Tyson Foods President and CEO Dean Banks is leaving the poultry company for personal reasons, having served less than a year in the top post.
Tyson named Banks as CEO in August, but he took officially took over the position from Noel White in October. The company said Wednesday that Donnie King will succeed Banks, effective immediately.
King will have much on his plate at the outset, including contending with worker attendance issues and the ongoing challenges of the coronavirus pandemic. Last month Tyson announced that it was raising wages to combat absenteeism and worker turnover at its plants as U.S. demand for chicken soars. The Springdale, Arkansas-based company, which processes 20% of U.S. beef, chicken and pork, has said that absentee rates are around 50% higher than they were before the pandemic.
To combat the virus, Tyson began vaccinating workers in February through clinics at more than 100 sites. The company had announced its plans for medical clinics in September.
Before you consider Tyson Foods, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tyson Foods wasn't on the list.
While Tyson Foods currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.