JBS names new chairman, announces creation of governance committee

Joesley Batista, chairman of JBS SA, and his brother, CEO Wesley Batista, have resigned their positions. JBS SA announced over the weekend that Tarek Farahat was unanimously elected chairman to replace Batista. In the same meeting, Jose Batista Sobrinho was elected vice chairman of the board. JBS SA also announced the creation of a Governance Committee, led by Farahat, whose main objective will be to implement global best practices in corporate governance and compliance at JBS. This comes after the brothers were embroiled in a bribery scandal involving Brazil’s president that could also cost the company billions in fines. Read more at Drovers CattleNetwork…