Brazil’s Public Ethics Commission has given approval for Ivan de Souza Monteiro to assume the role of chief financial and investor relations officer of Brazil-based meat and poultry company BRF.
The company, in an announcement to the market dated February 18, announced that the commission had notified it that there were no conflicts of interest that would prevent Monteiro to carry out the job.
With clearance from the ethics commission, Monteiro is slated to become the chief financial and investor relations officer on March 11.
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, 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, formerly known as Brasil Foods, is divesting of its assets in Argentina, Europe and Thailand, while placing its focus on the Brazilian, Asian and Muslim markets.
