting performance the company had to deal with recently, in the amidst of the market and domestic crisis, is pretty expectable when a company has financists, and not real professionals and startegists, at the top position. What a person like the current CEO with less than 38 years of age, and ZERO experience - repeating ZERO experience - in the meat/commodity industry could come up with? Nothing but the results that have been seen this year!

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Posted by Fabio Nunes
05 September 2017 | 15h082017-09-05T15:08:49Z

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