April 4, 2008

Smithfield Foods announces senior management changes

Press Release

Smithfield Foods, Inc. has named George H. Richter president and chief operating officer of its pork group, a new position, effective April 28. The presidents of Smithfield Foods' five pork-processing companies will report to him.

A 34-year veteran of the pork industry, Richter has spent his entire career with Farmland. He has served as president of Farmland Foods, Inc. since Smithfield acquired the company in October 2003. Previously, he was president of the pork division of Farmland Industries and a member of the senior management council.

In other actions, Joseph W. Luter IV, currently president of Smithfield Packing Company, will become an executive vice president of Smithfield Foods and will concentrate on sales and marketing. Luter has served in several positions within Smithfield Foods since 1993.

James C. Sbarro will become president of Farmland. Sbarro has 25 years of experience in the food industry and has been senior vice president of sales, marketing, research and development at Farmland since 1999.

Tim Schellpeper, senior vice president of operations at Farmland, will become president of Smithfield Packing Company. A 21-year veteran in the pork industry, Schellpeper has been with Farmland for 17 years.

The changes will strengthen the overall management team and position the company to better manage its large domestic base of business, said Larry Pope, president and chief executive officer of Smithfield Foods.

"These managers will help in the coordination of the pork subsidiaries to better serve our continually-growing retail and foodservice customers. There are big opportunities across the organization to improve our operations and financial performance. This new team will be focused on developing these opportunities and maximizing the enormous potential of this company," said Pope.

With sales of US$14 billion, Smithfield Foods is the leading processor and marketer of fresh pork and packaged meats in the US, as well as the largest producer of hogs. Smithfield's domestic pork sales this year are forecast to exceed US$9 billion.