JBS reinstates Batista brothers to board

Held in São Paulo on 26 April 2024, the JBS general assembly approved a motion to increase the number of board directors from nine to 11, with 83% of voters electing the two brothers.

The majority of independent directors remains at seven to four.

The Batista brothers stepped down from executive positions at JBS in 2018, with both subsequently spending several months in jail following allegations of bribery and insider trading.

Throughout this period though, they maintained control of the business through their holding company J&F Investimentos which owns 1.08bn shares in JBS, translating to a stake of 48.48%.

JBS is one of the largest meat processing businesses in the world and operates extensively in the UK through manufacturers such as Pilgrim’s UK and Moy Park.

Responding to Food Manufacture’s request for comment, a JBS spokesperson said: “Both directors have over 35 years’ experience in the food sector and have contributed to make JBS one of the largest food companies in the world and the employer of 270 thousand people globally. Their presence will enrich strategic board discussions benefitting all shareholders and other stakeholders.”​

In other news, a drinks company near Leicester has been fined £14,000 after an employee had to have his finger amputated following an incident with a bottling machinery.​​