World's biggest meatpacker JBS names founder as new CEO

The board of JBS SA voted to name company founder Jose Batista as chief executive, the world’s largest meatpacker said on Sunday, after his son Wesley was jailed by Brazil’s federal police on allegations of insider trading. Police investigated the role played by Wesley, 47, and his younger brother Joesley in suspected insider trading ahead of a plea bargain deal with prosecutors. Reuters reports the Batista family has denied all allegations of wrongdoing. Read more…