Bloomberg News

JBS’s Holding Company Picks Henrique Meirelles as Its Chairman

March 04, 2012

J&F Participacoes SA, the holding company that controls meatpacker JBS SA (JBSS3), will name former Brazilian central bank president Henrique Meirelles its chairman today, spokesman Miguel Bueno said.

Meirelles, 66, will be the Sao Paulo-based company’s “strategist” and will create its board with Chief Executive Officer Joesley Batista, Bueno said in a telephone interview from Brasilia on March 3. Batista will remain as chairman of JBS, the world’s biggest beef producer.

As the longest-serving Brazil’s central bank president, from beginning of 2003 through the end of 2010, Meirelles reduced Brazil’s annual inflation to 5.91 percent in 2010 from 12.5 percent in 2002, while the country benchmark lending rate, known as Selic, dropped to a record low of 8.75 percent in 2009.

Meirelles, who lead the Latin American business at FleetBoston Financial Corp. before joining the government, was named head of Brazil’s Olympic Council last year.

J&F controls Vigor Alimentos SA, the dairy company JBS is seeking to spin off, pulp maker Eldorado Celulose & Papel SA, and lender Banco Original.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net


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