JBS gives top job to senior US politician

By Oscar Rousseau contact

- Last updated on GMT

John Boehner served as 53rd speaker of the House of Representatives
John Boehner served as 53rd speaker of the House of Representatives

Related tags: Stock

Brazilian meatpacker JBS SA has appointed a number of high-level independent board members to its subsidiary JBS Foods International, with former House of Representatives speaker John Boehner among them.

In total JBS has made five new appointments to its board of directors for JBS Foods International (JBSFI). The board members will start their roles after JBSFI floats on the New York Stock Exchange.

A date has not been set for the stock market float, but the appointment of five board members, with John Boehner the most notable, shows the move is gathering pace.

During his time in the US congress, Boehner retained a number of important roles, including vice-chair of the Agriculture Committee and chair of the House Education Committee. Serving at the highest level of US government landed Boehner a board member position at tobacco giant Reynolds American, where he reportedly nets $400,000 per year.

Leadership experience

The other four appointments include Greg Heckman, Charles Macaluso, Steven Mills and Dimitri Panayotopoulos.

Heckman has more than 30 years’ experience in the food industry, with 24 years at ConAgra Foods. He also served as CEO of the ConAgra​ spin-off Gavilon Group.

Charles Macaluso is a director of management consultancy Dorchester Capital Advisors and serves on the board of Pilgrim’s Pride, another JBS subsidiary.

Steven Mills has over 40 years’ experience in accountancy, corporate finance and mergers and acquisitions, having spent many years at Archer Daniels Midland, a US giant in ingredients, food processing and commodities.

Dimitri Panayotopoulos has spent 37 years at Procter & Gamble, where he is now vice-chairman of the company’s board of directors. He is also a board member of British American Tobacco.

JBS’ new subsidiary​, JBSFI, will be responsible for all operations outside Brazil, which includes the US and booming Australia​ businesses. A data for the initial public offering float has not been set, but JBS hopes to float its subsidiary on the New York Stock Exchange in the first half of 2017.

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1 comment

Managing Executive Officer, Regional CEO for China, Marubeni Corporation

Posted by Keizo Torii,

We will be able to do some more business with JBS as Marubeni put more human and monetary resources on the meat business worldwide.

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