010244 Smithfield Reorganizes Hog Production Group

Smithfield, VA - Smithfield Foods, Inc. announced a reorganization of its Hog Production Group to take advantage of the considerable management talent presented by recent acquisitions that have built the largest hog production company in the world, more than three times the size of its nearest competitor.

Smithfield's new Hog Production Group will be named Murphy-Brown's Company and will be led by Jerry H. Godwin, who was named president and chief operating officer. Mr. Godwin previously was president and chief operating officer of Murphy Farms. Ronald G. Brown, previously president of Brown's of Carolina, will become president of a new division that will combine Brown's and Carroll's Foods hog operations. F.J. “Sonny” Faison, formerly president of Carroll's, will become a vice president of the new group. In their new positions, all of these gentlemen will report to Mr. Godwin, effective immediately.

Under the leadership of Mr. Brown, Smithfield founded Brown's in 1991. The company acquired Carroll's in 1999 and Murphy Farms in 2000. Together they produce 12 million hogs per year, about 12% of the hogs raised in the United States.

“Combining these three great companies will produce extraordinary synergies and opportunities,” said Mr. Godwin. “Substantial cost savings exist in the areas of transportation, logistics and purchasing. Most importantly, by consolidating the operations of the three companies, we will create a deep and diversified management group working together with greater effectiveness.”

Mr. Godwin said that all three companies have strong management teams and that he would have the luxury of drawing from several extraordinary executives to fill key management positions at Murphy- Brown's Company. He said that he would move quickly to name his new team.

Smithfield Foods also is the largest pork processor in the world and a major processed meats company. The company is the only major pork processor that has combined with hog raising operations in a vertical integration strategy.

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