JBS NV announced on Monday that Wesley Batista Filho, an heir to the founding family, will take over as Chief Executive Officer in January, succeeding current CEO Gilberto Tomazoni, who will transition to Vice Chairman after a handover period. The 34-year-old Batista Filho currently oversees JBS NV's U.S. operations, which represent the company's largest revenue segment. He is the son of former CEO Wesley Batista and the grandson of company founder José Batista Sobrinho.

In an interview, Batista Filho described the move as a continuation of management, noting that JBS NV has a substantial growth trajectory and will continue to pursue diversification strategies while expanding into new geographic markets. Shares of JBS NV fell 5.8% on Monday in U.S. trading.

Where the transition stands

Tomazoni, who has served as CEO since 2018, was the first outsider to lead the company. He took over after brothers Wesley and Joesley Batista stepped back from management roles amid a corruption scandal. Since the early 2000s, the Batista brothers transformed a slaughterhouse founded by their father in 1953 into a global powerhouse in animal protein production. They remain among Brazil's most influential business figures and are still the controlling shareholders of JBS NV, which listed on the New York Stock Exchange last year. The Batista family's private conglomerate, J&F, has interests spanning fintech, mining, cosmetics, and energy.

Batista Filho began his career at JBS NV 15 years ago and has worked alongside Tomazoni for a decade. Tomazoni praised his successor, stating he is confident in the handover as he understands the executive's capabilities and approach to challenges. The incoming CEO views Southeast Asia as the company's "new geographic frontier." Last week, JBS NV announced that Indonesia's sovereign wealth fund, Danantara, will invest $2.5 billion to acquire a 25% stake in a joint venture covering the region, along with Australia and New Zealand.

Growth and criticism under outgoing CEO

During Tomazoni's tenure, JBS NV has advanced its diversification strategy, moving beyond its core beef, chicken, and pork businesses into areas like fish, eggs, and plant-based alternatives. However, the company has faced criticism from environmental activists over its environmental impact, with Tomazoni defending its sustainability record. On the same day, JBS NV reported a net loss of $102 million for the second quarter, while revenue rose 14% to $23.9 billion.