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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Seaboard Corporation
(Exact name of registrant as specified in its charter)
Delaware |
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1-3390 |
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04-2260388 |
(State or other jurisdiction of |
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(Commission |
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(I.R.S. Employer |
9000 West 67th Street, Merriam, Kansas |
66202 |
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock $1.00 Par Value |
SEB |
NYSE American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 25, 2024, Peter B. Brown, President and Chief Executive Officer of Seaboard Foods LLC (“Seaboard Foods”), a wholly owned subsidiary of Seaboard Corporation (the “Company”), gave notice of his intention to retire from Seaboard Foods effective June 28, 2024.
Chad Groves has been appointed to succeed Mr. Brown as President and Chief Executive Officer of Seaboard Foods effective upon Mr. Brown's retirement. Prior to this appointment, Mr. Groves served as Senior Vice President of Global Sales, Marketing, & Innovation of Seaboard Foods.
Item 7.01 Regulation FD Disclosure
On March 25, 2024, the Company issued a press release announcing the management changes disclosed above under Item 5.02. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished in this Item 7.01 — “Regulation FD Disclosure” of this Current Report on Form 8-K and the press release attached hereto as Exhibit 99.1 shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits
Exhibits
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Date: March 25, 2024 |
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Seaboard Corporation |
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(Registrant) |
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By: |
/s/ David H. Rankin |
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David H. Rankin Executive Vice President, Chief Financial Officer |
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(principal financial officer) |
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Exhibit 99.1
SEABOARD FOODS NAMES CHAD GROVES AS PRESIDENT AND CEO TO SUCCEED PETER BROWN AFTER RETIREMENT
MERRIAM, Kan., March 25, 2024
Seaboard Corporation (NYSE American: SEB) today announced that it has named Chad Groves as the next President and Chief Executive Officer of its pork division, Seaboard Foods LLC (Seaboard Foods), to succeed Seaboard Foods' current President and Chief Executive Officer, Peter Brown, who announced that he will be retiring, effective June 28, 2024.
Mr. Brown joined Seaboard Foods in January 2021 after more than 30 years of executive leadership experience in the protein industry, including leadership positions with Butterball and High Liner Foods. Seaboard would like to thank Mr. Brown for his leadership of the organization over the past three years.
“Peter was a key leader on Seaboard’s executive management team and we wish him all the best in his upcoming retirement,” said Seaboard Corporation President and Chief Executive Officer, Bob Steer.
Mr. Groves has served as Senior Vice President of Global Sales, Marketing, & Innovation at Seaboard Foods since July 2021, where he has led the retail, foodservice, export, processor sales, marketing, sustainability, and innovation teams. Before joining Seaboard Foods, Mr. Groves was most recently the Vice President of Sales – Retail & Foodservice at Trilliant Food & Nutrition LLC and, prior to that, Vice President of Field Sales – Foodservice at High Liner Foods.
Mr. Groves holds a Bachelor of Science in selling and sales management from Purdue University and an MBA from University of North Carolina at Chapel Hill. He is a member of the Board of Directors and serves as Treasurer for the National Pork Board.
About Seaboard Corporation:
Seaboard Corporation is a diversified international agribusiness and transportation company, primarily engaged in domestic pork production and processing and cargo shipping. Overseas, Seaboard is primarily engaged in commodity merchandising, flour and feed milling, sugar and alcohol production and electric power generation.
About Seaboard Foods:
As part of a uniquely connected food system, Seaboard Foods relentlessly seeks a better way to produce wholesome Prairie Fresh® pork by purposely connecting every step between its farms and family tables around the world. Seaboard Foods’ continued commitment to creating the most sought-after pork ensures the well-being of its animals, the environment, employees and the communities they call home. Headquartered in the Kansas City metropolitan area, products sold internationally are marketed under the Prairie Fresh® and Seaboard Foods® brands.