April 18, 2018 / 11:08 PM / a year ago

UPDATE 1-Petrobras CEO Parente accepts invitation to be BRF chairman

(Recasts with Parente accepting)

By Ana Mano

SAO PAULO, April 18 (Reuters) - The chief executive of state-run oil firm Petrobras, Pedro Parente, said he had accepted an invitation to become chairman of Brazil’s BRF, confirming earlier reports that sent the food processing firm’s shares up on hopes of a swift resolution to leadership tussles.

Abilio Diniz, the current chairman of BRF SA, invited Parente to replace him, Diniz’s investment firm Peninsula Participações said in a statement late on Wednesday.

Parente is already the CEO of Petroleo Brasileiro SA , as Petrobras is formally called, and chairman of the board of financial exchange operator B3 SA Bolsa Brasil Balcao . In a statement accepting Diniz’s invitation, Parente said he would resign his post at B3 if elected to chair BRF’s board.

BRF shareholders will vote to elect 10 new board members on April 26.

Shares of BRF SA jumped almost 10 percent on Wednesday. Business daily Valor Economico reported that major shareholders had reached a consensus that Parente would be a good candidate for the job.

BRF declined to comment.

Key shareholders of BRF, including Tarpon Investimentos and pension funds Petros and Previ, said they backed the nomination of Parente. Aberdeen, owner of 5 percent of BRF, did not have an immediate comment.

Luiz Fernando Furlan, the 15th largest shareholder of BRF, said on Tuesday that a prolonged leadership struggle could damage plans for a turnaround of the company, and called for a board that will work as a team. (Reporting by Ana Mano; writing by Anthony Boadle, Editing by Rosalba O’Brien)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below