PILGRIMS PRIDE CORP0000802481false00008024812020-09-222020-09-22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 22, 2020
PILGRIM'S PRIDE CORPORATION
(Exact Name of registrant as specified in its charter)
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| Delaware | | 1-9273 | | 75-1285071 |
(State or other jurisdiction of
incorporation or organization) | | (Commission File Number) | | (IRS Employer Identification No.) |
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| 1770 Promontory Circle | | | 80634-9038 | |
| Greeley | CO | | (Zip Code) | |
| (Address of principal executive offices) | | | | |
Registrant's telephone number, including area code: (970) 506-8000
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | | Trading Symbol | | Name of Exchange on Which Registered |
| Common Stock, Par Value $0.01 | | PPC | | The Nasdaq Stock Market LLC |
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Executive Officer; Departure of Former Chief Executive Officer
On September 22, 2020, the Board of Directors of Pilgrim’s Pride Corporation (the “Company”) appointed Fabio Sandri, the Company’s Chief Financial Officer, to the additional role of President and Chief Executive Officer. As previously disclosed, effective June 15, 2020, Mr. Sandri was appointed to serve in the additional role of Interim President and Chief Executive Officer. The Company has initiated a search process to identify a new Chief Financial Officer.
Jayson Penn, who had been on a paid leave of absence from his role as the Company’s President and Chief Executive Officer since June 15, 2020, is no longer with the Company effective September 22, 2020.
Mr. Sandri, 49, has been the Company’s Chief Financial Officer since June 2011 and its Interim President and Chief Executive Officer since June 2020. From April 2010 to June 2011, Mr. Sandri served as the chief financial officer of Estacio Participações, the private post-secondary educational institution in Brazil. From November 2008 until April 2010, he was the chief financial officer of Imbra SA, a provider of dental services based in São Paulo, Brazil. Commencing in 2005 through October 2008, he was employed by Braskem S.A., a New York Stock Exchange-listed petrochemical company headquartered in Camaçari, Brazil, first from 2005 to 2007 as its strategy director, then from 2007 until his departure as its corporate controller.
Mr. Sandri earned his Masters in Business Administration in 2001 from the Wharton School at the University of Pennsylvania and a degree in electrical engineering in 1993 from Escola Politécnica da Universidade de São Paulo.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | PILGRIM’S PRIDE CORPORATION |
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| Date: | September 22, 2020 | | /s/ Fabio Sandri |
| | | Fabio Sandri |
| | | Chief Executive Officer and
Chief Financial Officer |