Sept. 17 (UPI) — Tyson Foods CEO and President Tom Hayes is stepping down from the Arkansas-based meat purveyor for personal reasons, the company announced Monday.
Hayes will be replaced by Noel White, formerly group president of Tyson’s beef, pork and international division. White also will join the board of directors.
The leadership reorganization will take effect at the end of September.
Hayes was named head of Tyson Foods in November 2016 as the company began to focus on items like meal kits and pre-seasoned meats. He joined the company in 2014.
“It is a very difficult decision to leave Tyson Foods, but after careful consideration and discussions with my family and the board, I know it is the right thing to do,” Hayes said Monday.
White worked for two decades at Iowa Beef Processors before it was acquired by Tyson in 2001.
“I look forward to accelerating the current trajectory of growth as a global modern food company through our operational excellence, innovative thinking and focus to sustainably feed the world,” White said. “With the company’s strong portfolio of fast-growing brands, diverse capabilities, exceptional enterprise leadership team and dedicated team members, we are well-positioned for continued success.”
Tyson Foods’ shares were down 63 points — 0.55 percent — Monday afternoon after news of the leadership change.