Bond Steps Down As CEO Of Tyson Foods

Mon. January 05, 2009; Posted: 08:29 PM

(financialwire.net via COMTEX) -- TSN | Quote | Chart | News | PowerRating -- January 5, 2009 (FinancialWire) -- Dick Bond has stepped down as president and chief executive officer of Tyson Foods, Inc. (NYSE: TSN | Quote | Chart | News | PowerRating) (Current Market Cap: US$3.18 Bil.) Leland Tollett, Tyson's former chairman and CEO, has agreed to return to the company as president and CEO on an interim basis until a permanent successor has been chosen.

In a statement, Bond, who has been Tyson's CEO since May of 2006, said that he has "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."

The move surprised investors, who sent TSN down by more than 10% in the hours following the release of Bond's departure.

Donnie Smith, a longtime Tyson executive, is being named senior group vice president of the firm's Poultry and Prepared Foods units, and will have overall responsibility for those divisions.

Springdale, Arkansas-based Tyson Foods is a processor and marketer of chicken, beef and pork. The company provides products and service to customers throughout the United States and more than ninety countries. It has around 107,000 employees employed at more than 300 facilities and offices in the U.S. and internationally.

FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .

Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .

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For full details on Tyson Foods Inc (TSN) click here. Tyson Foods Inc (TSN) has Short Term PowerRatings of 6. Details on Tyson Foods Inc (TSN) Short Term PowerRatings is available at This Link.

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