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Financial News: BRF: Three Nominees Refuse To Take Part In

BRF: Three Nominees Refuse To Take Part In Alternate Board Election

04/12/2018 - 14:37:00 (RTTNews)

(RTTNews) - Augusto Marques da Cruz Filho, Jose Luiz Osario de Almeida Filho, and Roberto Antonio Mendes refused to take part in an alternative list for the election of the company's new board members. They argued that nobody discussed that matter with them.

The current board approved the alternative list last Friday, and the election is scheduled for April 26.

The trio had been initially listed as potential new board members in early March by Previ and Petros, the pension funds of Banco do Brasil and Petrobras.

Both funds called for a full board replacement after BRF recorded a R$ 784 million loss in the fourth quarter of 2017, 77.4% higher than the R$ 442 million loss posted in the same period of the previous year. Investors expected a profit of around R$ 187.52 million in the last quarter of 2017.

The trio said that they only agreed to compose the March list, which featured Augusto Marques da Cruz Filho as president of the board, Francisco Petros as vice-president and Luiz Fernando Furlan, Walter Malieni, Roberto Mendes, Dan Ioschpe, Guilherme Afonso Ferreira, Jose Luiz Osario, Roberto Funari, and Vasco Augusto Pinto da Fonseca Dias Junior as the other board members.

In the most recent list, suggested by the current board, Augusto Marques and Francisco Petros were replaced in the presidency and vice-presidency by Furlan and Malieni, respectively.

The rest of the list would be made up of Augusto Marques, Flavia Buarque de Almeida, Roberto Rodrigues, Jose Aurelio Drummond Jr, Jose Luiz Osario, Roberto Ant?nio Mendes, Dan Ioschpe, and Vasco Augusto Pinto da Fonseca Dias Junior.

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