Business

Smithfield Foods CEO steps down, veteran exec takes over

2 minute read

Workers walk out of Smithfield Foods pork plant as the spread of the coronavirus disease (COVID-19) continues, in Sioux Falls, South Dakota, U.S., April 16, 2020. REUTERS/Shannon Stapleton/File Photo

July 9 (Reuters) - Smithfield Foods, the world's largest pork processor, said on Friday Chief Executive Officer Dennis Organ is stepping down for personal reasons less than a year after taking the helm.

It has appointed 18-year company veteran Shane Smith to the top role, in the second high-profile CEO change in recent weeks at a major U.S. meat company after Tyson Foods Inc (TSN.N) named a new chief last month. read more

The Smithfield, Virginia-based company, owned by Hong Kong's WH Group Ltd (0288.HK), in January unveiled a management shakeup that saw several executives retire. read more

The U.S. meat industry came under the microscope during the COVID-19 pandemic as workers got sick and slaughterhouse shutdowns highlighted supply-chain vulnerabilities.

A North Carolina native, Smith joined Smithfield as a financial analyst in 2003. He was most recently its chief strategy officer, overseeing the company's efforts to boost sales through its own resources as well as mergers and acquisitions.

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Reporting by Praveen Paramasivam in Bengaluru; Editing by Devika Syamnath

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