SPRINGDALE, Ark. — As part of the integration of recently acquired Keystone Foods and the company’s global growth efforts, Tyson Foods, Inc. (NYSE: TSN) today announced changes to the enterprise leadership team that reports directly to President and CEO Noel White, effective January 28, 2019. They include:
- Chad Martin, who has served as senior vice president and general manager, Beef Enterprise for Tyson Fresh Meats, is being promoted to group president, Poultry. Martin joined IBP, inc., which later became Tyson Fresh Meats, in 1996. He has since has held a number of management positions in the U.S. and Canada, previously serving as the vice president of strategy and margin enhancement of the company’s beef business.
- Donnie King, who previously worked as Tyson Foods’ president of North American operations, is returning to lead the company’s international business as group president, International. He’ll be responsible for the overall international growth strategy, global business models, and overseas operations. King joined Tyson Foods in 1982 and held roles of increasing responsibility until he left the company in 2017. During his tenure, King served as president of Prepared Foods, and senior group vice president of Poultry and Prepared Foods.
- Doug Ramsey, who has served as group president, Poultry since 2017, will assume the newly created role of president, Global McDonald’s Business, leading the relationship with a key Tyson Foods customer. Ramsey joined Tyson Foods in 1992 and has served as president of Poultry Operations, and was senior vice president of Big Bird and Fowl, Value Added.
“This refinement of our team will help us to take advantage of our biggest growth opportunities, which are value-added foods and international markets,” White said. “I look forward to working with this team to deliver results for our customers, consumers, investors and team members.”
The company also announced that Frank Ravndal, former president and CEO of Keystone Foods, will be leaving to pursue other opportunities. He will remain through March to assist with the integration process.
Through the Keystone acquisition, Tyson Foods now has eight plants and three innovation centers in China, South Korea, Malaysia, Thailand and Australia that, in addition to the three plants the company already operated in China, will help meet growing international demand for protein.
“We’re very optimistic about the opportunities in the global market. It’s estimated 90 percent of the global growth in protein demand will be outside of the U.S. and 60 percent of the total demand will be in Asia,” White said. “Donnie’s previous experience growing both our domestic and international businesses position him to lead all aspects of our international efforts and deliver continuous top and bottom line growth.”
About Tyson Foods
Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company had 121,000 team members at September 29, 2018. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements, including but not limited to statements regarding growth opportunities for our international and value-added businesses and protein demand, each of which involve a number of risks and uncertainties, including the impact of general economic, industry, market or political conditions and risks related to our ability to predict and satisfy growth opportunities and protein demand. These statements constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “will,” “should,” “estimate,” “expect,” “intend,” “believe” and other similar expressions (or the negative of such terms) are intended to identify forward-looking statements. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results and the timing of events may differ materially from the results and/or timing discussed in the forward-looking statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date of this communication, and Tyson Foods does not undertake any obligation to update any forward-looking statement except as required by law.
