In the aftermath of the meat inspection and bribery scandals in Brazil, Joesley Batista has resigned from JBS as chairman and member of the board and from the committees in which he participated. Tarek Farahat, current board member, was unanimously elected chairman by the board of directors.

Farahat has worked for Procter & Gamble (P&G) for 26 years, serving in a number of leadership positions in several regions around the globe, including the Middle East, Europe and Latin America. From 2006 to 2012, he served as president of P&G Brazil. In 2012, he became president of P&G Latin America and an officer of the company's executive board. He has been a member of the JBS board of directors since 2013 and has served as global president of marketing and innovation since 2015.

In the same meeting, José Batista Sobrinho was unanimously elected vice chairman of the board.

The board also ratified the creation of a Governance Committee, which will be led by Farahat and whose main objective will be to implement global best practices in corporate governance and compliance at JBS.

"Governance is my utmost priority. We will work hard to restore trust with the market and protect the more than 235,000 families that are part of JBS. There is a significant amount of work to be done in order to regain the trust of our stakeholders," Farahat stated.

"We remain focused on offering consumers the highest-quality products and services while maintaining a close partnership with our suppliers and clients and supporting our more than 235,000 team members worldwide," he added.