8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 15, 2006

SMITHFIELD FOODS, INC.

(Exact name of registrant as specified in its charter)

Virginia	1-15321	52-0845861
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 Commerce Street Smithfield, Virginia	23430
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (757) 365-3000

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 (see General Instruction A.2. below):

¨ 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))

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On June 15, 2006, Joseph W. Luter, III, the Chairman of the Board of Directors and Chief Executive Officer of Smithfield Foods, Inc. (the “Company”), announced that he plans to relinquish the title of Chief Executive Officer of the Company effective as of August 31, 2006. The Company expects that Mr. Luter will remain non-executive Chairman of the Board of Directors and continue focusing on acquisitions and long-term strategic development for the Company.

On June 15, 2006, effective as of September 1, 2006, the Company’s Board of Directors elected C. Larry Pope as Chief Executive Officer of the Company and confirmed his continuing position as President of the Company.

The Company’s press release announcing these events is attached hereto as Exhibit 99.1.

Pursuant to Item 5.02(c)(2) of Form 8-K, the Company is also providing the information required by Items 4.01(b), (d) and (e) and 404(a) of Regulation S-K with regards to Mr. Pope. Such information is attached as Exhibit 99.2 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibit 99.1            Press release dated June 15, 2006.

Exhibit 99.2            Information required pursuant to Items 4.01(b), (d) and (e) and 404(a) of Regulation S-K.

SIGNATURES

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 hereunto duly authorized.

	SMITHFIELD FOODS, INC.
Date: June 20, 2006
	/s/ Daniel G. Stevens Daniel G. Stevens
	Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit 99.1            Press release dated June 15, 2006.

Exhibit 99.2            Information required pursuant to Items 4.01(b), (d) and (e) and 404(a) of Regulation S-K.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:

Jerry Hostetter

Keira Ullrich

Smithfield Foods, Inc.

(212) 758-2100

jerryhostetter@smithfieldfoods.com

keiraullrich@smithfieldfoods.com

Smithfield Foods To Divide Chairman and CEO Positions

Smithfield, Virginia (June 15, 2006)—Joseph W. Luter, III today announced that he plans to relinquish the title of chief executive officer of Smithfield Foods, Inc. (NYSE: SFD) after serving for 31 years as chairman and chief executive officer.

Smithfield’s board of directors said that Mr. Luter will step aside from the position of chief executive officer as of August 31, but will remain non-executive chairman of the board. The board has elected C. Larry Pope, currently president and chief operating officer, as chief executive officer, effective September 1. As chairman, Mr. Luter will continue to focus on acquisitions and long-term strategic development, the two areas where he believes he can make the greatest contribution to Smithfield.

“Looking back over the past 31 years, it is gratifying to see how far Smithfield Foods has come. We have grown the company from a humble enterprise into one of the largest and well respected food companies in the world. It is a task to which I have dedicated most of my life, and I am glad that I have done so. Perhaps my greatest joy, however, is assembling an outstanding team of managers and employees,” Mr. Luter said.

Mr. Luter, 67 years old, said that he was leaving the company in good hands. “Larry Pope could not be more qualified to be chief executive of Smithfield. For the last 25 years he has worked with me to build this company for the long term, not being distracted by near-term industry dynamics. He has played a vital role in the integration of our many acquisitions we have made to build this company. There could not be a more seamless transition to solidify Smithfield’s future. Larry is a dedicated leader who will make the right decisions for employees and shareholders,” said Mr. Luter.

After four years with an accounting firm, Mr. Pope, 51 years old, joined Smithfield Foods in 1980 as controller. He became vice president, finance, in 1999 and was named chief financial officer in 2000. The board elected him president and chief operating officer in 2001.

“Joe Luter will be a hard act to follow. He clearly is the most respected man in the meat industry,” said Mr. Pope. “On the other hand, I am the beneficiary of having many years of experience in working closely with him, and look forward to continuing in that relationship as he remains chairman. I am especially pleased that Mr. Luter will continue to stay actively involved in many of the major decisions,” he said.

“Mr. Luter has spent his life building a very strong foundation for the future. I look forward to completing many of the projects currently underway, especially in Europe. My goal is to ensure that Smithfield’s future remains as bright as its past,” Mr. Pope said.

A leader and a visionary

Joe Luter became chief executive of Smithfield in 1975 when the company was in severe economic distress, with sales of $115 million, debt of $20 million and net worth of less than $1 million. At the time Smithfield Foods stock was trading as low as $.50 per share. The stock closed on June 14 at $26.36 per share, adjusted for five 2-for-1 stock splits. Unadjusted for stock splits, the stock would have closed at $843.52 per share. Smithfield recently reported fiscal 2006 sales of $11.4 billion and is the largest pork processor and hog producer in the world. Additionally, the company is the fifth largest beef processor and the largest cattle producer through a joint venture. Mr. Luter grew the business primarily through acquisitions, acquiring some 53 companies in the last 25 years.

Mr. Luter has been instrumental in translating Smithfield’s growth into enhanced shareholder value. Over his 31 years at Smithfield, the company has delivered a 24 percent annual compounded rate of return to shareholders. For the last 15 years, Smithfield has outperformed the S&P 500 Index by more than 160 percent.

“Joe Luter has revolutionized the United States pork industry, from introducing new genetics to building the largest pork processing plant in the world,” said Robert L. Burrus, Jr., a Smithfield Foods director. “Joe was never afraid to take risks, but he was always mindful of his shareholders. Smithfield’s track record demonstrates his success. He is a leader and a visionary, and, on behalf of our shareholders, I can say we are grateful for his work.”

This news release may contain “forward-looking” information within the meaning of the federal securities laws. The forward-looking information may include statements concerning the company’s outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. These risks and uncertainties include availability and prices of livestock, raw materials and supplies, livestock costs, product pricing, the competitive environment and related market conditions, operating efficiencies, access to capital, the cost of compliance with environmental and health standards, adverse results from ongoing litigation and actions of domestic and foreign governments.

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EX-99.2

EXHIBIT 99.2

Information required pursuant to Items 4.01(b), (d) and (e) and 404(a) of Regulation S-K

for C. Larry Pope.

Item 4.01(b)

Mr. Pope, 51, is currently the President and Chief Operating Officer of the Company and was elected to those positions in October 2001.

Item 4.01(d)

Not applicable.

Item 4.01(e)

Mr. Pope’s current officer position is described above. In addition, Mr. Pope served as Vice President and Chief Financial Officer of the Company from 2000 to October 2001.

Item 404(a)

Christopher Pope, son of C. Larry Pope, is an employee of Industrial Fleet Management (“IFM”) and provides services on behalf of IFM to the Company. Christopher Pope’s salary and bonus from IFM was $75,000 for 2005.