Jayson Penn to Succeed Bill Lovette as Global CEO of Pilgrim’s Pride
March 22 2019 - 9:12AM
Pilgrim’s Pride Corporation (NASDAQ: PPC), a worldwide leader in
poultry and prepared foods, today announced that its Board of
Directors has approved the appointment of Jayson Penn, current
President of Pilgrim’s USA, to succeed Bill Lovette, who is
retiring from the position of President and Chief Executive Officer
of Pilgrim’s Pride. Lovette will remain available to provide
strategic advisory services to the company through July 2020.
“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,
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.
“The Board is extremely grateful for Bill’s leadership, vision,
dedication and commitment,” Tomazoni said. “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.”
Lovette was appointed President and CEO by the Board of
Directors in January 2011 and, during his tenure, led a period of
unprecedented value creation for the company and its shareholders,
growing the business from $6.9 billion to $10.9 billion in annual
net revenue. Over the last eight years, Lovette helped establish
Pilgrim’s as a leading global food company by building a
diversified portfolio of brands and on-trend products, extending
the company’s footprint to the UK and Europe, significantly
expanding its presence in Mexico, investing in operations and
increasing margins and bottom-line profitability by partnering with
key customers to create shared success.
“I appreciate the commitment and support from our team
throughout this eight-year transformational journey to create the
company Pilgrim’s is today,” said Bill Lovette. “Jayson has been
instrumental in building our strong culture and we back him with
our full support.”
Penn will assume the position of President and CEO
immediately.
“I am humbled that the Board has given me the opportunity to
serve as Pilgrim’s CEO,” Penn said. “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.
“I am extremely grateful to Bill for his mentorship, counsel and
friendship,” Penn added. “Working alongside Bill for these last
eight years at Pilgrim’s has been the highlight of my career and
his constant support, leadership by example and strong work ethic
have made this seamless transition possible.”
Penn, an accomplished executive with more than 30 years of
experience, grew up in the poultry industry, beginning in his
family’s poultry company. He joined Pilgrim’s in March 2011 and has
served as Senior Vice President of the Commercial Business Group,
Executive Vice President of Sales and Operations and, most
recently, as President of Pilgrim’s USA. Prior to Pilgrim’s, Penn
served in management positions at several leading poultry
companies.
He has also 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.
He is a graduate of Florida State University in Tallahassee, Fla.,
and the Advanced Management Program at the Harvard Business School
in Cambridge, Mass.
About Pilgrim’s Pride
Pilgrim’s employs approximately 52,100 people and operates
chicken processing plants and prepared-foods facilities in 14
states, Puerto Rico, Mexico, the U.K, and
continental Europe. The Company’s primary distribution is
through retailers and foodservice distributors. For more
information, please visit www.pilgrims.com.
Media
Contacts:
Cameron
Bruett
202-445-6168
cameron.bruett@jbssa.com
Investor Relations:Dunham
Winoto970-506-8192
IRPPC@pilgrims.com
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