Smithfield Foods CEO steps down, veteran exec takes over

Workers leave Smithfield Foods’ pork production in Sioux Falls, South Dakota, on April 16, 2020, as the coronavirus disease (COVID-19) continues to spread. REUTERS/File Photo/Shannon Stapleton Reuters, July 9 – Smithfield Foods, the world’s largest pork processor, announced on Friday that Chief Executive Officer Dennis Organ will step down for personal reasons after less than a year at the helm. Shane Smith, an 18-year industry veteran, has been chosen CEO, marking the second high-profile CEO transition in recent weeks at a major U.S. meat company, following Tyson Foods Inc’s (TSN.N) appointment last month. find out more The company, situated in Smithfield, Virginia, and controlled by Hong Kong’s WH Group Ltd (0288.HK), announced a management shakeup in January, with senior executives retiring. find out more During the COVID-19 epidemic, the meat industry in the United States was scrutinized when workers became ill and slaughterhouse closures exposed supply-chain flaws. Smith, a native of North Carolina, began working for Smithfield in 2003 as a financial analyst. He was most recently the company’s chief strategy officer, in charge of boosting sales through internal resources as well as mergers and acquisitions. Praveen Paramasivam contributed reporting from Bengaluru, and Devika Syamnath edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More