Tyson names new CEO after two years on the job
Tyson Foods is replacing its CEO, Bloomberg reports. Current president Dean Banks will replace Noel White in October. The company spent $340 million more than planned in its third quarter, said it expects increased costs for the remainder of the year, and anticipates additional slowdowns at its processing plants. During the Covid-19 pandemic, more than 10,000 Tyson workers have tested positive for the virus, and the company is currently being sued by the families of three employees from its Waterloo, Iowa facility who died after contracting Covid-19. The families allege that managers had lied about the extent of the viral spread in Tyson’s processing plant.