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Brazil meatpacker Marfrig proposes shareholder Molina, Santander’s Rial for BRF board -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The headquarters of Brazilian meatpacker BRF SA in Curitiba (Brasil) October 1, 2019 shows a logo. REUTERS/Rodolfo Buhrer

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SAO PAULO, Brazil – Marfrig Global Foods SA announced Tuesday that Marcos Molina (Brazilian meatpacker) was proposed to be appointed chairman of BRF and Sergio Rial (MC::) Brasil) vice-president.

A filing states that the BRF Board’s new composition will be finalized on March 28, as shareholders vote on proposed names.

Marfrig stated Monday that it wanted to appoint BRF’s board members after purchasing a 33.25% interest in the company. Marfrig claimed it has decided to exercise its power to affect BRF management.

Marfrig filed a separate document on Tuesday to confirm the nominations of Molina, Rial, and eight other candidates.

Valor Economico had earlier reported that Rial and Molina were selected to serve on the board of BRF.

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