Tyson steps down from executive role
Tyson Foods Inc. has announced that Chairman John
Tyson will no longer be serving the company in an executive capacity, effective
immediately. He will, however remain chairman of the board.
Consequently, officers reporting to Tyson, such as the company's general
counsel and SVP of external relations, will now report directly to CEO Dick
In his adjusted role, Tyson will serve as a company adviser under a new
contract. Tyson's previous contract was set to expire in February 2008.
"The decision to relinquish my duties as an executive officer is part of
the evolution of the company's succession planning,'' said Tyson. "I have full
confidence in Dick Bond and the rest of the management team to continue to move
this company forward."
Tyson, joined the company's board of directors in 1984. After serving
in various executive capacities, Tyson became chairman in 1998, and then
expanded his role to chairman, president and CEO in 2000 and served as chairman
and CEO from 2001 to 2006.
To comment, login here
Or register to be able to comment.