SAO PAULO, July 16 (Reuters) - JBS SA, the world’s largest meatpacker, said on Thursday it had created a corporate governance compliance unit, the latest Brazilian company to do so since a massive corruption scheme was discovered at the state-run oil company.
Sao Paulo-based JBS, once a family-run butcher, said the new unit would be a “competitive advantage” and bring more security for employees and investors.
The unit will be run by Marcel Fonseca, who has worked in compliance since 1999, previously at GE Healthcare, JBS said in a statement.
Several Brazil-based companies have created compliance boards since a massive corruption scheme involving price fixing and political kickbacks was discovered at Petroleo Brasileiro SA over a year ago. (Reporting by Caroline Stauffer; Editing by David Gregorio)