Meirelles adds professionalism to J&F
The market has welcomed the former president of Brazil’s Central Bank, Henrique Meirelles, in joining the Batista family business as chairman of the board at the holding company, J&F. The view has been taken that the executive will improve corporate governance at the family’s several businesses, adding credibility and professionalism.
The family business has been through a process of rapid and diverse growth, as technical director at Informa Economics FNP, José Vicente Ferraz, recalls. One example is the food business, JBS, which in about six years has become one of the leading companies in the world in the segment. Its net income in 2006 was R$ 3.967 billion, increasing to R$ 55.055 billion in 2010, achieved under family management. Ferraz says Meirelles’ input on the holding company’s board comes in response to a request made by the market for a more professional structure.
Information provided by Agência Estado