New BRF Chairman Diniz has no plan to resign from Pão de Açúcar

SAO PAULO, April 9 Tue Apr 9, 2013 4:37pm EDT

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SAO PAULO, April 9 (Reuters) - Retail tycoon Abilio Diniz does not plan to resign as chairman of Grupo Pão de Açúcar SA now that BRF Brasil Foods SA shareholders have elected him to lead their board, his press relations office said on Tuesday.

Diniz has faced accusations that holding both positions creates a conflict of interest because Brasil Foods is a major supplier to Pão de Açúcar SA.

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