SAO PAULO, Brazil – JBS Foods International promoted Russ Colaco to CFO. Colaco will lead JBS SA’s spinoff of its international businesses in addition to taking on responsibility for all finance operations at JBS Foods International.
Colaco joined the company in February as director of strategy and corporate development. Before taking the post, he worked for Morgan Stanley as a managing director in the firm’s investment banking division. Colaco spent nine years at Morgan Stanley where he advised clients in the global retail and consumer segments. He also has worked extensively with JBS, the company said. Colaco earned an MBA from the Univ. of Chicago Booth School of Business.
“Russ brings strong financial expertise and a broad-based strategic perspective to JBS,” Wesley Batista, CEO, said in a statement. “He will play an important leadership role as we seek to fully implement our global strategy.”
In May, JBS SA, the world’s largest meatpacker, announced plans to fold its international businesses and its Seara Alimentos chicken processing business into JBS Foods International and change JBS SA to JBS Brasil. JBS Brasil will hold the company’s Brazilian beef, biodiesel, collagen and carrier businesses along with its global leather business.