Meat + Poultry - April 2005 - 3

April 2005

THE FRONT PAGE
U.S.D.A. unveils MyPyramid
WASHINGTON, D.C. - U.S. Agriculture Secretary Mike Johanns has announced the replacement of the Food
Guide Pyramid with MyPyramid, a new
symbol and interactive food
guidance system.
The new system is based on
the slogan, "Steps to a healthier you," and is designed to
allow Americans to personalize their approach to matching diet with nutritional needs.
The new system supplements President
Bush's HealthierUS initiative, which

is designed to allow Americans to live
longer, healthier lives. MyPyramid replaces the Food Guide Pyramid, which
was introduced in 1992, and is based
on a food guidance system stressing individual
factors when diet and lifestyle choices are made.
"MyPyramid is about
the ability of Americans to
personalize their approach
when choosing a healthier
lifestyle that balances nutrition and exercise," said Johanns. "Many Americans

can dramatically improve their overall health by making modest improvements to their diets and by incorporating regular physical activity into their
daily lives."
MyPyramid utilizes recommendations made in the 2005 Dietary Guidelines for Americans, which was released by U.S.D.A. and the U.S. Dept.
of Health and Human Services this past
January. MyPyramid was developed to
carry the messages of the dietary guidelines and to make Americans aware of
the health benefits modest improvements in nutrition, physical activity and
lifestyle behavior.

Swift sustains $20.7 million third quarter loss and resignation of C.E.O.
GREELEY, COLO. - Just three days after announcing its third quarter results of
fiscal year 2005, executives with Swift &
Co. announced the resignation of John
Simons, its president and C.E.O. Officials did not offer an explanation for the
departure of Simons. He will be temporarily replaced by Dennis Henley, president of the company's North American
Red Meat division, and Danny Herron,
executive vice president and chief financial officer, while a search is conducted
for a permanent replacement. Simons
joined ConAgra Beef Co., predecessor to
Swift, as president in May 1999.
"John has provided strong leadership
to Swift & Co. and has seen it through
dramatic changes," said George Gillett Jr., chairman of the board. "Under
his direction, Swift has grown and progressed into a much stronger organization."
Simons also issued a statement, saying, "I'm proud of the Swift team we've
assembled and what we've accomplished
together, and I have every confidence in
Danny and Dennis to continue to lead the
team in the months and years ahead."
"Largely because of his efforts, Swift

today is a company in a very
Net sales of Swift's U.S. beef
solid financial condition and
segment were $1.34 billion for
with a skilled and successful
the third quarter, up 2 percent
management team. We wish
from one year ago. Selling
John well in his future endeavprices were 6.6 percent higher
ors," said John Muse, also a
on lower volumes.
member of the Swift board
Swift's pork division recordand chairman of Hicks, Muse,
ed a 15 percent increase in net
Simons
Tate & Furst, Inc., the majority
sales during the quarter, versus
owner of Swift.
the same period one year ago - $532.4
Just days prior to the resignation an- million versus $462.9 million. The innouncement, the company announced crease reflected a 20 percent increase in
its fiscal year 2005 third quarter results. average selling prices partially offset by
Swift reported a loss of $20.7 million a 4 percent decline in volumes.
during the third quarter, which ended
The company's Australian beef interFeb. 27, compared to losses of $40.6 ests once again enjoyed a strong quarmillion during the same period of fiscal ter with an 11.3 percent increase in net
2004. Company executives attribute the sales to $401.7 million from $361.1 millosses to the discovery of bovine spon- lion this past year. The increase primargiform encephalopathy in the United ily reflected a 12.8 percent increase in
States in December 2003 and the trade sales prices partially offset by a 2.1 perrestrictions that followed.
cent decrease in volume. In addition,
From a sales perspective, Swift the Australian dollar to U.S. dollar exachieved a 6.2 percent increase in sales change rate increased an average of 1.8
during its fiscal year 2005 third quarter. percent between the two periods.
Net sales increased $132.7 million dur"Swift Australia continues to capitaling the quarter to a total of $2.26 billion. ize on the void left by the absence of
Higher selling prices helped offset de- North American beef in the Asian marclines in sales volume across the board. ketplace," Simons said.
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