GREELEY, COLO. – Officials with Pilgrim’s Pride Corp. announced on March 28, that Michael Cooper will retire from his position on the company’s board of directors effective April 27, 2022, which is the date of its annual shareholders meeting. Cooper joined the board after being appointed as one-half of an equity committee by the US Bankruptcy Court. The company filed for Chapter 11 bankruptcy protection on Dec. 1, 2008, which saw it close and sell plants in light of high input costs and excessive debt. During his 25 years working in the poultry industry, Cooper also was the managing director and vice chairman emeritus of Kincannon & Reed, an executive search firm focused on the food and agriculture industries.
Pilgrim’s Pride said during his 13 years serving on the board, Cooper was integral to the company’s emergence from bankruptcy, including selling a majority share if the company to JBS SA, all while retaining Pilgrim’s initial stock value.
“As an independent equity director, Michael did an outstanding job as chairman of the audit committee, and as a member of the equity nominating committee and compensation committee,” said Gilberto Tomazoni, chairman of the board. “In his role on the board, he is credited with helping us drive the strategic direction of the company through both generic and acquisition-related growth. He will be missed on the board. We wish him all the best as he begins this next chapter of his life.”