Pilgrim’s Pride fires embattled former CEO Jayson Penn

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) has fired former CEO Jayson Penn as he continues to prepare for trial in a federal price-fixing investigation.

In a U.S. Securities and Exchange Commission filing Wednesday morning, the Greeley-based Pilgrim’s said it promoted Fabio Sandri to the full-time CEO position and named him president. He was formerly the company’s chief financial officer, but began serving as interim CEO in mid-June when Penn was given a leave of absence to focus on his defense.

Penn was no longer with the company effective on Tuesday, the filing reads.

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It’s unclear why Penn has been removed from the company now. A spokesman for the company did not immediately respond to a request for comment.

Penn and three other chicken industry executives were indicted by a federal grand jury in June amid a broader U.S. Department of Justice investigation into alleged anti-competitive actions within the sector. Similar lawsuits have been made against Pilgrim’s and other major chicken packing companies in recent weeks, including by Post Holdings Inc. (NYSE: POST) and a chicken-farming operation in Texas that seeks class action status.

Penn pleaded not guilty. His trial is set for Feb. 16 in Denver.

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