Smithfield Foods CEO to retire in early 2021

In this news, we discuss the Smithfield Foods CEO to retire in early 2021.

(Reuters) – Smithfield Foods Inc, the world’s largest pork processor, announced on Monday that its chairman and chief executive, Kenneth Sullivan, will retire in early 2021 after five years at the helm.

The company, which is owned by Chinese group WH Group Ltd 0288.HK, also said that Dennis Organ, chief operating officer in the United States, will replace Sullivan as CEO and chairman.

Organ joined Smithfield in 2010 and has been in his current role since 2019.

The first four years of Sullivan’s tenure marked the highest profit spells in the company’s history, Smithfield said, before the COVID-19 pandemic hit its business in part due to outbreaks of coronavirus in some of its factories.

Report by Praveen Paramasivam in Bengaluru; Editing by Krishna Chandra Eluri

Original © Thomson Reuters

Originally posted 2020-10-19 08:16:10.

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