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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