In a controversial move, scandal-hit Wesley and Joesley Batista have been elected to the board of Brazilian meat giant JBS, a decision criticized by advocacy group Ban the Batistas.
Both brothers, who previously held high-level positions at the company founded by their father José Batista Sobrinho, received more than 1.2 billion votes in favor of their return to the board at JBS’ annual meeting on 26 April.
Despite nearly 250 million votes against the move and almost 500 million abstentions, the Batista brothers, who control nearly 1.08 billion JBS shares through their holding company J&F Investimentos, have regained their board positions.
Following the votes, Ban the Batistas protested outside the New York Stock Exchange, expressing concerns over what they perceive as an “unchecked power grab” by Joesley and Wesley Batista as majority shareholders of JBS.
Earlier this year, the brothers were elected to the Pilgrim’s Pride board, in which JBS holds a majority stake.
Joesley, former JBS chairman, and Wesley, former CEO, have a controversial history, having been charged with insider trading in 2017. Despite stepping down from their executive roles, they were acquitted of these charges in 2023.
As part of Operation Car Wash, an anti-corruption investigation, the Batista brothers disclosed a network of bribes involving over 1,800 politicians.
In response to the board reinstatement, Kimberly Spell, executive director of Ban the Batistas, criticized the decision, stating, “The shareholder vote to reinstate the Batista brothers to JBS’ board proves what we have known all along: the game is rigged.”
JBS, which is seeking a stock-market listing in New York to enhance access to investor funds in Brazil and the US, defended the Batista brothers’ appointment, highlighting their extensive experience and contributions to the company.
