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.