Tyson Foods announced that Chief Operating Officer Donnie King has been named president and CEO, effective immediately. Current President and CEO Dean Banks is leaving the company and board for personal reasons, according to a company statement. “The board and I know that Donnie has a deep understanding of our business, values, and culture and the solid leadership skills needed to continue to implement our strategy and deliver strong results,” John H. Tyson, chairman of the board said. “We want to express our appreciation to Dean for his contributions as a board member and executive.”
Donnie King has more than 36 years of experience in the protein business, holding a variety of executive leadership positions involving virtually all facets of the company including poultry, beef, pork, prepared foods, and international. He has also provided executive oversight of other important areas, such as food safety and quality assurance, health and safety, continuous improvement, engineering, and supply chain.
“Being a part of Tyson Foods has been a very rewarding experience,” Dean Banks said. “Upon deep personal reflection, and discussions with my family, the board, and my colleagues, I believe that stepping down and concentrating on my family is the right decision at this time.”