BRAZIL: Tycoon Diniz slated for Brasil Foods board seat

By Dean Best | 22 February 2013

Brazilian tycoon Abilio Diniz, the chairman of the CBD, the country's largest retailer, has been lined up for a seat on the board of local food group Brasil Foods.

Diniz, who hit in the international industry headlines in 2011 over his spat with French retailer Casino over ownership of CBD, will be put forward for election in April.

Brasil Foods confirmed its plans for Diniz to have a seat on its board yesterday (21 February).

A day earlier, reports emerged Casino had asked Diniz to resign his position as chairman of CBD should he join the board of another Brazilian company. Diniz reportedly said there was no law preventing him sitting on the board of two Brazilian companies.

Diniz kept his position as chairman of CBD, also known by its trading name of Grupo Pao de Acucar, even after his conflict with Casino over the ownership of the Brazilian retailer two years ago.

Diniz and Casino jointly ran CBD from 2005 until last year. The original deal between the two sides allowed Casino to take control of CBD in 2012 but, a year earlier, Diniz tried to merge CBD with Carrefour's Brazilian unit - without informing his French partner. The plan ultimately failed and Casino became CBD's sole controlling shareholder last June.

Sectors: Dairy, Emerging markets, Meat & poultry

Companies: Brasil Foods, CBD, Casino, Carrefour

View next/previous articles

Currently reading -

BRAZIL: Tycoon Diniz slated for Brasil Foods board seat

There are currently no comments on this article

Be the first to comment on this article

Related research

Groupe Casino in Colombia: Local Profile

This is a detailed report covering Groupe Casino’s store formats, private labels, history, key employees, and key financial and operational metrics in Colombia. Introduction and Landscape Why was the report written? This is a comprehensive report ...

Casino Guichard-Perrachon SA in Retailing (France)

Casino Guichard-Perrachon SA had already concentrated its activity on small formats, and it will continue this strategy with further investment in chains like Chez Jean or Le Marché à Côté. As for other sources of growth, Casino Guichard-Perrachon co...

Casino Guichard-Perrachon SA in Retailing (Vietnam)

Over the forecast period, Casino Guichard-Perrachon aims to become the leading player in grocery retailing in Vietnam by continuously expanding its outlet network and expanding into new areas in many provinces across the country. The company will als...

Related articles

BRAZIL: BRF appoints Galeazzi as chief executive

Brazilian food group BRF has appointed Claudio Galeazzi as its new CEO.

BRAZIL: H1 earnings soar at food group BRF

Brazilian food group BRF saw its earnings soar in the first half of the year as the Brazilian poultry exporter benefited from higher sales and an easing of cost increases.

FRANCE: Casino expansion offsets weak LFL sales in France

Casino has booked higher half-year profits helped by a jump in international earnings but the French grocer's numbers also revealed continued challenges at home.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page