Hongwei Wan
About Hongwei Wan
Hongwei Wan, 51, has served as a Class III director of Smithfield Foods, Inc. (SFD) since January 2025; his term runs until the 2027 Annual Meeting. He is the son of Chairman Long Wan, and is an Executive Director and Deputy Chairman of WH Group; he also chairs Shenzhen-listed Shuanghui Development. He holds a Bachelor of Arts from York University (Toronto) and has extensive meat industry and public relations experience within the WH Group ecosystem .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| WH Group | Assistant to CEO; led public relations | Jan 2014 – Aug 2021 | Senior corporate liaison and PR leadership |
| Shuanghui Development | Vice Chairman | Aug 2018 – Aug 2024 | Board leadership pre-chairmanship |
| Shuanghui Group | Secretary to the Chairman | Prior to Aug 2018 (dates not specified) | Executive support to controlling shareholder leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| WH Group | Executive Director; Deputy Chairman | Since Aug 2021 | Parent company of SFD; controlling shareholder |
| Shuanghui Development | Director; Chairman of the Board | Director since Aug 2018; Chairman since Aug 2024 | Key operating affiliate in China |
| Various WH Group subsidiaries | Director | Ongoing | Directorships across the group |
Board Governance
- Classification and term: Class III director; term expires at the 2027 Annual Meeting .
- Independence: Not independent under Nasdaq rules; only Gallagher, Starling, and Quelch are independent directors .
- Committee assignments: No committee memberships listed for Hongwei (not on Audit, Compensation, Nominating & Governance, or Executive Committees) .
- Controlled company: SFD is a Nasdaq “controlled company” due to WH Group’s ~92.7% ownership; SFD relies on exemptions from majority-independent board, and fully independent Compensation and Nominating committees. Audit Committee is fully independent .
- Shareholders agreement: WH Group has board designation rights (including Chair selection) and proportional representation on key committees while it maintains specified ownership levels, reinforcing control over governance .
- Related party oversight: Audit Committee (independent) pre-approves related person transactions under written policy .
Fixed Compensation
| Component | Amount/Status | Notes |
|---|---|---|
| Annual cash retainer | None | Independent director program only; directors who are employees of SFD or directors/employees of any affiliates do not receive compensation for board service . |
| Committee fees | None | Audit Committee chair/member fees apply only to independent directors; Hongwei is not on Audit . |
| Equity (RSUs) | None | Independent directors receive annual RSUs; affiliates do not receive director compensation . |
Performance Compensation
| Metric-linked Pay | Status | Notes |
|---|---|---|
| PSUs/Options tied to TSR/financial metrics | Not disclosed/applicable | Director performance-based compensation applies to independent directors; none disclosed for affiliate directors . |
Other Directorships & Interlocks
| Company | Relationship to SFD | Role | Interlock/Conflict Potential |
|---|---|---|---|
| WH Group | Controlling shareholder of SFD (~92.7% via SFDS UK Holdings Ltd.) | Executive Director; Deputy Chairman | High; WH Group’s rights over SFD’s board and committees create influence . |
| Shuanghui Development | WH Group affiliate | Director; Chairman | High; commercial arrangements exist between SFD and WH Group affiliates . |
Expertise & Qualifications
- Industry and corporate leadership across WH Group/Shuanghui; public relations and executive support background .
- Bachelor of Arts (York University, Toronto) .
- Family tie: Son of Chairman Long Wan, indicating continuity within controlling shareholder leadership .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Hongwei Wan | 0 | 0% | No reported ownership as of April 10, 2025 . |
| Policy on pledging/hedging | Prohibited | Directors are prohibited from hedging and pledging company securities . |
Governance Assessment
- Control and independence: SFD’s controlled-company status and WH Group’s board/committee designation rights materially limit board independence; Hongwei is non-independent and holds senior roles at WH Group, amplifying influence over SFD governance and compensation processes .
- Committee engagement: No committee memberships for Hongwei reduces formal oversight exposure (e.g., Audit or Comp), but WH Group retains proportional rights to populate Compensation and Nominating committees, affecting pay and nominations .
- Ownership alignment: Hongwei holds no SFD shares, indicating limited direct economic alignment with minority shareholders; WH Group collectively holds ~92.7% .
- Related-party exposure: Multiple ongoing related-party arrangements with WH Group (Distribution Agreement; Vortex sale/purchase; trademark licenses; transitional services; registration rights), heightening conflict risk and emphasizing reliance on independent Audit Committee controls .
- Family relationship: Father–son tie between Chairman Long Wan and director Hongwei is a clear governance red flag for independence and potential preferential influence .
RED FLAGS: Controlled-company governance; non-independent director with senior roles at controlling shareholder; zero direct SFD ownership; family relationship to Chair; extensive related-party transactions with WH Group affiliates .