Smithfield Foods, Inc. (NYSE: SFD) yesterday announced the appointment of Robert A. Sharpe, II to the newly created-position of president, international operations.
“Smithfield Foods has made significant investments outside of the United States over the past three years,” said Joseph W. Luter, III, chairman, chief executive officer and president. “Our experience has encouraged us that tremendous growth opportunities are available to S
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mithfield in the international arena. I am pleased to welcome Bob Sharpe back to Smithfield Foods and expect to take considerable advantage of his international experience as we pursue this growth,” he added.
Mr. Sharpe, 43, previously was executive vice president, Fairchild Fasteners and senior vice president, operations and strategy with The Fairchild Corporation. During his five-year tenure with the aerospace concern, he played a significant role in the company’s more than 300 percent growth and the establishment of its leadership position in Europe and the Far East. Prior to joining Fairchild, Mr. Sharpe was vice president, corporate development at Smithfield Foods.
“Part of Smithfield’s outstanding growth record has been achieved by opportunistically acquiring well-positioned companies with strong management teams and giving them the support they need to win in their respective markets,” said Mr. Sharpe. “We expect to continue this strategy internationally,” he said.
Smithfield Foods has delivered a 28 percent average annual compounded rate of return to investors since 1975. In the last 15 years, the company’s share price has outperformed the S&P 500 Index by more than 350 percent. With annual sales of $6 billion, Smithfield Foods is the leading processor and marketer of fresh pork and processed meats in the United States, as well as the largest producer of hogs. For more information, please visit http://www.smithfieldfoods.com .
This news release may contain “forward-looking” information within the meaning of the federal securities laws. The forward-looking information may include statements concerning the Company’s outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. These risks and uncertainties include availability and prices of live hogs, raw materials and supplies, live hog production costs, product pricing, the competitive environment and related market conditions, operating efficiencies, access to capital, the cost of compliance with environmental and health standards, adverse results from ongoing litigation and actions of domestic and foreign governments.
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