Sector News

Jayson Penn named as Pilgrim’s Pride CEO as Bill Lovette retires

March 25, 2019
Food & Drink

JBS-owned chicken processor Pilgrim’s Pride has appointed Jayson Penn as its new CEO with immediate effect.

Penn, who was previously president of Pilgrim’s USA, succeeds Bill Lovette, who is retiring from his role but will remain available to provide advisory services to the company until July 2020.

Joining Pilgrim’s in March 2011, Penn has also served as senior vice president of the commercial business group and executive vice president of sales and operations. He has served on the board of directors and the executive committee of the USA Poultry and Egg Export Council and currently serves on the board and executive committee of the National Chicken Council and the board of directors of The World Poultry Foundation.

“Jayson Penn has enjoyed a distinguished career in the poultry industry and has played an integral role in the success of Pilgrim’s over the last eight years,” said Gilberto Tomazoni, Pilgrim’s Pride chairman of the board of directors.

“Since joining the company in March 2011, Jayson has exemplified the leadership qualities, passion to succeed and business acumen that make him the ideal candidate to assume this role. The board’s decision is further validation of the Pilgrim’s strategy, implemented in 2012, to create a unique, diversified portfolio across multiple geographies, with a focus on key customers and operational excellence, to generate more consistent and higher margins. Jayson has been at the forefront of this strategy and we are confident in his ability to continue to create shareholder value.

Jayson Penn said: “I am humbled that the board has given me the opportunity to serve as Pilgrim’s CEO. Pilgrim’s has been on a remarkable journey of growth, building a strong culture of empowerment and providing our customers and consumers with high-quality, innovative solutions that allow them to thrive. We are a global team of more than 52,000, unified in mission and purpose, and I am excited to help guide our team in the next steps of our journey.

Lovette was appointed Pilgrim’s CEO in January 2011 and during his tenure led a period of unprecedented value creation for the company, growing the business from $6.9 billion to $10.9 billion in annual net revenue.

The company said that over the last eight years he has extended the company’s footprint to the UK and Europe, significantly expanding its presence in Mexico.

Tomazoni added: “The board is extremely grateful for Bill’s leadership, vision, dedication and commitment. His legacy at Pilgrim’s will endure through the strong management team and unique business platform he developed, which will position the company for continued growth and success.”

In 2017, Pilgrim’s Pride announced a deal to acquire Northern Ireland-based poultry producer Moy Park from JBS for £1 billion.

By Jules Scully

Source: FoodBev

comments closed

Related News

June 24, 2022

Carlsberg announces resignation of CFO Heine Dalsgaard

Food & Drink

Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.

June 24, 2022

Kellogg to split into three companies, focus on snacks

Food & Drink

Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.

June 24, 2022

Mondelēz to buy energy bar company Clif Bar for $2.9bn

Food & Drink

The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.