Smithfield Foods Inc. announced that C. Larry Pope, chief executive officer, will retire from the company, effective December 31, 2015, following a distinguished 35-year career. Kenneth M. Sullivan, Smithfield's president and chief operating officer, will succeed Pope as chief executive officer upon his retirement.
"It has been an honor and a privilege to lead Smithfield over the past nine years," said Pope. "This planned leadership transition comes at a time of strength and growth for Smithfield. 2014 and 2015 have been the two best years in Smithfield's history for financial performance and I believe the company is primed for ongoing success. Since February, the Smithfield family has been hard at work implementing our ‘One Smithfield' initiative aimed at solidifying the company's position as a global leader in branded packaged meats. During this time, we have unified Smithfield and made the company stronger and more efficient to better support our people, brands and customers. We have also put in place the next generation of leadership to ensure Smithfield's success long into the future. I am extremely pleased with what we have achieved during my tenure as CEO and think the future is even brighter with the management team that we have put in place over the past two years. As such, I believe now is the right time for me to retire and allow this team to bring new excitement, energy, ideas and perspectives to the company."