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Tyson Foods loses CEO amid claims of family interference

Dick Bond, the president and CEO of Tyson Foods has unexpectedly quit the family-owned US meat producer.

It is being reported that non-family executive Bond did not appreciate the increased involvement of Don Tyson, the 78-year-old son of the company’s founder who controls roughly 70% of the voting shares.

Tellingly, no thanks or praise was offered to Bond in the press statement released by the Arkansas-based organisation, which is the world’s largest processor and marketer of chicken, beef and pork.

“After seven years of helping lead or leading the world’s largest meat company, I have decided it is in both my best interest personally, and the best interest of the company for me to move on and pursue other interests,” said Bond.  

“I have a lot of both my time and personal finances invested in Tyson Foods, so I wish the company all the best for future success.”

Leland Tollett, the former chairman and CEO, returns to the company as president and CEO on an interim basis.
 
Tyson Foods was founded in 1935 when John Tyson began hauling chickens across the US. Today, the company has revenues in excess of $26 billion and employs 107,000 people around the world.

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