In this file:
· JBS Breaks Batista Family Tradition With Tomazoni's Move to CEO
· Brazilian meatpacker JBS names new chief executive
· JBS USA expands Arizona facility recall to more than 12 million pounds of beef
· Brazil president-elect's aide faces campaign funding probe
JBS Breaks Batista Family Tradition With Tomazoni's Move to CEO
Shares jump as founding family relinquishes top post
Meat producer also names Guilherme Cavalcanti as CFO
By Gerson Freitas Jr, Bloomberg
December 5, 2018
For the first time in its 65-year history, JBS SA will be run by someone from outside the Batista family dynasty.
The world’s largest meat producer appointed Gilberto Tomazoni as its new chief executive officer, the company said late Tuesday in a filing. The executive, who’s been at the company since 2013 and last served as chief operating officer, got unanimous approval by the board. He takes over from Jose Batista Sobrinho, the 85-year-old patriarch of the billionaire Batista family, who stepped in in September 2017 after his sons Wesley and Joesley were removed from the company amid a corruption scandal that transfixed Brazil.
Tomazoni’s appointment is a notable move for the Batista family, which for the first time is choosing someone from outside the clan to run the giant meat company. When crisis struck in 2017, the family held tightly to its empire, bringing in Wesley Batista’s son and the founder of the company that bears his initials, who had long been away from day to day operations.
At the time, Tomazoni, seen as an operations guy, was appointed as COO, and some investors began speculating he might one day rise to CEO. Since then, JBS has shed assets in South America and paid down more than $2 billion in debt. The stock had gained 17 percent this year through yesterday, the most among main peers, completely erasing the losses that followed the Batista brothers’ plea deal in May 2017, when they confessed to bribing over 1,800 politicians over the years.
Markets reacted well to the news: JBS shares jumped as much as 4.9 percent on open, leading gains on Brazil’s benchmark Ibovespa index.
“Appointing a CEO from outside the family may bring the company the progress it needs, be it in image, compliance, governance,” Tomazoni said in an interview. At the same time, his years at JBS allow him to keep “everything that’s good,” according to him. His goal will be to further move JBS into the branded, value-added product segment, he said.
Tomazoni will take over immediately, according to the filing. The COO post will be eliminated, the executive said.
In a separate filing on Wednesday, JBS said it hired Guilherme Cavalcanti as its chief financial officer, also with unanimous approval from the board. The executive had been at pulp giant Fibria Celulose SA since 2012, and previously served as CFO at miner Vale SA.
Tomazoni, 60, hails from the countryside...
Brazilian meatpacker JBS names new chief executive
Andres Schipani, Financial Times
Dec 4, 2018
Brazil’s JBS, one of the world’s largest meatpackers which has been engulfed by a food safety scandal and corruption investigations, on Tuesday announced it has put Gilberto Tomazoni at the helm of the company “with immediate effect”.
Mr Tomazoni, an engineer, has spent his career in the food-processing sector, having worked at Sadia, now part of BRF, where he was CEO. He previously also served as vice-president of Bunge Alimentos.
He joined JBS five years ago as global head for the company’s poultry unit, later serving as president of global operations and global chief operating officer.
“My commitment is with our company’s reputation and the integrity of our relationships. And, through a relentless attention to transparency, governance and compliance I want JBS to become a global benchmark”, said the man who is also chairman of the board of Pilgrim’s Pride in the US, which is part of JBS.
Mr Tomazoni will replace the 85-year old José Batista Sobrinho, who took over from his son Wesley Batista last year following his arrest.
In 2018, Wesley Batista and his brother Joesley Batista, signed leniency deals admitting to corruption and were also charged by Brazilian prosecutors with insider trading. The pair stepped down from their respective roles as chairman and chief executive of the company. A month ago, Joesley was arrested again and freed soon after.
Last year a scandal broke after a tape surfaced of Joesley allegedly discussing bribes with president Michel Temer, a furore that almost brought down his government. This has also weighed on JBS, which had to divest assets to cut debt and pay fines the holding company, J&F, agreed on to settle bribery charges.
Earlier on Tuesday, Brazil’s Supreme Court said...
JBS USA expands Arizona facility recall to more than 12 million pounds of beef
Trevor Reid, The Greeley Tribune (CO)
December 4, 2018
After recalling nearly 7 million pounds of raw beef products in October related to a Salmonella outbreak, JBS Tolleson is recalling an additional 5 million pounds of raw beef that may be in consumers’ freezers.
A JBS USA facility in Tolleson, Ariz., JBS Tolleson shipped affected products to retail locations and institutions across the U.S., according to a news release from the Food Safety and Inspection Service. The recalled products were packaged from July 26 to Sept. 7 and have the establishment number “EST. 267” inside the U.S. Department of Agriculture mark of inspection.
Since the initial recall in October, the Food Safety and Inspection Service, Centers for Disease Control and Prevention and state public health and agriculture partners continued investigating an outbreak of Salmonella. According to the release, 246 cases have been confirmed in 25 states, including 50 in Colorado. An additional 16 case-patients provided receipts or shopper card numbers for the investigation, leading to three confirmed cases tracing back to JBS Tolleson, EST. 267 ground beef products that were not included in the October recall.
In November, JBS USA’s Swift Beef Co. recalled more than 99,000 pounds of raw ground beef after the Food Safety and Inspection Service found E. coli in a ground beef sample. In May, a JBS USA facility in North Carolina recalled more than 35,000 pounds of raw ground beef products that may have been contaminated with hard plastic. About three months prior, a JBS Pilgrim’s Pride facility in Texas recalled more than 100,000 pounds of ready-to-eat breaded chicken that may have been contaminated with rubber. Asked for a statement about the company’s food safety procedures, a spokeswoman emailed a link to a company statement.
“JBS Tolleson has made the cautious decision to voluntarily expand the Oct. 4, 2018, recall of products that may have been contaminated with Salmonella Newport...
Brazil president-elect's aide faces campaign funding probe
Ricardo Brito, Reuters
December 4, 2018
BRASILIA (Reuters) - Brazil’s right-wing President-elect Jair Bolsonaro, who was voted in on an anti-corruption platform, said on Tuesday he would take action if a campaign funding investigation into his future chief of staff shows wrongdoing...
... Prosecutor General Raquel Dodge has asked the Supreme Court to allow an investigation into whether Lorenzoni, a longtime federal congressman, took illegal donations from the world’s largest meatpacker, JBS SA (JBSS3.SA).
In plea bargain testimony last year, executives of JBS said they made 200,000 reais ($52,290) of payments to Lorenzoni between 2012 and 2014, according to court documents seen by Reuters.
The testimony was part of a deal with prosecutors that saw J&F Investimentos SA, the holding company that controls JBS, pay a record 10.3 billions reais fine for bribing over 1,800 politicians at all levels in Brazil in recent years.
Bolsonaro’s future justice minister, Sergio Moro, who as a judge led a massive investigation into political corruption, said on Tuesday...