BRF: Global Operations Vice President Resigns Amid Board Turbulence

(RTTNews) - Hélio Rubens resigned from the position of vice president of global operations at the Brazilian food company BRF. He presented his resignation yesterday, amid growing tension between board members regarding last year's results,

In the fourth quarter of 2017, BRF posted a R$ 784 million net loss, 77.4% higher than the R$ 442 million loss recorded in the same period of 2016. The market expectation was a return to profit.

Also yesterday, the pension funds of the employees of the state-owned Brazilian companies Banco do Brasil (Previ) and Petrobras (Petros) called for the exchange of all members of BRF's board of directors.

After criticism of the funds, the chairman of BRF's board of directors, Abilio Diniz, called an extraordinary meeting of the board of directors for March 5.