Sector News

Rial leaves Marfrig to join Santander Brasil board, sources say

January 15, 2015
Consumer Packaged Goods
(Reuters) – Sergio Rial, who stepped down early on Thursday as chief executive officer of Brazilian meatpacker Marfrig SA, plans to join Banco Santander Brasil SA as chairman of the board within a few hours, two sources with direct knowledge of the situation said.
 
Rial, a former investment banker with a combined 20-year experience at Bear Stearns Cos and ABN Amro NV, was replaced by Martin Secco Arias as Marfrig’s CEO. Rial had become CEO of the Sao Paulo-based meatpacker in January last year.
 
Santander Brasil declined to comment. Efforts to reach Rial for comment were unsuccessful. (Reporting by Guillermo Parra-Bernal and Aluísio Alves; Editing by Meredith Mazzilli)

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