JBS SA the operating company under J&F Investimentos  has announced that brothers Wesley and Joesley Batista will rejoin the board of directors.  The question arises as to whether they de facto ever left the board.  They resigned their positions in 2017 following a series of scandals relating to wide scale bribery of politicians in Brazil.  In addition, it was alleged that the brothers sold shares in the company based on an agreement with the Ministry of Justice that was not common knowledge thereby averting losses when the agreement was announced.

Subsequently the Batista brothers returned to management roles at J&F in 2020 and were exonerated in 2023 by the Brazilian Securities and Exchange Commission.  Both brothers are now directors of Pilgrim’s Pride and their presence on the board of JBS SA will be a consideration as to whether the company will be listed on the NYSE.