Time’s right to exit, Tyson di­rec­tor says

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM - — John Magsam

Brad Sauer is step­ping down from Tyson Food Inc.’s board of di­rec­tors, the com­pany said Mon­day in a news re­lease.

Sauer, a re­tired ex­ec­u­tive with 3M, served as an in­de­pen­dent di­rec­tor with Tyson since 2008. His res­ig­na­tion is ef­fec­tive im­me­di­ately. There are no plans to re­place Sauer, the com­pany said in a state­ment, leav­ing the Spring­dale-based food com­pany’s board with 10 seats.

“Af­ter a great deal of thought, I be­lieve now is the ideal time to step down from the Board,” Sauer said in a state­ment. “Our new CEO and lead­er­ship team are in place, the com­pany’s go-for­ward strat­egy is set and we have out­stand­ing Di­rec­tors who have joined our ex­pe­ri­enced Board.”

A for­mer Hill­shire Foods ex­ec­u­tive, Tom Hayes took over Tyson’s top job at the first of the year. Tyson ac­quired Hill­shire and its many well­known brands, such as Jimmy Dean and Ball­park, in 2014 for $7.7 bil­lion.

Ear­lier this month, Tyson es­tab­lished a new se­nior lead­er­ship team of 10, in­clud­ing three for­mer Hill­shire Brands em­ploy­ees, all re­port­ing di­rectly to Hayes. Tyson Foods re­cently re­ported its prof­its were up 29 per­cent in the first quar­ter, break­ing com­pany records and hand­ily beat­ing an­a­lysts’ es­ti­mates.

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