MercoPress. South Atlantic News Agency

Meatpacker Marfrig has a new CEO; plans to buy back shares

In a filing the company said 61-year old Miguel de Souza Gularte, who has headed beef operations in Brazil and South America since 2018, is the new CEO

Brazilian meatpacker Marfrig has elected a new chief executive officer and plans to buy back up to 5.91 million of its own shares, it said in two separate securities filings.

In a filing late on Monday, the company said 61-year old Miguel de Souza Gularte, who has headed up beef operations in Brazil and South America since 2018, replaces Jose Eduardo de Oliveira Miron as CEO.

In a separate filing early on Tuesday, the company said it plans a share buyback program of up to 5.91 million shares, which represents 0.83% of the company’s total shares and 1.45% of its free-float.

The operation will be carried out in a single transaction or a series of transactions over the next 18 months, it said.