Tyson Foods Names Dean Banks to Succeed Noel White as Chief Executive Officer on October 3, 2020

Banks is currently president and a non-independent director; White elevated to role on Board as Executive Vice Chairman

SPRINGDALE, Ark., Aug. 03, 2020 (GLOBE NEWSWIRE) --  Tyson Foods, Inc. (NYSE: TSN) today announced that Dean Banks will succeed Noel White as Chief Executive Officer (CEO), while maintaining the role of President, effective October 3, 2020. White, who led Tyson through a period of unprecedented volatility and uncertainty when he assumed the CEO role in 2018, will remain with Tyson in a new role as Executive Vice Chairman of the board of directors.

“The board and I are truly excited about the breadth and depth of capabilities of Dean and the entire executive leadership team, and we look forward to the energy and vision they will bring in leading Tyson Foods into the future,” said John Tyson, Chairman of the Board of Tyson Foods. “It’s clear to the board that Dean’s impressive background in entrepreneurship, technology, and the healthcare industry make him ideally suited to lead Tyson in its efforts to integrate advanced technologies into our operations and further our focus on team member health and safety.”

Banks’ expanded role of CEO is part of the Board’s deliberate, long-term succession planning. Since joining Tyson Foods as a director in 2017 and his appointment as President in 2019, Banks has worked closely with Tyson leadership to develop a greater understanding of the business and strategic vision for future growth. 

“I want to offer my sincere thanks to the more than 140,000 team members who have given me a warm welcome over the past three years,” said Banks. “I’ve had the opportunity to get to know many of them, and their integrity, passion and commitment to feeding the world is a critical part of why I’m here. I am honored to lead Tyson Foods as its next CEO and look forward to working with our company’s leadership in executing our strategy to capitalize on opportunities for innovation across the protein spectrum. Building upon the strong foundation established by Noel, I will continue to serve our customers, team members, stakeholders, and shareholders to drive our strategic initiatives and build our business in current and new categories and geographies.”