Time’s right to exit, Tyson director says
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.