JBS SA has reported that Wesley and Joesley Batista have been cleared to resume their positions at JBS SA. Wesley, CEO, and Joesley, chairman, had been suspended by their positions last week by the Brazilian courts as part of a fraud investigation that included J&F Investimentos and Eldorado Celulose. Those companies are owned by the same holding company that controls the beef processor.
JBS SA issued a statement that reads, “JBS S.A. informs its shareholders and the market in general that, consistent with the Material Fact published yesterday, September 13, 2016, the company received correspondence from Mr. Wesley Mendonça Batista and Mr. Joesley Mendonça Batista informing the company that they were authorized by the Federal Judiciary to reassume their respective positions.
“As described in the correspondence, this authorization is due to an agreement signed between the shareholders of J&F Investimentos and the Federal Public Prosecutor, whereby J&F has provided the Prosecutor an insured surety as part of the terms of the agreement. The 10th district court of the Federal Capital – Brasilia approved the agreement, and, consequently, all measures against J&F Investimentos, Wesley Batista and Joesley Batista were lifted. Thus, the Board of Directors of JBS decided, in a meeting held today, to reappoint Wesley Batista as CEO and Vice-Chairman of the Board and Joesley Batista as Chairman of the Board of the company.
“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,” stated Wesley Batista.
To read the original report about their suspension from JBS SA, click here: http://www.provisioneronline.com/articles/103810-breaking-jbs-ceo-suspended-from-all-management-posts-by-court-order
Source: JBS SA