Tyson Foods President and Chief Executive Officer Dean Banks announced Wednesday he is stepping down and “concentrating on my family” and is being replaced by Chief Operating Officer Donnie King.
Banks joined the Tyson team in 2017 after a career in entrepreneurship, technology and the healthcare industry. He was named president and CEO in October 2020.
King, a 36-year veteran of Tyson, is the company’s fifth CEO in five years. He will assume the position effective immediately, the company said in a statement.
At the Tyson Fresh Meats plant in Perry, Dan Richardson assumed the title of general manager in May following the retirement of Mike Grothe, who headed the Perry operation since 2015. Richardson comes to Perry from the Tyson Foods plant in Madison, Nebraska. He has been with the company on and off since 1998.
Tyson Fresh Meats currently employs about 1,100 people at the Perry plant and processes about 8,500 hogs daily.
How’s that lawsuit over Tyson’s management betting on how many workers there would get sick from the coronavirus doing? There’s nothing like a pandemic betting pool to cause a management shake-up throughout their operations in Iowa.