Tyson Foods Inc. is turning to a familiar face to head its poultry division, the latest shakeup of the company’s executive team as high inflation hits profits.
(Bloomberg) — Tyson Foods Inc. is turning to a familiar face to head its poultry division, the latest shakeup of the company’s executive team as high inflation hits profits.
Tyson named Wes Morris to lead the key chicken segment, taking over as of Friday from David Bray who is departing the company, according to a statement.
The biggest US meat company by sales, Tyson first began as a chicken company during the Great Depression, before expanding into pork and beef. Chief Executive Officer Donnie King, who once led the chicken segment, made it a priority to boost returns in poultry when he was named to the top job in 2021.
Morris first joined Tyson in 1999 and held roles including president of prepared foods before retiring in 2017. He has recently served as a consultant to the poultry unit. “Wes is a recognized leader who will help position us for continued success and the future growth of our chicken segment,” King said in the statement.
The move comes after Tyson named Brady Stewart, formerly chief operating officer of the world’s top pork producer Smithfield Foods Inc., to group president of fresh meats in December to replace Shane Miller.
Meanwhile, John R. Tyson, great-grandson of the company’s founder, was promoted to chief financial officer just a month before he was arrested after being found asleep in a home that wasn’t his own in northwest Arkansas near where the company is based.
John R. Tyson earlier this week pleaded guilty to charges of trespassing and public intoxication, paying $440 in fines, according to Brian Thomas, city prosecutor of Fayetteville, Arkansas.
Tyson is expected to report quarterly earnings Feb. 6 for the first fiscal quarter of 2023. Shares were down 0.5% as of 9:59 a.m. in New York trading.
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