Tyson Foods Names Dean Banks to Succeed Noel White as Chief Executive Officer on October 3, 2020
August 03 2020 - 7:30AM
Tyson Foods, Inc. (NYSE: TSN) today announced that Dean Banks
will succeed Noel White as Chief Executive Officer (CEO), while
maintaining the role of President, effective October 3, 2020.
White, who led Tyson through a period of unprecedented volatility
and uncertainty when he assumed the CEO role in 2018, will remain
with Tyson in a new role as Executive Vice Chairman of the board of
directors.
“The board and I are truly excited about the breadth and depth
of capabilities of Dean and the entire executive leadership team,
and we look forward to the energy and vision they will bring in
leading Tyson Foods into the future,” said John Tyson, Chairman of
the Board of Tyson Foods. “It’s clear to the board that Dean’s
impressive background in entrepreneurship, technology, and the
healthcare industry make him ideally suited to lead Tyson in its
efforts to integrate advanced technologies into our operations and
further our focus on team member health and safety.”
Banks’ expanded role of CEO is part of the Board’s deliberate,
long-term succession planning. Since joining Tyson Foods as a
director in 2017 and his appointment as President in 2019, Banks
has worked closely with Tyson leadership to develop a greater
understanding of the business and strategic vision for future
growth.
“I want to offer my sincere thanks to the more than 140,000 team
members who have given me a warm welcome over the past three
years,” said Banks. “I’ve had the opportunity to get to know many
of them, and their integrity, passion and commitment to feeding the
world is a critical part of why I’m here. I am honored to lead
Tyson Foods as its next CEO and look forward to working with our
company’s leadership in executing our strategy to capitalize on
opportunities for innovation across the protein spectrum. Building
upon the strong foundation established by Noel, I will continue to
serve our customers, team members, stakeholders, and shareholders
to drive our strategic initiatives and build our business in
current and new categories and geographies.”
“On behalf of the Tyson Foods’ Board of Directors, the Tyson
Family, and all our team members, I want to thank Noel for his 37
years of service with Tyson and his many contributions to the
company, including his steady leadership over the past two years,”
said Tyson. “He has an unparalleled knowledge of the protein
industry and our business, and he has earned the trust and
admiration of our team members and our company leaders, many of
whom he has mentored. His humility and leadership have left a
lasting impression on our organization, and we are pleased that his
service will continue as Executive Vice Chairman of the board of
directors.”
About Dean BanksPrior to joining Tyson Foods,
Banks was a Project Lead and on the Leadership Team at X (formerly
Google [x]), an Alphabet Inc. company, where he remains an advisor.
Previously, he was Managing Partner of SEED Ventures, a group
investing in and developing early stage healthcare technologies. He
has also previously served in leadership and consulting roles with
IntraCelluar Technologies, now Vergent Bioscience where he remains
a board member; Cleveland Clinic Innovations and the Ohio
Orthopedic Commercialization Center; OrthoHelix (acquired by
Tornier, Inc.); Connective Orthopaedics; Highland Capital Partners,
Cytyc Corporation (acquired by Hologic), and Ethicon Endo-Surgery,
a Johnson & Johnson company.
Banks was a former sergeant in the U.S. Marine Corps. He has a
BA from Miami University and an MBA from the Harvard Business
School. He is also a member of the Arkansas Innovation Council.
About Noel WhiteNoel White has been a dedicated
member of the Tyson team since joining the company through the IBP
acquisition in 2001. He has held a variety of critical senior
leadership roles in the company before being named CEO and has had
wide-ranging impact on many areas of the business throughout his
career. As group president of Beef, Pork and International, White
was responsible for delivering top and bottom-line growth for these
business segments.
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
141,000 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.
Media Contact: Gary Mickelson, 479-290-6111
Category: IR, Newsroom
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