April 27, 2018 / 3:12 PM / a year ago

Brazil's BRF board, management not to blame for difficulties, says Diniz

SAO PAULO, April 27 (Reuters) - Abilio Diniz, who owns 4 percent of food processor BRF SA, said the company’s involvement in a food safety probe and mismanagement of feed inventories that led to billions in losses cannot be blamed on the firm’s board or managers.

“The difficulties faced by the firm would have occurred with any board and with any management,” Diniz said on a Friday conference call with journalists. It took place one day after he was replaced by Pedro Parente as chairman of the world’s largest poultry exporter. During Diniz’s 5-year stint, BRF shares lost more than 40 percent of their value. (Reporting by Ana Mano)

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