Wesley Batista will continue in his role as CEO, while his position on the board will be filled by his father, José Batista Sobrinho. Joesley Batista was replaced by Tarek Farahat, who has served on the company’s board since 2013 and has been the company’s Global President of Marketing and Innovation since 2015. Farahat formerly worked in several leadership roles with Procter & Gamble Co. for the past 26 years.
In a statement, JBS announced the creation of a governance committee, which Farahat will lead with the goal of implementing global best practices in corporate governance and compliance and rebuilding the trust of the company’s stakeholders.
“Governance is my utmost priority,” said Farahat. “We will work hard to restore trust with the market and protect the more than 235,000 families that are part of JBS. There is a significant amount of work to be done in order to regain the trust of our stakeholders.”