December 27, 2007

Pilgrim's Pride names acting president

The board of Pittsburg, Texas-Pilgrim's Pride elected Chairman Lonnie Ken Pilgrim to fill the post of interim president following the death of CEO O.B. Goolsby Jr.

Pilgrim's Pride said in a Securities and Exchange Commission filing that it has formed a search committee to find a new permanent CEO, but has not set a timeline for a decision. Pilgrim will maintain the position until such a time when a replacement can be found.

Goolsby died on Monday (December 24, 2007), two days after suffering a massive stroke during a hunting trip with customers.

Pilgrim's Pride is the largest chicken producer in the United States and Puerto Rico and the second-largest chicken producer in Mexico. Presently, there are approximately 56,000 employees within the company with sales of US$5.2 billion in 2006.

Pilgrim's Pride products are sold to foodservice, retail and frozen entree customers. The company's primary distribution is through retailers, foodservice distributors and restaurants throughout the United States and Puerto Rico and in the Northern and Central regions of Mexico. Pilgrim's Pride also owns one turkey facility in Pennsylvania and operates a separate distribution wing, known as PFS Distribution.