Brazil’s BRF says CEO to leave
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.
