FDBusiness.com

Pilgrim’s Pride Corporation, a worldwide leader in poultry and prepared foods and the owner of Northern Ireland-based Moy Park, has appointed Jayson Penn, formerly President of Pilgrim’s USA, to succeed Bill Lovette, as President and Chief Executive Officer of Pilgrim’s Pride. Bill Lovette will remain available to provide strategic advisory services to the company through July 2020.

Gilberto Tomazoni, Chairman of the Board of Directors, comments: “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.

Billl Lovette was appointed President and CEO of Pilgrim’s Pride 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, Bill 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,” says Bill Lovette. “Jayson has been instrumental in building our strong culture and we back him with our full support.”

“I am extremely grateful to Bill for his mentorship, counsel and friendship,” Jayson Penn says. “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.”

Pilgrim’s employs approximately 52,100 people and operates chicken processing plants and prepared-foods facilities in 14 US states, Puerto Rico, Mexico, the UK, and continental Europe.