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Tyson Foods Says CEO To Leave, Names Replacement

Published on Sep 17 2018 2:35 PM in A-Brands tagged: Trending Posts / US / Management / CEO / Tyson Foods Inc

Tyson Foods Says CEO To Leave, Names Replacement

US meat processor Tyson Foods Inc on Monday said chief executive officer Tom Hayes would leave the company and named long-time insider Noel White as his replacement.

Hayes, who is stepping down for personal reasons, was appointed the chief executive officer of the number one US meat processor in 2016.

In August of this year, Tyson Foods had announced the acquisition of Keystone Foods for $2.16 billion (€1.9 billion).

Trade Disputes

The maker of Ball Park hotdogs and Jimmy Dean sausages — which has come under pressure from trade spats that have disrupted US pork exports, increased domestic supplies and hurt prices — also reaffirmed its full-year adjusted profit forecast on Monday.

White, who joined Tyson following its acquisition of IBP in 2001, was most recently Tyson's chief operations officer. He will take over at the end of the month, according to company sources.

The company's shares were down nearly 3% at $61.65 (€52.8) in premarket trading.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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