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Activist investors nominate 10 candidates to BRF's board

BRF SA shareholders Fundação Petrobrás de Seguridade Social, or Petros, and Caixa de Previdencia dos Funcionarios do Banco do Brasil, or Previ, nominated 10 candidates for election to the Brazilian food company's board, according to a March 5 Form 6-K.

The move comes days after the shareholders called for the company to set an extraordinary general meeting to discuss the dismissal of the company's entire board and the approval of a new 10-member board.

Petros and Previ nominated Augusto Marques da Cruz Filho, Francisco Petros Oliveira Lima Papathanasiadis, Walter Malieni Jr., Guilherme Afonso Ferreira, José Luiz Osório, Roberto Antônio Mendes, Dan Ioschpe, Roberto Funari, Vasco Augusto Pinto da Fonseca Dias Júnior and Luiz Fernando Furlan to the company's board of directors.

The shareholders nominated Marques da Cruz, former president, CEO and CFO of hypermarket chain Companhia Brasileira de Distribuição, to become BRF's new board chairman.

Reuters reported the same day that former BRF CEO Pedro Faria was arrested by Brazil's federal police in connection to the country's yearlong food safety investigation of the Brazilian meat industry.