Good morning! Today, we talk about the return of the Batista brothers to the JBS board. What’s wrong with the new bankruptcy bill the House has just passed? And a new cyber threat.
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Brazil’s beef kings return to JBS board
In a securities filing, meat-processing giant JBS told regulators it is expanding its board from nine to 11 seats to make room for brothers Joesley and Wesley Batista. Their return is expected to be approved at the upcoming April 26 shareholder meeting.
- The brothers, sons of JBS founder José Batista Sobrinho, are credited with modernizing the company and transforming it from a small meatpacking operation into the world’s largest food company — with more than 500 production units and sales to 180 countries.
👉 Why it matters. In addition to their undeniable prowess in beef, the Batista brothers are also notorious for their corruption and business scandals.
Joesley Day. On May 17, 2017, the Brazilian press revealed that Joesley Batista had secretly taped then-President Michel Temer. The recording itself was leaked soon...