SAO PAULO, March 5 (Reuters) - A key board meeting at embattled Brazilian food processor BRF SA is set to go ahead as planned despite new fraud allegations levied at the company by Brazil’s federal police, the company’s investor relations department said on Monday.
BRF is due to hold an extraordinary board meeting today in response to demands from major investors that it replace all its directors following the company’s worst ever annual results last month.
Before the market opened on Monday, police in Brazil arrested the company’s former chief executive and announced a new stage of a probe into the firm evading food safety checks, sending shares down 17.8 percent by the afternoon. (Reporting by Gram Slattery)