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Pilgrim's Pride Appoints Fabio Sandri As Chief Financial Officer

Stocks in this article: PPC

GREELEY, Colo., June 3, 2011 /PRNewswire/ -- Pilgrim's Pride Corporation (NYSE: PPC) today announced that it has appointed Fabio Sandri as chief financial officer of the company, effective immediately.  Mr. Sandri succeeds Gary D. Tucker, 62, who has announced his retirement after eight years with the company, most recently as principal financial officer and chief accounting officer.

Mr. Sandri, 39, previously served as chief financial officer of Estacio Participacoes, the largest private post-secondary educational institution in Brazil, a post he had held since April 2010.  Prior to that, he spent nearly two years as the chief financial officer of Imbra SA, a provider of dental services based in Sao Paolo, Brazil.  From 2005 to 2008, Mr. Sandri served as strategy director and corporate controller for Braskem S.A., a New York Stock Exchange-listed petrochemical company headquartered in Camacari, Brazil.  He earned a Master's in Business Administration from the Wharton School at the University of Pennsylvania and a degree in electrical engineering from Escola Politecnica da Universidade de Sao Paulo.  

" Gary Tucker has played an important role in Pilgrim's successful financial restructuring and subsequent integration with JBS USA.  With that integration now largely complete, we both agreed that this is the right time for a transition.  We deeply appreciate his many contributions to our company over the past eight years.  His leadership and guidance will be missed by all who have worked with him," said Bill Lovette, president and chief executive officer.  "At the same time, we are fortunate to welcome Fabio to the Pilgrim's management team.  We believe his significant experience in strategic planning and financial management will serve our company and our shareholders well."

Mr. Sandri will begin work on Monday, June 6, and will be relocating to northern Colorado from Brazil later this year.

About Pilgrim's Pride

Pilgrim's employs approximately 42,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico.  The Company's primary distribution is through retailers and foodservice distributors.  For more information, please visit http://www.pilgrims.com.

Contact:     Gary Rhodes                  Vice President, Corporate Communications & Investor Relations                  (903) 434-1495

SOURCE Pilgrim's Pride Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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