By Brazil Stock Guide – Minority shareholders of MBRF are questioning chairman Marcos Molina’s use of a company-owned Gulfstream G650 for personal travel, including a recent trip to Europe, according to Folha de S.Paulo.
Molina’s daughter was married this month in Lake Como, Italy. Estimates cited by the investors put the cost of the flight at between R$410,000 and R$435,000.
MBRF says there was no wrongdoing. The company says personal use of the aircraft is part of the benefits granted to the chairman, was previously approved and is disclosed in its public filings.
For 2026, MBRF has budgeted R$2.29 million in direct and indirect benefits for its board of directors. The filings, however, do not break out how much of that amount is linked to Molina’s use of the aircraft or whether there are annual limits on flight hours or spending for personal trips.
If the estimate cited by the minority shareholders is accurate, the Europe trip alone would amount to roughly 18% to 19% of the board’s total annual benefits budget.
Brazilian corporate law allows executives to use company assets for personal purposes when previously authorized. MBRF says the required authorization is in place. The latest dispute adds to tensions between Molina and minority shareholders, who had previously challenged aspects of the Marfrig-BRF merger.
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