Brazilian meat company BRF has continued its restructuring efforts by appointing Elcio Ito as its new chief financial officer (CFO), as well as appointing several new executives.
Ito succeeds Lorival Luz, the company’s global executive vice-president, who had held the role on an interim basis.
Ito has held several senior roles at the company since he joined in 2011, working in various roles in the Treasury, Financial Planning, Investments, Market Risk and Investor Relations departments, and a statement from BRF claimed that he has spearheaded “important changes” at the company during this time.
Most notably, Ito has served as the company’s financial vice-president, as well as BRF’s vice-president of integrated planning, where he was in charge of integrated planning, international logistics and market intelligence.
BRF’s board of directors made the decision to appoint Ito at a meeting on 31 August, where they also named Leonardo Dallorto as the company’s new vice-president of integrated planning and hired Rubens Pereira as vice-president of strategy, management and innovation.
Dallorto previously served as the company’s executive director of industrial operations, and he also joined the company in 2011 to serve as the head of the company’s supply, integrated planning and logistics for its South Region.
Pereira meanwhile will assume his new role on 1 October 2018, joining the company from Cargill’s vegetable oil business, where he held the role of global strategy and innovation director.
The appointments follow a disappointing second-quarter for the company, which recorded a net loss of BRL 1.574 billion ($405 million) in the quarter, due in part to trade embargoes imposed because of the company’s implication in the ‘Carne Fraca’ food safety scandal in 2017.
BRF recently appointed Pedro Parente as its new CEO, and announced earlier this year that it would seek to offload up to $1.2 billion worth of assets as part of its restructuring efforts.
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