SOURCE: Swift & Company

July 05, 2005 12:10 ET

Swift & Company Board Adds Three Directors

Dunkin Brands' CFO, HMTF Principal and New Swift CEO Join Board

GREELEY, CO -- (MARKET WIRE) -- July 5, 2005 -- Kate S. Lavelle, Chief Financial Officer of Dunkin Brands, Inc., Edward Herring, principal of Hicks, Muse, Tate & Furst, Incorporated (HMTF), and Sam Rovit, newly appointed president and CEO of Swift & Company, have been added to the board of directors of Swift, the world's second-largest beef and pork processor with $10 billion in sales last year.

Rovit joined Swift & Company July 1 as president and CEO from Bain & Company, where he headed that leading strategy consultant's global mergers and acquisitions practice. He is regarded as a foremost expert in food industry value-creation strategies.

The election of the new members brings the Swift & Company board membership to eight.

"We are extremely pleased to have three new directors with the quality of credentials that Kate Lavelle, Edward Herring and Sam Rovit possess," said George Gillett, chairman of the Swift & Company board of directors. "Kate has outstanding experience in the corporate accounting arena, Edward has an in-depth knowledge of the industry and has been involved in all of Swift's corporate financial initiatives since the company's inception in 2002, and Sam is an outstanding addition, both to the company and the board."

Lavelle joined Dunkin Brands from LSG Sky Chefs, where she served as Global Senior Vice President and Chief Accounting Officer. She also was employed for more than 10 years at Arthur Andersen, LLP.

Herring joined HMTF in 1998, and has been instrumental in the development and execution of the firm's energy and food sector investment initiatives. He played an active role in the execution and oversight of the firm's investment in Swift & Company in 2002. Prior to joining HMTF, he was an investment banker with Goldman, Sachs & Co.

Other members of the Swift & Company board of directors include:

--  George Gillett Jr., Chairman of the Swift & Company board and Chairman
    of the Board for both Booth Creek Management Corp. and Booth Creek Ski
    Holdings, Inc.
--  Joe Colonnetta Jr., Partner, Hicks, Muse, Tate & Furst, Incorporated
--  Gregg L. Engles, CEO, Dean Foods Company
--  Michael D. Kelly, former Executive Vice President of Marketing, The
    Restaurant Company
--  John R. Muse, President, Hicks, Muse, Tate & Furst, Incorporated
Swift & Company is the world's second-largest processor of fresh beef and pork products, and the leading beef processor in Australia. Founded in 1855, Swift has more than 20,000 employees worldwide and had sales of $10 billion last year.

Contact Information

    Jim Herlihy
    Swift & Company