Pedro Parente, who in June was appointed as the chief executive officer (CEO) of Brazil-based meat and poultry company BRF, will step down from that role in 2019, but will remain in his position as chairman of the company.
His appointment as the chairman was approved in April.
Replacing Parente as the CEO will be Lorival Nogueira Luz Jr., according to a report from Reuters. The transition is expected to be completed in the middle of 2019.
Parente came to BRF after serving as the leader of the state-run oil company Petrobras.
At the time of Parente’s appointment as CEO, the EFE news agency reported that Parente would be CEO and chairman of the board of directors of BRF for an initial period of 180 days, which the company will try to extend for up to one year.
Nogueira Luz has been in the newly created position of chief operating officer since June. Prior to that, he held other leadership roles within the company. He has also served as the chief financial and investor relations officer. He also was BRF’s interim global CEO prior to Parente’s appointment but following the departure of the previous CEO, José Aurélio Drummond Jr., who also had a brief tenure, having only served in that role for about four months.
Divestiture plans still in place
At the same time BRF revealed plans for Parente to depart, it also announced that it hopes to conclude the divestiture of operational units In Europe, Thailand and Argentina before the end of the year.
In July, BRF stated in a material fact on its website that it wanted to sell those assets so it could put its focus on focus on its transactions in the Brazilian domestic market, in Asia, and in the Muslim market, which included the Banvit assets in Turkey. According to the company, those are the markets in which it occupies a leading position and has strong competitive advantages.
