April 13, 2007

Brazil's Perdigao CEO to resign within year
 

The chief executive of Brazilian meatpacker Perdigao will resign within the year, the company said in a statement with the Brazilian Securities Commission, or CVM, Thursday.

CEO Nildemar Secches said the decision was personal.

Secches has been CEO of Brazil's No. 2 meatpacker for 12 years. He said in the CVM statement the company needed "fresh eyes" to face market challenges.

Secches recently took over as chairman of Perdigao's Board of Directors, replacing Eggon Joao da Silva. Silva was at his post since 1994. Secches is currently chairman of the board and CEO of Perdigao.

"Perdigao is on solid ground and has an administrative structure that is much less dependent on any one executive," Secches said in the statement, adding the company has investment plans locked in for the next four years.

Perdigao did not have any names ready of people to replace Secches at this time.

Under Secches, Perdigao invested an additional 2 billion Brazilian reals (US$980 million) in acquisitions and facility upgrades, increasing payroll to 40,000 employees from 12,000.

Perdigao produces 1.33 million tonnes of chicken, beef and pork meat annually.

Perdigao is one of the world's leading chicken exporters. Brazil is the world's No. 1 chicken meat exporter.