Wesley Filho named JBS CEO as leadership returns to family - Valor International

Global executive leadership of JBS will return to the Batista family starting in 2027. After eight years at the helm of the world’s largest meat company, Gilberto Tomazoni will step down as global CEO and hand the position to Wesley Batista Filho, the son of Wesley Batista, who, together with his brother Joesley, is a partner in J&F, the holding company that controls JBS.

JBS forms joint venture with Indonesia fund in $2.5bn dealJBS enters partnership with South Korea’s Highland FoodsNew Middle East clashes hampering Brazil’s agricultural exports

The appointment of Wesley Filho, who has led JBS’s U.S. operations since 2023, is part of a transition planned for more than two years and is not expected to represent a break with the strategy pursued by Tomazoni to date.

“The strategy that Tomazoni has been leading over the past eight years as CEO, I had the honor of being part of the team that executed it, so there is complete alignment on what we will do in the future,” Wesley Batista Filho told Valor. “It will be a very straightforward transition from a continuity standpoint.”

Now 34, Wesley Filho began his career at JBS in 2011 as a trainee in the company’s beef operation in Colorado, in the U.S., before moving to the beef export division in São Paulo. He later led beef operations in Uruguay, Paraguay, and Canada, overseeing cattle purchases, production and commercial operations. In 2018, he became CEO of JBS Brazil, a position he combined two years later with leadership of Seara. In 2022, he became global president of operations, overseeing North and South America, Europe and Oceania, before becoming CEO of JBS USA.

“Wesley Filho has worked in the three markets that determine the company’s direction—Brazil, Seara and the U.S.—and he led the U.S. operation precisely during the worst point in the cattle cycle. Promoting someone who made it through the trough signals that the company views the [profit] squeeze in North America as cyclical, rather than managerial, and wants continuity in managing the recovery,” said Luca Vello, an analyst at Genial Investimentos.

The point of attention, according to Vello, is how the market, particularly the U.S. market, will perceive the announcement. “The company built its New York listing to attract a U.S. institutional investor base that is sensitive to family control of the executive leadership.” On Monday (10), JBS’s Brazilian Depositary Receipts (BDRs) closed down 4.44%, at R$68.89.

Another analyst, who asked not to be identified, viewed the choice positively. According to him, Wesley Filho was “built for the position” and has “remarkable depth” of knowledge of the sector and the operation.

Wesley Filho told Valor that he plans to strengthen new areas of the company’s operations, such as the Indonesian market. Last week, JBS announced a joint venture with the Asian country’s sovereign wealth fund, with the aim of raising up to $5 billion for acquisitions and expansions. The halal market, involving food produced in accordance with Islamic law, also offers opportunities, as do the company’s U.S. and Brazilian operations.

“In Brazil, we have already made significant investments in Seara, but there is still more to be done. And without a doubt, the egg business, in partnership with Mantiqueira, is a major growth focus. In the U.S., when it comes to brands, we can continue to grow, we are excited, and we are also building new plants,” he said.

Tomazoni will leave his position after 14 years at JBS, including eight as global CEO. He will oversee the transition process before becoming vice chairman of the board of directors and “senior advisor.” He will also remain chairman of the board of Pilgrim’s Pride and become chairman of the J&F Institute’s board.

Under his leadership, JBS increased its revenue by 73%, to $86.2 billion, and expanded into new categories, strengthening its portfolio of brands and higher-value-added products. The company also completed its listing on the New York Stock Exchange (NYSE), a step it had pursued for years because of the opportunity to access a broader range of global investors.

“Wesley is very well prepared for this succession. We have worked closely together for more than 10 years, and I know his ability to execute, his commitment, determination, ability to deliver superior results, and his focus on developing people,” Tomazoni said in an interview.