BRF Discloses Material Fact
SAO PAULO, Aug. 14, 2013 /PRNewswire/ -- In April BRF's management initiated work on identifying opportunities for adding value to the Company. As a result, the Board has approved the following measures:
Review of the Administrative Structure
The Company's Administrative Structure will be matricial and divided into: five global areas responsible for the definition of policies and guidelines as follows: 1. Marketing and Innovation; 2. Finance, Administration and IR; 3. Human Resources; 4. Operations; 5. Integrated Planning and Management Control; and two areas accountable for the business regions in the Brazilian and international markets.
The Executive Board with a term of office until the 2015 E/AGM will be made up as follows:
Chief Executive Officer: Claudio Galeazzi
Chief Financial, Administration and Investor Relations Officer: Leopoldo Viriato Saboya
Executive Vice Presidents:
Ely David Mizrahi
Luiz Henrique Lissoni
The Board has approved the appointment of Claudio Galeazzi to succeed Jose Fay who has been CEO of BRF since October 2008 and was responsible for implementing the successful merger of Sadia and Perdigão. Growth during Mr. Fay's period as CEO is well known with an increase of 150% in revenue and 260% in TSR. Mr. Fay will remain at the Company until the year-end focusing on special projects in overseas market operations.
New Businesses Acceleration Program
Four working fronts have been constituted made up of Company executives and coordinated by the consultancy, Galeazzi & Associados. The principal opportunities for improvements identified relate to the following processes: Generation of Demand, Planning, Support and Source.
On the basis of initial data already known to management, the Company believes that the identified opportunities can be gradually seized, impacting operating results, if achieved, in up to R$ 1.9 billion per year as from 2016. Investments of about R$ 800 million over the next three years will have to be approved if the expected results are to be achieved.
Company management points out that any estimate with relation to these opportunities is essentially contingent on the success with which the identified processes are implemented. In addition, our expectations are also conditional on factors over which the Company has no control, such as: changes in the market and the overall performance of the country, sector and the international markets. These estimates are therefore subject to eventual changes and may not be reached totally or partially.
SOURCE BRF S.A.
More by this Source
Pedro Faria Appointed to the Position of CEO - International of BRF
Nov 14, 2013, 16:25 ET
BRF income grows 38% in 2013
Feb 27, 2014, 17:57 ET
BRF - Announcement to the Market
Dec 19, 2013, 17:04 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.