Pilgrim’s Pride has fired and replaced its embattled CEO, who is under federal indictment for allegedly fixing poultry prices.
Jayson Penn, who took a paid leave of absence from Pilgrim’s Pride after his indictment in June, was replaced by CFO Fabio Sandri, who had been serving as interim CEO. Penn is no longer with the company.
“I am humbled and excited to be selected by the Board to lead Pilgrim’s in our next stage of growth and opportunity for our team members,” Sandri said in a statement. “I look forward to working alongside our strong team of professionals around the globe who are committed to realizing Pilgrim’s vision to be the best and most respected company in our industry.”
Indictments charged Penn, another Pilgrim’s Pride executive, and two executives from Claxton Poultry Farms with conspiring to fix prices on bids for broilers from 2012 to 2017. Pilgrim’s Pride is majority-owned by JBS USA.
