Tyson Foods Inc. is "streamlining" and restructuring its leadership team for the second time this year, the company said Wednesday, in a move to increase its agility and decision-making speed following the June acquisition of AdvancePierre Foods.
In February the Springdale-based company unveiled its new leadership group that would report directly to Tyson President and Chief Executive Officer Tom Hayes. This group included former employees of food companies that Tyson acquired over recent years. Since then the company has decided to experiment with a new leadership lineup, effective immediately.
Three Tyson Foods employees have been promoted to group president positions that oversee each segment of the business -- Poultry, Prepared Foods, and Fresh Meats (beef and pork). Two employees will be leaving the company, according to a release sent Wednesday.
Seven employees, who also reported directly to Hayes, have maintained the leadership positions they acquired in February. These actions are effective immediately, according to the release.
"We're always looking for ways to improve the effectiveness of our organization," said Tyson Spokesman Gary Mickelson in an email. "This streamlined structure will help us be more agile and enable faster, better decisions."
Group presidents will be responsible for growth strategy, execution and developing teams in all product categories that their segments serve, according to the company.
Sally Grimes, Doug Ramsey and Noel White have been selected to oversee each segment of Tyson Foods as the group presidents for Prepared Foods, Poultry, and Fresh Meats & International, respectively.
Two Tyson employees will be leaving the company; Andy Callahan, president of the North American Foodservice & International; and Monica McGurk, chief growth officer. Callahan, former president of Hillshire Farms' retail business, merged into Tyson's leadership team after the company acquisition in 2014. Tyson hired McGurk to manage corporate strategy and new business opportunities in April 2016.
In February the Springdale-based company revealed its new leadership team, which included Callahan and McGurk.
"We are excited about the direction in which Tyson Foods is headed and look forward to sharing our third quarter results on our earnings call," said Hayes in a the company news release.
Mickelson said Wednesday's announcement has nothing to do with Monday's scheduled release of Tyson's quarterly earnings report.
Tyson shares rose 73 cents, or 1.2 percent, to close Wednesday at $63.63.
Business on 08/03/2017