Sector News

Tyson Foods has announced that its board of directors has named independent director Dean Banks as president of the company, effective as of December 20, 2019.

Tyson’s current president and chief executive officer, Noel White, will continue as CEO.

Reporting to White, Banks will oversee the company’s business segments, remain a member of the Tyson Foods board, and be considered a non‐independent director.

Banks joins Tyson Foods’ 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. According to a recent release, Banks brings “deep leadership experience and a background in entrepreneurship, innovation and technology” to Tyson Foods.

Tyson CEO Noel White commented: “At a time of unprecedented change in the protein industry, we’re focused on capitalising 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 calibre 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.”

Banks added: “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 am honoured to join Noel and his team as we continue to take bold actions to drive growth for the company now and into the future.”

By Bryony Andrews

Source: FoodBev