Marfrig Global Foods, the world’s second largest beef processor, announced Eduardo Miron as the company’s new chief executive officer (CEO), according to a company’s filing in Brazil’s securities regulator CVM.
Miron, who had been Marfrig’s Chief Financial Officer since 2016, will replace Martin Secco as CEO.
The company has also announced a new structure for its business, which will be organized in two divisions: South America, gathering operations of 31 units in Brazil, Uruguay, Argentina and Chile; and North America, including National Beef and a beef patty factory in North Baltimore, Ohio.
“We want the two divisions to have independent goals and management, and that we can measure success in each one of them,” said Miron in a conference call with analysts on Tuesday.
He added that Marfrig doesn’t plan to expand production capacity in either of the divisions in the short term, and that the company will prioritize leverage reduction and sustainable growth after acquiring Natural Beef and selling Keystone to focus on the beef processing business.
Marfrig’s South American division will be led by Miguel Gularte, a veterinarian who has been working in the beef industry for 37 years, having occupied the positions of president of JBS Mercosur and vice-president at Minerva.
The North America division will continue to be led by National Beef’s CEO Tim Klein.
Marco Spada, Marfrig’s current director of Treasury, will assume the CFO role. Fabio Vasconcellos, who has been in Marfrig for nine years in the positions of global controller and financial head of Keystone, will take the job as vice-president of planning and management.