US: Swift boss to leave upon completion of sale
A leading executive at Latin America's largest beef processor JBS will take the top job at Swift & Co. when the Brazilian firm seals the acquisition of the US meat group.
Wesley Mendonça Batista, executive director of operations at JBS, will become Swift's president and CEO, replacing Sam Rovit, who has been at the helm for two years.
Last month, US private equity group HM Capital sold Swift to J&F Participações, which owns a majority stake in JBS, for US$225m.
The future of Swift had become the subject of speculation after the company's owners announced a strategic review of the business in January after a run of poor financial results.
Rovit said he was "very proud" of the company's achievements during his tenure, pointing to a "dramatic improvement" in its US beef business.
For his part, Batista said he was grateful for Rovit's leadership during a "very challenging time" for Swift and the beef industry. He added: I look forward to bringing the JBS and Swift teams together to grow Swift into an even stronger company."
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