JBS Names 34-Year-Old Wesley Batista Filho CEO as Shares Fall 5.8%
Updated
Updated · Financial Times · Aug 10
JBS Names 34-Year-Old Wesley Batista Filho CEO as Shares Fall 5.8%
3 articles · Updated · Financial Times · Aug 10
Summary
Wesley Batista Filho, 34, will take over as JBS chief executive in January, returning the top job at the world’s largest meatpacker to its controlling family.
Gilberto Tomazoni, CEO since 2018, will become vice-chair after a transition; his tenure began after Batista family members were hit by a corruption scandal.
JBS said the move signals continuity, with Batista Filho—head of its biggest US division—backing further diversification and calling south-east Asia the company’s next geographic frontier.
That expansion already includes a $2.5 billion Danantara investment for a 25% stake in a regional joint venture spanning south-east Asia, Australia and New Zealand.
Shares fell 5.8% on Monday as JBS also reported a $102 million second-quarter net loss, despite revenue rising 14% to $23.9 billion.