Dean Banks named President of Tyson Foods
November 06 2019 - 4:15PM
Tyson Foods, Inc. (NYSE: TSN) today announced that its board of
directors has named independent director Dean Banks, 46, president
of the company, effective December 20, 2019. Noel White, 61,
currently president and chief executive officer, will continue as
CEO. In his new role, Banks will report to White and oversee the
company’s business segments. Banks will remain a member of the
Tyson Foods board and will be considered a non‐independent
director.
Banks brings deep leadership experience and a background in
entrepreneurship, innovation and technology to Tyson Foods. He
joins the Tyson Foods enterprise leadership team from X, an
Alphabet Inc. company (formerly known as Google [x]), where he has
been a member of the leadership team since 2016 and started and led
multiple projects.
John Tyson, chairman of the board of directors, said, “I have
gotten to know Dean well over the past several years, particularly
during his two years on our board, where he has demonstrated that
he is a thoughtful leader who respects and appreciates the
historical Tyson Foods culture. As the board reflected on its
talent acquisition and development pipeline, it became apparent,
given Dean’s strong cultural fit with our organization and unique
leadership experience and background in innovation and technology,
that we could benefit from his distinctive abilities and
personality on our enterprise leadership team. Dean brings a unique
skillset and broad experience – including serving as a Marine, an
entrepreneur, a start‐up investor, and a technologist – that will
augment our next generation of leadership as it shapes the future
of our company.”
Noel White said, “At a time of unprecedented change in the
protein industry, we’re focused on capitalizing on our diversified
business model and innovation to execute our growth strategy. As we
increasingly integrate advanced technologies into our operations,
we’re pleased to add a leader of Dean’s caliber to our leadership
team. From his service on the Tyson Foods board, Dean has developed
a keen understanding of our business to go with his deep knowledge
of the technologies and innovations that can help unlock
opportunities now and in the future. I look forward to working
closely with Dean as we drive Tyson Foods’ global growth in the
future.”
Dean Banks said, “In the two years that I have had the privilege
of serving on the Tyson Foods board, I have been impressed with the
company’s forward‐thinking leadership and the ability of such a
venerable institution to adapt and thrive as a modern food company.
I have had the opportunity to work with many cutting‐edge,
innovative companies during my career, and I look forward to
bringing my skills and experience to Tyson Foods on a full‐time
basis. I am honored to join Noel and his team as we continue to
take bold actions to drive growth for the company now and into the
future, and I look forward to returning to the heartland when my
family and I relocate to Springdale in the near future.”
Dean Banks BiographySince 2016, Dean has been a
project lead and a leadership team member for X, the research and
development arm of Alphabet Inc. (formerly known as Google [x]). He
joined the board of Tyson Foods in 2017, and serves on two
committees ‐ the Governance and Nominating Committee, which is
responsible for various governance activities and identifying
qualified candidates to be on the Tyson Foods board, and the
Strategy and Acquisitions Committee, whose primary purpose is to
assist the Tyson Foods board in fulfilling its oversight
responsibilities relating to long‐term strategy as well as
decisions regarding investments, acquisitions and divestitures.
Dean also serves on the Board of biotechnology company Vergent
Bioscience, which develops molecular imaging probes for life
science research and development, where he was previously CEO.
Dean was previously managing partner of SEED Ventures, a group
investing in and developing early stage healthcare technologies. He
also has served as a consultant to Cleveland Clinic Innovations,
CEO of Occelerator, SVP of Business Development and Strategic
Marketing at OrthoHelix, co‐founder and CEO of Connective
Orthopedics, and Vice President at Highland Capital Partners.
He is a former platoon sergeant and squad leader in the U.S.
Marine Corps. Dean has a Bachelor of Arts in Marketing and Public
Relations from Miami University and a Master of Business
Administration from the Harvard Business School.
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 had 141,000 team
members at September 28, 2019. 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,
gary.mickelson@tyson.com
Investor Contact: Jon Kathol, 479-290-4235,
jon.kathol@tyson.com
Category: IR, Newsroom
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