Pilgrim's Pride names restructuring officer

By Lisa Kerner

Charlotte, N.C., Nov. 11 - Pilgrim's Pride Corp. appointed William K. Snyder as chief restructuring officer to assist the company in capitalizing on cost-reduction initiatives, developing restructuring plans and exploring opportunities to improve its long-term liquidity.

Snyder, managing partner of Dallas-based CRG Partners Group, LLC, will report to the company's board of directors or a committee of the board, a company news release said.

Pilgrim's Pride president and chief executive officer Clint Rivers said Snyder will play a pivotal role in working with the company's outside advisers and lenders "on a business and restructuring plan that addresses the financial and operational challenges currently facing Pilgrim's Pride."

In September, Pilgrim's Pride announced it would consider a range of strategic issues and operational improvement with the assistance of Lazard and Bain Corporate Renewal Group.

Pilgrim's Pride is a Pittsburgh-based poultry producer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.