Marfrig Global Foods has selected Eduardo Miron as its new chief executive officer. Miron replaces Martín Secco, who has led the company since 2015.
Miron joined Marfrig in 2010 and, since 2016, has been the chief financial and investor relations officer while also serving as the chief financial officer of Keystone Foods in the United States.
Before joining Marfrig, he worked for ten years at Grupo Safra and for more than two decades at U.S.-based Cargill, where he held leadership positions in Brazil and the United States. Miron, 55, holds a degree in accounting, a graduate degree in finance and an MBA from Business School São Paulo/University of Toronto.
“The choice of Eduardo Miron as CEO underlines our commitment to a financially and operationally sustainable Marfrig. Miron was at the forefront of the company’s most recent strategic operations: the acquisition of controlling interest in National Beef and the divestment of Keystone. These transactions have transformed Marfrig into a simpler company focused on beef and supported by a global production and distribution platform. Also, Marfrig is now a company with low financial leverage,” said Marcos Molina dos Santos, the controlling shareholder and chairman of the board.
In recent years, Marfrig implemented the strategies outlined in its Focus to Win plan, one of the main goals of which was to reduce its financial leverage, as measured by the ratio of Net Debt to Adjusted EBITDA to 2.5 by the end of 2018. Under the leadership of Martín Secco, several targets of the plan were achieved. The acquisition of controlling interest in the U.S.-based National Beef in April this year and the pending sale of Keystone Foods were fundamental in achieving this goal, the company stated. Marfrig Global Foods and Tyson Foods on August 20 announced that a deal had been reached for Tyson to acquire Keystone, with that transaction expected to close in the first half of Tyson’s 2019 fiscal year.
Now, under the leadership of Miron, Marfrig intends redouble its efforts to create value supported by financial sustainability, by the integration of and capture of synergies at National Beef and, in South America, by a management strategy centered on operational excellence, on adding value to its products and brands and on revamping its structure.
“We will strive to create value in all dimensions of the business,” said Miron. “We want to be recognized as a sustainable company for our financial management, for the returns we offer shareholders and investors and for our relations with cattle producers, employees, clients and consumers.”
