Pilgrim Pride: chief executive resigns
Pilgrim's Pride Corp announced on Tuesday that its chief executive and chief operating officer have resigned as part of the bankruptcy process.
Pilgrim's Pride Corp has filed for bankruptcy protection earlier this month.
President and chief executive of the largest US chicken company Clint Rivers, and Robert Wright, its chief operating officer, are stepping down.
According to the company, Don Jackson will take over as president and chief executive, subject to approval of the bankruptcy court. He was previously president of Foster Farms' poultry division.
The company confirmed that until the court can approve his appointment, Board Chairman Lonnie Ken Pilgrim will serve as interim president.
Over the last year, Pilgrim's Pride has faced high feed costs and low meat prices. It has said it intends to operate normally while it develops a reorganisation plan.
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