Sector News

Tyson Foods names Tom Hayes as President

June 15, 2016
Food & Drink

Tyson Foods Inc. has named Tom Hayes president, a move reflecting the company’s increased emphasis on branded, packaged foods.

Chief Executive Donnie Smith previously held the president title.

Mr. Smith said in a statement that Mr. Hayes, who was chief commercial officer, has “played a key role in creating a united company and in our continued development of our branded products.”

Mr. Hayes was chief supply chain officer at Hillshire Brands at the time of Tyson’s $7.7 billion purchase of Hillshire in 2014. Tyson picked up such brands as Jimmy Dean sausages and Ball Park hot dogs in that deal, enhancing its position in higher-margin prepared foods.

In May, Tyson said its profit for the quarter ended April 2 rose 39% and the company increased its full-year guidance.

The Springdale, Ark., company has benefited in recent quarters from robust consumer spending, increased meat supplies and low prices for animal feed.

By Josh Beckerman

Source: Wall Street Journal

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