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May 7, 2002

USA: Pennexx Foods appoints new CFO

Pennexx Foods, a provider of case-ready meat to retail supermarkets in the Northeast US, has announced that George B. Pearcy has joined the company as CFO, with responsibility for all aspects of finance and administration. Pearcy will report directly to Michael Queen, president and CEO.

Pennexx Foods, a provider of case-ready meat to retail supermarkets in the Northeast US, has announced that George B. Pearcy has joined the company as CFO, with responsibility for all aspects of finance and administration.

Pearcy will report directly to Michael Queen, president and CEO.

Queen commented: “Appointing Pearcy is another milestone for Pennexx and marks a key step in building our senior executive management team.

“His experience in implementing systems and controls, managing financial reporting and analysis, and cultivating relationships with the investment community will be a tremendous asset to our team.”

Queen concluded: “The appointment of George is very timely, as it coincides with the transition into our new Philadelphia facility. His expertise will help us build a more disciplined organisation with proper financial controls in place to give us a solid foundation for our next phase of growth.

“Once the significantly larger facility becomes fully operational, his contributions will enable us to meet our overall goals for operational and fiscal excellence.”

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