Brazilian pasta and biscuits maker M. Dias Branco has created an internal investigation committee after being targeted by the country’s federal police.
The company’s headquarters in Sao Paolo was raided by police last week in connection with an ongoing corruption probe involving senior politicians in the country.
On Thursday (19 April) M. Dias Branco’s board approved the establishment of an investigative committee made up of Leonardo Pereira, former president of the country’s Securities and Exchange Commission (CVM), economist Alfonso Pastore and financial executive Fernando Iunes.
Iunes was only added to the company’s board last week as an independent director, alongside Guilherme Rodolfo Lagger.
The company’s vice president of investments and controllership, Geraldo Luciano Mattos Júnior, said the move would strengthen the corporate governance of M. Dias Branco.
“The experience of independent directors and their international experience make an invaluable contribution to strengthening the company,” he said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
M. Dias Branco owns brands including Vitarella biscuits and Fortaleza pasta.