March 10, 2017 / 12:08 AM / a year ago

CFO of Brazil's BRF resigns after steep 4th-quarter loss

SAO PAULO, March 9 (Reuters) - The chief financial officer of Brazilian food processor BRF SA, Alexandre Carneiro Borges, resigned on Thursday, less than two weeks after the company posted a steep quarterly loss and promised to overhaul management protocols.

Elcio Mitsuhiro Ito will be the interim CFO while the company seeks a replacement, BRF said in a securities filing. Rodrigo Vieira, marketing vice president, also resigned, the filing said.

Two weeks ago, Chairman Abilio Diniz and Chief Executive Officer Pedro Faria told analysts that lack of real-time information and miscommunication between industrial and commercial divisions were the reasons for the 460 million reais ($144 million) fourth-quarter loss.

Shares in BRF were up 1.8 percent on Thursday, reducing losses so far this year to 15.9 percent. ($1 = 3.1927 reais) (Reporting by Tatiana Bautzer; Editing by Leslie Adler)

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