Pilgrim’s Pride Announces Major Restructuring: A £4.2 Billion Transformation with Brazilian Leadership
New Chapter for UK’s Protein Industry as Pilgrim’s Pride Integrates European Operations
Pilgrim’s Pride, a leading protein company, has initiated a sweeping £4.2 billion restructuring plan, bringing in a new European executive team. The move aims to seamlessly integrate its key UK businesses: Moy Park, Pilgrim’s UK, and Pilgrim’s Food Masters.
Pilgrim’s Europe: A Vision Under Brazilian Leadership
Under the leadership of Ivan Siqueira, Pilgrim’s UK’s Brazilian president, Pilgrim’s Europe will emerge as a unified entity. Siqueira, now President of Pilgrim’s Europe, oversees Moy Park, Pilgrim’s UK, Pilgrim’s Food Masters, and Pilgrim’s Shared Services. The new team, consisting of 15 senior executives, will develop an integrated operating model for JBS’s European ventures.
Controversy Amidst Transformation: Concerns Over Execution and Diversity
However, the restructuring announcement, described as “brutal and punishing,” has sparked controversy. Critics have condemned the execution of the restructure, citing potential harm to trading relationships and the influx of Brazilian executives. Alarmingly, many senior figures, crucial during the pandemic and cost of living crisis, were dismissed without prior communication.
The Team at the Helm: A Blend of Old and New
The new Pilgrim’s Europe executive team includes a mix of existing and new members. Joining Siqueira are Guilherme Cardozo, Raphael Lomonaco, and Ivanor Clasen, among others, bringing diverse expertise to the table.
Gender Diversity: A Missed Opportunity?
Critics also highlighted the lack of gender diversity in the new executive team, with only two women included, raising questions about the commitment to inclusive leadership.
Future Prospects: Pilgrim’s UK Responds
In response to the outcry, a Pilgrim’s UK spokesperson emphasized the continuation of current roles and denied any immediate job risks. The restructuring is seen as a step towards creating the UK’s largest food business, with Siqueira promising an exciting future with greater collaboration and synergies.
Pilgrim’s Pride’s Bold Move: Stability Amidst Change
As Pilgrim’s Europe shapes up, the existing executive teams of individual businesses will remain intact, ensuring no immediate changes in operational models. This transition period aims to maintain stability while setting the stage for Pilgrim’s Europe’s ambitious future.