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JBS appoints Tarek Farahat as chairman

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Oscar Rousseau

By Oscar Rousseau+

30-May-2017
Last updated on 30-May-2017 at 13:36 GMT2017-05-30T13:36:41Z

New JBS chairman Tarek Farahat said he wanted to 'restore trust' in the company
New JBS chairman Tarek Farahat said he wanted to 'restore trust' in the company

Beleaguered Brazilian meatpacker JBS has appointed the former Procter & Gamble chief Tarek Farahat as its new chairman of the board.

The meat processor appointed Farahat after previous incumbent Joesley Batista resigned.

No reason was given by JBS for the billionaire Batista brother’s resignation. However, there is speculation that it may be linked to a secret recording made by Joesley Batista that allegedly captured Brazil President Michel Temer condoning the bribing of another government official. This recording has put massive pressure on JBS and President Temer , who is facing a Supreme Court investigation into his conduct.

Farahat will lead the new JBS governance committee, tasked to implement best practice, with the company reeling from a string of corruption allegations.

‘Restore trust’

Governance is my utmost priority,” said Farahat in a statement.

We will work hard to restore trust with the market and protect the more than 235,000 families that are part of JBS. There is a significant amount of work to be done in order to regain the trust of our stakeholders.

We remain focused on offering consumers the highest-quality products and services, while maintaining a close partnership with our suppliers and clients, and supporting our more than 235,000 team members worldwide.

Farahat has been a member of the JBS board of directors since 2013 and has served as global president of marketing and innovation since 2015.

He is a former grandee of consumer goods corporation Procter & Gamble (P&G), where he served in a number of senior positions in his 26-year tenure. From 2006 to 2012, he was president of P&G in Brazil, subsequently becoming president of P&G Latin America.

In the same board meeting, another Batista brother was unanimously elected vice-chairman of the board: José Batista Sobrinho.

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