Smithfield CEO Switchup
The meatpacking industry has apparently been listening to “Another One Bites the Dust” on repeat. After Tyson’s CEO changeup last month, Smithfield has announced their own shakeup, naming Shane Smith the company’s new top dog.
And luckily, he’s got some experience in the bacon-makin’ department.
Smith comes equipped with 20 years of Smithfield experience, most recently serving as the company’s chief strategy officer after nearly a decade as executive VP of the company’s operations in Europe. The North Carolina native found his way to Smithfield as a financial analyst after years of experience in accounting.
Rearview mirror: Smith’s predecessor, Dennis Organ, had a rough first – and only – year as CEO, as Smithfield battled COVID-19 on the factory front and in the court of public opinion. He’s stepped down for personal reasons.
Tough road ahead. The new CEO will take on a lawsuit alleging the company stoked fears of a meat shortage in 2020. He’s also facing a shrinking hog supply. Add in government scrutiny of packer profits and industry competition, and the guy’s going to have his hands full.