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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →BRF announced in August 2022 that CEO Lorival Luz had resigned and named Miguel Gularte, then a senior Marfrig executive, as his successor. A contemporaneous report said BRF shares were about 6% higher in early São Paulo trading after the announcement. That was an approximate intraday move, not a confirmed closing return, and the report does not establish that the resignation caused it.
What happened at BRF in August 2022?
Brazilian food processor BRF announced that Lorival Luz had resigned as chief executive. The company named Miguel Gularte, then a top executive at Marfrig, to replace him. The change is a historical event, not a current resignation: BRF’s first-quarter 2026 management materials still identify Gularte as CEO (BRF investor relations).
How much did BRF shares rise?
A contemporaneous report put BRF shares around 6% higher in early trading in São Paulo following the announcement (contemporaneous report). The figure describes an approximate early-session move; it should not be read as a verified closing gain or a return that persisted afterward.
Why did the shares rise?
The timing shows that the reported move followed the leadership announcement, but it does not prove that the resignation caused the rise or reveal why investors bought the shares. The same report noted that BRF had posted a wider-than-expected second-quarter loss and was facing high cost inflation, factors that formed part of the market context.
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XP analysts described Gularte’s appointment as “unexpected” and said he “should be able to make BRF more agile, removing discomforting inertia that was responsible for lost opportunities in BRF’s past.” That was the analysts’ interpretation as reported at the time, not a company statement or an independently established explanation for the share move.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Did the appointment signal a BRF–Marfrig merger?
No. BRF said, “The move does not reflect an intention to merge the two companies.” The contemporaneous report also said Marfrig held a 33.27% stake in BRF at that time. That is period-specific reporting, not a statement about Marfrig’s current ownership.
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