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Incoming JBS CEO seeks improved beef margins
['Dayanne Sousa']
Transport Topics
(Michael Ciaglo/Bloomberg)Key Takeaways: JBS said its U.S. beef business has not yet benefited from restructuring efforts, though incoming CEO Wesley Batista Filho expects future gains from synergies and resumed Mexican cattle imports.
Batista Filho will become CEO in January and said strategy will remain unchanged, as investors assess the leadership transition, earnings results and expansion plans.
ImageJose Batista Sobrinho and Wesley Batista Filho.
The future of U.S. beef operations will be “the most important variable to watch.”
Still, the change in management could bring “negative memories of governance issues in JBS,” analysts at XP Inc. led by Leonardo Alencar wrote.