{"id":1627319,"date":"2022-08-30T18:19:45","date_gmt":"2022-08-30T22:19:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1627319"},"modified":"2022-08-30T18:19:56","modified_gmt":"2022-08-30T22:19:56","slug":"brazilian-food-processor-brf-ceo-resigns-shares-close-lower","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brazilian-food-processor-brf-ceo-resigns-shares-close-lower\/","title":{"rendered":"Brazilian food processor BRF CEO resigns, shares close lower"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbrazilian-food-processor-brf-ceo-resigns-shares-close-lower%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1627319&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Ana Mano and Gabriel Araujo<\/p>\n<p>SAO PAULO (Reuters) \u2013     Brazilian food processor BRF SA said on Tuesday that chief executive Lorival Luz has resigned and will be replaced by Miguel Gularte, a top executive at beef-packer Marfrig Global Foods SA. <\/p>\n<p>Shares in the poultry and pork processor were around 6% higher in early trading in Sao Paulo, but closed 1.10% lower at 16.19 reais ($3.17) as BRF investors digested the news.<\/p>\n<p>\u201cTo some extent, Miguel Gularte can be described as a beef guy,\u201d BTG Pactual analysts said in a note to clients. <\/p>\n<p>Whether he can reposition BRF to face stiff competition in Brazil remains an open question. \u201cThese are very different industries and require a different set of skills,\u201d BTG said comparing beef operations to pork and poultry processors. <\/p>\n<p>BRF said the move does not reflect an intention to merge the two companies, even though the market has speculated that for some time. <\/p>\n<p>Marfrig, which owns 33.27% of BRF, has said previously it was only interested in a passive stake in BRF.<\/p>\n<p>But BTG analysts see Gularte\u2019s appointment as \u201cyet another sign of how Marfrig is effectively taking control and influencing BRF\u2019s operations.\u201d <\/p>\n<p>XP analysts said in a note Gularte\u2019s appointment was \u201cunexpected,\u201d also highlighting the fact his experience comes from the beef sector. <\/p>\n<p>Still, XP believes Gularte \u201cshould be able to make BRF more agile, removing discomforting inertia that was responsible for lost opportunities in BRF\u2019s past.\u201d <\/p>\n<p>BRF, owner of well known brands Sadia and Perdigao in Brazil, has been reeling from high cost inflation and makes most of its sales in the domestic market. <\/p>\n<p>Unlike rivals JBS SA and Marfrig, BRF does not process cattle or owns plants in countries like the United States.<\/p>\n<p>Gularte was chief executive of Marfrig until today\u2019s announcement. <\/p>\n<p>Marfrig, whose shares dropped 3.78% after the bell on Tuesday, named Rui Mendonca as new CEO for South America replacing Gularte.    <\/p>\n<p>($1 = 5.1134 reais)<\/p>\n<p> (Reporting by Gabriel Araujo and Ana Mano; Editing by Kirsten Donovan and Jane Merriman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2743063\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7T0YN-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7T0YN-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ana Mano and Gabriel Araujo SAO PAULO (Reuters) \u2013 Brazilian food processor BRF SA said on Tuesday that chief executive Lorival Luz has resigned and will be replaced by<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1627319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1627319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1627319"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1627319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1627319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1627319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1627319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}