Tyson Foods Accelerates Change to Operate at the Speed of the Market
February 22 2021 - 4:30PM
Tyson Foods, Inc. (NYSE: TSN), today announced that the company is
making organizational changes designed to improve operational
agility, customer experience and speed of innovation to market,
ensuring that all businesses are well-positioned to adapt to a
dynamic environment.
“Consumer preferences are changing and evolving at a rapid
pace,” said Dean Banks, president and chief executive officer of
Tyson Foods. “We must accelerate our pace of change to not only
meet but exceed our customers’ expectations while delivering high
quality, innovative products. That’s why we’re adapting our
organization to enable our businesses to respond rapidly to the
changing environment.”
Each of Tyson Foods’ four business segments will be equipped
with the resources and structure needed to enable quicker response
and innovation at the speed of the markets they serve. Customer
sales will be embedded with each of the business segments to
intensely focus on customer needs and more quickly deliver on
them.
Additionally, Tyson Foods is naming Donnie King as its Chief
Operating Officer, reporting to Banks. King will lead and enable
the changes needed for operational excellence and continuous
improvements. He will also continue to be the group president of
Poultry, furthering the many improvements that he is already
implementing.
“We must simplify and focus our structure to facilitate faster
operational decision making, and we must remove obstacles to
provide an unmatched customer experience,” King said. “This is part
of an ongoing process of aligning resources around our business
segment structure to ensure Tyson Foods is able to meet customers’
needs where they are and in real time.”
The group presidents of Fresh Meats, Prepared Foods and
International, as well as the chief customer officer will report to
King, who has more than 35 years of experience in the industry and
has served in a variety of operational roles at the company.
About Tyson FoodsTyson Foods, Inc. (NYSE: TSN)
is one of the world’s largest food companies and a recognized
leader in protein. Founded in 1935 by John W. Tyson and grown under
three generations of family leadership, the company has a broad
portfolio of products and brands like Tyson®, Jimmy Dean®,
Hillshire Farm®, Ball Park®, Wright®, Aidells®,
ibp®, and State Fair®. Tyson Foods innovates continually
to make protein more sustainable, tailor food for everywhere it’s
available and raise the world’s expectations for how much good food
can do. Headquartered in Springdale, Arkansas, the company has
139,000 team members. Through its Core Values, Tyson Foods strives
to operate with integrity, create value for its shareholders,
customers, communities and team members and serve as a steward of
the animals, land and environment entrusted to it.
Visit TYSONFOODS.COM to learn more.
Contact: Gary Mickelson, 479-236-9022
Category: IR
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