Smithfield Foods' GC Under Investigation
A Virginia law might spell trouble for the general counsel of the world's largest pork company. Richard J.M. Poulson, who serves as Smithfield Foods Inc.'s executive vice president and senior advisor to the chairman, has not been a member of the Virginia State Bar since 2001. According to a Virginia...
August 18, 2006 at 09:43 AM
2 minute read
The original version of this story was published on Law.com
A Virginia law might spell trouble for the general counsel of the world's largest pork company. Richard J.M. Poulson, who serves as Smithfield Foods Inc.'s executive vice president and senior advisor to the chairman, has not been a member of the Virginia State Bar since 2001. According to a Virginia law passed in 2004, anyone serving as in-house counsel in the state must possess a special corporate counsel certificate or Virginia bar membership.
Union-affiliated CtW Investment Group, a part of Change To Win, pointed out Poulson's noncompliance to the chairman of Smithfield's audit committee in a July 27 letter. The group asked the company to form a special committee of independent directors to investigate the claim.
Prior to the letter, the United Food and Commercial Workers union had been embroiled in a decade-long battle to organize workers at Smithfield's largest plant in Tar Heel, N.C. As part of its effort to win over workers, the union commissioned research into Smithfield's top management, which led to the revelation of Poulson's lack of credentials.
Prior to joining Smithfield in 1998, Poulson served as senior managing director of the Appian Group, a private merchant and investment banking partnership. He also was a senior corporate partner at Washington, D.C.-based Hogan & Hartson.
According to the Virginia State Bar, which is conducting its own investigation into the matter, Poulson voluntarily resigned his membership in August 2001. The offense for practicing without a license in Virginia is a misdemeanor, carrying a maximum penalty of $2,500 in fines and 12 months in jail.
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