Tyson Foods Inc. Is getting a new CEO.
Tom Hayes, who has been at the helm of the maker of Ball Park hotdogs and Jimmy Dean sausages since late 2016, is “stepping down for personal reasons,” according to a news release published Monday.
The Wall Street Journal reports that Hayes’ departure is not related to any issues concerning “personal conduct or integrity.”
Hayes will be replaced by Noel White, who is moving into the role of CEO and president after having served most recently as the president of the company’s beef, pork, and international group.
White has worked at Tyson since 2001, when the company bought meatpacking company IBP where White worked. He then served as Tyson’s COO and was president of Tyson’s poultry division between 2013 and 2017.
White, who was chosen by the Tyson board, will enter his new role at the end of September. Following news of Hayes’ departure, Tyson’s shares were down close to 3% in pre-market trading, at $61.65. The company’s shares are down 22% year to date, due at least in part to tariffs imposed by the Trump administration.
