000255 WLR Foods Searching for Successor to KeelerJanuary 29, 2000Broadway, VA - WLR Foods, Inc. announced that its Board of Directors has appointed a committee to initiate a national search for a successor to James L. Keeler, President and Chief Executive Officer, who is planning to retire next year. The Company will retain an executive search firm to assist in the process. The final year of Mr. Keeler's employment agreement with the Company, which commences July 1, 2000, is designated as a transition year to allow Mr. Keeler and the Board of Directors to identify a successor. Mr. Keeler will continue to operate in his current position until a successor is selected. He has agreed to remain with the Company until the process is completed if a successor is not found by the end of the employment agreement. Mr. Keeler commented, “Over the past two years, we at WLR Foods have made enormous progress in improving our operations and our balance sheet and reducing sales of basic commodity products. We have adopted a strategic plan that will position the Company to further develop its status as a market leader for value- added poultry products. With WLR Foods on a strong footing, and having a very competent management team reporting to me, I am now ready to assist the Board in finding the appropriate person to lead the Company into the future. We have begun this process early to provide ample time to select the best candidate for this crucial position.” WLR Foods is a fully integrated provider of high quality turkey and chicken products primarily under the Wampler Foods(r) brand. It is nationally ranked as the seventh largest poultry processor by sales volume and is an international leader in poultry exports. WLR Foods has processing operations in Virginia, North Carolina, West Virginia, and Pennsylvania.
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