Sector News

Brazil poultry packer BRF names Pedro Faria CEO

September 26, 2014
Consumer Packaged Goods
(Reuters) – The board of Brazil’s BRF SA, the world’s largest poultry exporter, named Pedro Faria its new chief executive officer, effective Jan. 1, the company said in a securities filing on Thursday.
 
Faria will replace Claudio Galeazzi, a partner at investment-banking firm BTG Pactual Group, who became CEO in August 2013. Galeazzi had agreed to stay only until the company consolidated its position as an important player in the international processed foods business.
 
BRF is the product of the 2009 takeover of Brazilian meat-packer Sadia by rival Perdigao.
 
Faria, who was previously the company’s international CEO, is not expected to make dramatic changes in BRF’s strategy.
 
BRF acquired Federal Foods in Abu Dhabi this year and also plans to open a processed-foods plant in the Middle Eastern country to improve access to distant Asian markets such as Indonesia. (Writing by Caroline Stauffer and Jeb Blount; Editing by Dan Grebler)

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