Tyson Foods recorded sales of $11.30 billion in Q2, an increase from 2020’s results of $10.89 billion. Demand for beef and prepared foods propelled these results. In June 2021, Tyson COO Donnie King succeeded Dean Banks as president and CEO, as Banks stepped down from the company and board “for personal reasons”.
Tyson invested $48m to expand its poultry operations in Arkansas, creating 70 jobs and adding extra capacity to the plant’s fully cooked processing lines. This expansion is set to be completed by the end of 2021. The meatpacking giant inaugurated its new poultry complex in Tennessee, following an investment of $425 million. Elsewhere, Tyson invested $55 million in a prepackaged meat expansion project at its South Carolina facility.
Tyson made headlines at the start of 2021 after it agreed to pay $221.5 million to settle all class claims related to its previously disclosed broiler chicken antitrust litigation. The lawsuit was filed by a group of poultry buyers over accusations that the company had illegally conspired to inflate chicken prices.
For its sustainability efforts, Tyson Foods and Nestlé joined forces with supermarkets and scientists to launch a new nonprofit organization, Foundation Earth, to issue front-of-pack environmental scores on food products. The company also committed to achieving net-zero greenhouse gas emissions across its global operations and supply chain by 2050.
|Ranking (last five years):|
|Year end:||December 2020|
|Total sales, local currency:||43,185
|Food sales, local currency:||43,185
|Total sales, $m:||43,185
|Food sales, $m:||43,185
|Donnie King, President and CEO|
|Stewart F Glendinning, Executive VP and CFO|
|David Bray, Group President, Poultry|
|Chris Langholz, President, International Business|
|Noelle O'Mara, Group President, Prepared Foods|