UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
report (Date of earliest event reported): March 5, 2008
PILGRIM'S
PRIDE CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
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Delaware
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1-9273
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75-1285071
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(State
or Other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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4845
US Hwy. 271 N
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Pittsburg,
Texas
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75686-0093
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(Address
of Principal Executive Offices)
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(ZIP
Code)
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Registrant's
telephone number, including area code: (903) 434-1000
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:
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q
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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q
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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q
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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q
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
5.02. Departure of Directors or Principal
Officers; Election of Directors; Appointment of Principal
Officers.
RIVERS elected
president and chief executive officer by Pilgrim's Pride board of
directors.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits
Exhibit
Number
Description
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99.1
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Press
Release dated March 5, 2008.
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Signatures
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.
PILGRIM'S
PRIDE CORPORATION
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Date: March
5, 2008
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By:
/s/ Richard A.
Cogdill
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Richard
A. Cogdill
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Executive
Vice President, Chief Financial Officer,
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Secretary
and Treasurer
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Exhibit
Index
Exhibit
Number Description
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99.1
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Press
Release dated March 5, 2008.
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RIVERS
ELECTED PRESIDENT AND CHIEF EXECUTIVE OFFICER BY PILGRIM’S PRIDE BOARD OF
DIRECTORS
PITTSBURG,
Texas, March 5, 2008 – Pilgrim's Pride Corporation (NYSE: PPC), the world’s
largest chicken company, today said its board of directors unanimously elected
J. Clinton Rivers as president and chief executive officer, effective
immediately. Mr. Rivers, 49, previously served as chief operating
officer.
A special
subcommittee of the board had been conducting a search for a new president and
CEO following the unexpected death of O.B. Goolsby Jr. last
December.
“After a
thorough review of internal and external candidates, the board unanimously
agreed that Clint has the right combination of experience and skills necessary
to lead Pilgrim’s Pride into the future,” said Ken Pilgrim, chairman of
Pilgrim’s Pride and chairman of the subcommittee that conducted the
search. “Our company and industry are facing unprecedented challenges
from soaring feed-ingredient costs and other issues. Throughout his
career at Pilgrim’s Pride, Clint has played a pivotal role in positioning the
company for operational growth, leading the integration of several large
acquisitions, establishing key performance benchmarks at our production
facilities, and finding new ways to operate more efficiently. Clint
loves a challenge, and we are confident that he will provide the leadership
necessary to position the company for long-term growth.”
During
his career at Pilgrim’s Pride, Mr. Rivers has held a variety of increasingly
responsible management positions. He joined the company as quality
assurance manager in 1986. He was appointed plant manager of the Mt. Pleasant,
Texas, production facility in 1989. Three years later, Mr. Rivers was
promoted to vice president of prepared foods operations in 1992, then moved up
to senior vice president of prepared foods operations, a post he held until
2002. After that, he was promoted to executive vice president of
prepared foods operations. In 2004, he was appointed
COO. Mr. Rivers earned a Bachelor of Science degree in animal science
from Virginia Tech in Blacksburg, Virginia.
“I am
proud and honored to lead a company with such a rich history of innovation and
service to our customers,” said Mr. Rivers. “It’s clear that we have
a lot of work ahead of us, but I know that our 55,000 employees are ready to
deliver on our mission of being a world-class food company.”
Mr.
Pilgrim said no decision has been made at this time about a new
COO.
About
Pilgrim’s Pride
Pilgrim’s
Pride Corporation is the largest chicken company in the United States and Puerto
Rico and the second-largest in Mexico. Pilgrim’s Pride employs
approximately 55,000 people and operates 37 chicken processing and 12
prepared-foods facilities, with major operations in Texas, Alabama, Arkansas,
Florida, Georgia, Kentucky, Louisiana, North Carolina, Pennsylvania, South
Carolina, Tennessee, Virginia, West Virginia, Mexico and Puerto Rico as well as
other facilities in Arizona, Iowa, Mississippi, Ohio and Utah.
Pilgrim's
Pride products are sold to foodservice, retail and frozen entree customers. The
Company's primary distribution is through retailers, foodservice distributors
and restaurants throughout the United States and Puerto Rico and in the Northern
and Central regions of Mexico. For more information, please visit http://www.pilgrimspride.com.
Contact: Gary
Rhodes
Vice
President, Corporate Communications and Investor Relations
(903)
434-1495