Brazil-based meat and poultry company BRF has appointed Ivan de Souza Monteiro as its chief financial officer and investor relations officer.
Monteiro’s appointment was approved by the BRF Board of Directors on January 31, and the appointment is contingent upon the authorization of the Brazilian Public Ethics Commission of the Presidency of the Republic, since he has occupied an executive position in a state-controlled company, BRF stated in an announcement to the market.
Monteiro, in 2015, was named the chief financial and investor relations officer at Petrobras, a state-owned oil company. From June 2018 to December 2018, he was also the interim CEO of Petrobras. The current CEO of BRF, Pedro Parente, is also a former leader at Petrobras. Parente was named BRF CEO in June 2018.
Prior to his work with Petrobras, Monteiro served as vice president of financial management and investor relations for Banco do Brasil. With Banco do Brasil, he developed his career, having occupied executive roles in Brazil, Portugal and the United States.
BRF’s current CFO, Elcio Ito, has chosen to leave BRF “to dedicate himself to projects of personal interest,” the BRF announcement, which was signed by Ito, stated. Ito has spent more than eight years working for BRF, with the last two years in a vice-presidential role. He was appointed to chief financial and investor relations officer in 2018.
BRF, formerly known as Brasil Foods, stated that once the Public Ethics Commission clears Monteiro’s appointment, it will announce when his tenure with the company will begin.
BRF, according to the WATTAgNet Top Poultry Companies Database, is the world’s third largest poultry company, ranking only behind Brazil-based JBS and U.S.-based Tyson Foods. In 2017, the company slaughtered 1.72 billion birds.
In an effort to improve its financial situation, BRF is divesting of its assets in Argentina, Europe and Thailand.
