Pilgrim’s Pride CEO and COO resign
PITTSBURG, Texas Pilgrim’s Pride Corp., one of the largest chicken producers in the United States, announced Tuesday that its CEO and COO have stepped down due to the bankruptcy process that it started earlier this month when it filed for bankruptcy.
President and CEO Clint Rivers, as well as chief operating officer Robert Wright, have resigned. Don Jackson, formerly president of Foster Farms’ poultry division, will be filling the role of president and chief executive, following approval by the bankruptcy court. In the meantime, Lonnie Ken Pilgrim, the company’s board chairman, will be interim president.
The company plans to restructure its operations but will be operating as usual while it determines its next steps out of bankruptcy.
Kraft taps Clarke, former Coca-Cola exec, to head European operations
ZURICH, Switzerland Kraft Foods has names Michael Clarke to leads its European division as president, reports said Monday.
Clarke has served as an executive for Coca-Cola Co. for more than a decade. His most recent title was president of the Coca-Cola Northwest Europe, Nordics business unit.
At Kraft, Clarke will oversee the Kraft Europe operation and report to Irene Rosenfeld, Kraft chairman and chief executive officer. The position of president has been vacant since this summer.
Hy-Vee adds to its pharmacy reach with purchase of two independents
WEST DES MOINES, Iowa Supermarket and pharmacy retailer Hy-Vee Inc. has purchased two more independently owned pharmacies in its home state.
The deals include the buyout of a Medicap Pharmacy in Clarinda, Iowa and Boyes Pharmacy, an independent located in Faribault, Iowa. Terms were not disclosed.
The inventory and prescription files in Faribault were moved Monday to the Hy-Vee combination food-drug store in that town, but Hy-Vee said it would continue to operate the Medicap in Clarinda as a stand-alone satellite pharmacy of its nearby Hy-Vee unit, beginning Jan. 12, 2009.
In line with that decision, the chain revealed plans to remodel its Clarinda supermarket and add a pharmacy department to the store. When the renovation is complete, Hy-Vee said it will close the satellite drug store and move those script files to its remodeled combo store.
Plans for the Clarinda model are “still in the drawing stage,” Hy-Vee announced, adding “a construction timetable has not been established yet.”
The owners of both independent drug stores indicated that the dismal economic climate played a big role in their decision to sell. “It’s in the best interest of our patients and staff to be part of an organization as stable as Hy-Vee so that the pharmacy business can remain strong in Clarinda well into the future,” said Medicap owner Steve Mowery. He added that “small town pharmacies are very vulnerable in these shifting economic times.”
Hy-Vee, for its part, appears to be riding out the stormy economy by scooping up some weaker drug store competitors. The chain now operates 224 supermarkets, food-drug combo stores and stand-alone pharmacies in seven Midwestern states, including a total of some 200 pharmacies.