Smithfield Foods CEO steps down, veteran exec takes over
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.
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.
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.