SÃO PAULO — In a recent notice to shareholders, JBS SA confirmed that it will propose adding Wesley and Joesley Batista back to the board of directors.
The item was added to the agenda for JBS’s annual shareholder meeting, which will be held on April 26. The brothers joined the Pilgrim’s Pride board of directors in February 2024.
The Batista brothers stepped down from their JBS positions in 2017 due to accusations regarding “Operation Weak Flesh,” which exposed bribes paid to food safety inspectors in Brazil. The brothers faced allegations that they and other JBS SA executives bribed almost 2,000 politicians at all levels of government, including Michel Temer, former Brazilian president.
The Batistas and other JBS executives were charged with corruption in 2018.
Prosecutors also alleged the Batista brothers permitted the sale of millions of JBS shares weeks before submitting evidence of the bribes to officials, knowing the company’s share price would fall after the disclosures.
The Batista brothers spent six months in pretrial detention and were banned from holding management positions at J&F-owned companies.
The brothers returned to their management roles at J&F in 2020 after a ruling by the Brazil’s Superior Court of Justice.
Both Batistas were acquitted of insider trading during May and November 2023 by the Brazilian Securities and Exchange Commission (CVM).
JBS SA is also discussing when it might launch a potential initial public offering (IPO) in the United States.
In January, senators asked the US Securities and Exchange Commission (SEC) to examine the company before allowing it to trade on American stock exchanges.