BRASILIA, Brazil – JBS announced that Jose Batista Jr. was appointed interim president and CEO, succeeding his brother Wesley Batista, who, along with Joesley Batista, was suspended from managing any of the Batista family businesses while federal authorities investigate alleged fraud at J&F Investment, the Batista family’s investment arm.
The JBS board of directors also named Jose Batista Sobrinho chairman of the board. Batista Sobrinho is the Batista brothers’ father and founder of JBS. JBS is not part of the investigation.
Jose Batista Jr. has served as president of JBS for more than 20 years, “and is profoundly knowledgeable of all the activities of the group,” the company said in a statement. “I take on the role of president of JBS with a commitment to give continuity to the sustainable growth of the company,” José Batista Jr. said in a statement. “JBS has a robust global and reginal business structure, with experienced senior executives and a solid corporate governance.”
Wesley Batista and Joesley Batista said they will appeal a judge’s order suspending them from their executive functions — Wesley as president and CEO, and as vice chairman of the board and Joesley as chairman of the board. Another 38 individuals also were ordered to stop management activities at any companies where they work.