Tyson Foods was also under scrutiny this year when officials revealed that more than half of the workers at its Perry plant in Iowa tested positive with Covid-19. The outbreak led to a suspension of poultry imports from a Tyson Foods meat processing plant in the US to China, as well as an investigation into several major meatpackers, including Tyson Foods, JBS USA, Cargill and Smithfield Foods.
Not surprisingly, Tyson announced during its third quarter that sales output had decreased in all segments due to lower production throughput associated with Covid-19. It posted a 7.9% decrease in net revenue to $10.02 billion. Meanwhile, operating income was $775 million compared to $781 million last year. The meat processing firm also revealed that its CEO Noel White will be stepping down, succeeded by executive Dean Banks from 3 October.
In other news, Tyson Foods created the Coalition for Global Protein in January, a multi-stakeholder initiative to advance the future of sustainable protein and identify solutions of feeding a growing population.
Ranking (last five years):
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Noel White, CEO
Dean Banks, President
Stewart F Glendinning, Executive VP and CFO
Chris Langholz, President, International Business
Chad Martin, Group President, Poultry