Abilio Diniz is indicated to chairman of BRF

The epic of Abilio Diniz to the path of the Presidency of the Council of the BRF begins finally to achieve. The businessman was nominated yesterday by the Tarpon and Previ, the Pension Fund for officials of the Bank of Brazil, the President of the Board of Directors of the food industry, during the extraordinary meeting of the Board of BRF. The purpose of the meeting was to vote on the plate of the new composition of the Board, who won two new names: Diniz, replacing Dlayla Secches, current President, and Sérgio Rosa (ex-Previ), indicated in place of Heloísa Helena Silva de Oliveira, as Vice Chairman of the Board of BRF.
The plate was passed and goes to a vote in the House on April 9. However, with caveats. Previ and Tarpon are along with the Petros pension fund employees of Petrobras, the largest company with shareholders, respectively, 12.19%, 8.02% and 10.12% stake. And Petros also does not condone the Day name for the post, even though, traditionally, the Fund position in line with the Predicted.
"The votes of the representative of Petros, Luis Carlos Fernandes Afonso, and the independent Member, Décio da Silva, were favourable to the composition of the plate, except in relation to the nomination for the Presidency of the Board of Directors," Petros said in a statement.
According to executives who attended the meeting, Petros is not against the presence of the Day in the Council, but does not accept the imposition of its name to the Presidency. The reason would be "conflict of interest", once that Day is also Chairman of the Board of Directors of Grupo Pão de Açúcar, one of the major customers of the company. The Petros "assesses that the deadline for the decision on who will chair the Board would not need to be today (21), which makes room for the pursuit of consensus," said in a statement.
The businessman Abilio Diniz said in a statement that "feels honored with his nomination for the Presidency of the Council of the BRF" and thanks the trust of shareholders.
According to another Executive who attended the meeting, Petros's position is inconsistent "they accept that Abilio Diniz is holder of the team but not Captain?" Defending the double Day "is that, together, they will help the company to enter into a new phase. "We're looking at the ability of the new members to help the company in its new growth cycle, with the launch of new products and international expansion," said the Executive. "Day is in minority BRF, is about 2%, and is no longer the owner of Pão de Açúcar, soon there is conflict," he added.
Casino
The French partner Day at Sugarloaf, Jean-Charles Naouri, certainly disagrees. Source close to the businessman claims that it maintains the same position that has defended the meetings of the Governing Council of the Sugar Loaf: "case Day go to the BRF, he must resign".
Marcelo Fernandez Trindade, former President of the Brazilian Securities Commission (CVM) and the Casino's legal representative, said at the meeting held on Wednesday (20), that "in some products and sectors, the BRF is a dominant supplier" in sugar loaf, in addition to being well fornecedorar of major competitors. "The commercial interests of the BRF are necessarily conflicting and competing with those of the CBD (Grupo Pão de Açúcar). But not only. BRF's products also compete with the products of own brands of CBD and strategic decisions about the development of these products are central to the CBD, "he said.
In addition to Petros, the Casino has other support and is not alone in this opposition. Yesterday the National Confederation of Financial sector Workers (Contrabassoon-CUT) sent to the Chairman of the craft Predicted, Dan Conrad, expressing concern about the rumors that the Fund would be supporting the nomination of businessman Abílio Diniz to the BRF. "The Contrabassoon-CUT sees conflict of interest in the statement (...). The possibility to implement the statement obliges us to question: the best way to defend the interests of the associates of the Predicted, one of the largest shareholders of Brazil Foods, is to indicate to the company's management an important shareholder of the largest buyer of its products? "he asks the President of the Contrabassoon-CUT, Charles Lamb, in the craft.
The entry of Abilio Diniz in the BRF has as its backdrop the businessman's interest in diversifying their investments, since he has been losing power at Sugarloaf.