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Sérgio Rial Takes over at Seara Foods

12 November 2012, at 8:31am

BRAZIL - Brazilian meat and poultry processor Marfrig Alimentos has appointed Sérgio Rial as CEO of the Seara Foods Business Division, responsible for the division consolidation into a single company, which he will lead as Executive President.

The Seara Foods Division is the processed food division of the Marfrig Group and comprises Seara Brasil, Keystone Foods and Moy Park.

The Executive Committee will act as an advisory group to the CEO of Marfrig primarily with regard to financial and strategic company management, relations with financial institutions and ratings agencies, general management support, budget preparation and control. Mr. Rial will chair the Executive Committee.

Mr Rial has been appointed a member of the Financial Committee and of the Compensation, Governance and Human Resources Committee, which are advisory committees to the Board of Directors.

Marfrig said the appointment of Mr Rial is a milestone in a transition process, which should lead to him taking the position of CEO of the Marfrig Group before 1 January 2014.

The group added that the appointment of Mr Rial is another step towards enhancing the company management and corporate governance. "It is also a move that will fully establish and advance our practices of Novo Mercado standards, that overturned the accumulation of positions as CEO and Chairman of the Board," said a company spokesman.

"MMS Participações S.A., our controlling shareholder, has indicated it plans to appoint Mr Rial to a seat in the Board of Directors of the Company at the next annual shareholders’ meeting."

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