Tyson Foods announced that Chief Operating Officer Donnie King has been named President and CEO, effective immediately. According to the company, current president and CEO Dean Banks is stepping down from his position and the board of directors for personal reasons.
“The board and I know that Donnie has a deep understanding of our business, values, and culture and the solid leadership skills needed to continue to implement our strategy and deliver strong results,” said John H. Tyson, chairman of the board. “We want to express our appreciation to Dean for his contributions as a board member and executive.”
King has more than 36 years of experience in the protein business, holding various executive leadership positions involving virtually all facets of the company, including poultry, beef, pork, prepared foods, and international.
He has also provided executive oversight of other essential areas, such as food safety and quality assurance, health and safety, continuous improvement, engineering, and supply chain, the company said in a press release.
“I’m humbled but excited about leading Tyson Foods, a company that feeds millions of people and means so much to me personally,” said King. “I believe we need to be sharply focused on operating with excellence, executing our strategies, and continuing to innovate across our businesses throughout the world. With our strong leadership team, we are committed to winning with our customers and delivering an outstanding team member experience.”
Banks is leaving the company after less than a year as in that position. He joined Tyson Foods as a director in 2017 and became president of the company in 2019.
“Being a part of Tyson Foods has been a very rewarding experience,” said Banks. “Upon deep personal reflection and discussions with my family, the board, and my colleagues, I believe that stepping down and concentrating on my family is the right decision at this time.”