BRF approves Marfrig BRF (SA:) on Monday approved the appointment of Marfrig (SA:) controller Marcos Molina as the new chairman of the board of directors, in a move that expands the beef slaughterhouse’s influence. on the management of the poultry and swine company.
Marfrig (SA:) is currently BRF’s largest shareholder and has previously stated that it wanted to appoint its own members of the board of directors after having acquired a 33.25% stake.
At a shareholders’ meeting, BRF also approved the appointment of the chairman of the board of Santander Brasil (SA:), Sergio Rial, as vice-chairman of the board of the food company, according to the minutes of the meeting. Rial’s appointment was also proposed by Marfrig.
Marfrig began expanding its stake in BRF in May 2021, but said at the time that the move was only intended to diversify investments, rather than influence the company’s management.
The move comes nearly three years after failed talks about a merger between the two companies.
Marfrig Global Foods chairman Marcos Antonio Molina dos Santos was elected chairman of BRF.
According to BRF’s investor relations webpage, the new chairman was announced in a securities filing.
A majority of the shares present at the BRF annual shareholders meeting on March 28 approved his election and that of Sérgio Agapito Lires Rial as vice president.
855 million favorably voted, 6.3 million negatively voted, and 1.2 million abstained.
Marfrig Global Foods, a company he founded in Brazil, is headed by Molina dos Santos.
Since Marfrig’s inception, he has worked actively to strengthen commercial relations in national and international markets.
In addition, he is credited with improving industrial and quality processes to exceed the expectations of the global industry.
MMS Participacoes is the controlling shareholder of Marfrig, and its CEO is Molina dos Santos.
Earlier this year, Marfrig Global Foods announced its intent to get representation on the board of BRF.
Was this helpful?
0 / 0