Tyson, which produces one out of every 5 pounds of chicken, beef and pork sold in the U.S., in recent months has replaced the heads of several of its major business divisions. It also ousted its chief technology officer, and the company’s stock price is down roughly 34% over the past 12 months, underperforming about a 9% drop in the S&P 500 over the same period.
Tyson said that it is confident in its growth strategy, its portfolio of brands and its executive ranks to help it navigate difficult market conditions.
John R. Tyson, CFO of Tyson Foods, began Nov. 5 running 7 miles in a weighted vest. In the wee hours of the next morning, he was arrested by four police officers and taken to jail in his underwear. Since his arrest, the family-controlled Tyson Foods Inc. has stood by its chief financial officer, who is also the great-grandson of the company’s founder and son of its current chairman, as Mr. Tyson’s case played out in court and the media.