Brazil-based meat giant JBS said today (14 September) that Wesley Batista and his brother Joesley Batista had been reappointed to their respective posts of CEO and board chairman at the firm just hours after they were suspended from office by a court order.
JBS named interim replacements for the two men yesterday, after a court in the country ordered their temporary suspension in connection with a police probe into reported allegations of fraud at a number of Brazilian pension funds.
However, JBS said it had received correspondence from the two yesterday “informing the company that they were authorised by the federal judiciary to reassume their respective positions”.
“As described in the correspondence, this authorisation is due to an agreement signed between the shareholders of J&F Investimentos (the holding comopany behind JBS) and the federal public prosecutor, whereby J&F has provided the prosecutor an insured surety as part of the terms of the agreement,” JBS said.
Consequently, “all measures” taken against the two and J&F have been lifted by order of the 10th district court of the federal capital Brasilia, JBS said.
The JBS board reappointed Wesley Batista as CEO and vice-chairman and Joesley Batista as chairman earlier today, the company said.
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Wesley Batista said in a statement: “I thank my brother, José Batista Júnior, for having temporarily assumed the presidency of JBS and I also thank all our shareholders and other stakeholders for the trust they place in us. I will continue working with the global and regional leadership teams towards the consolidation of JBS as a global leader in the food sector.”