Dive Brief:
- Tyson Foods said its head of supply chain left for violating the company’s code of conduct, the second time a senior executive has departed the meat giant for improper behavior in a little over a year.
- Brady Stewart, chief supply chain officer, departed after Tyson determined “certain actions” by the executive breached the company’s internal rules. Stewart also had been promoted in February to run Tyson's prepared foods business.
- In addition to Stewart’s departure, Tyson announced Devin Cole, formerly group president of poultry and international, will become chief operating officer and oversee the prepared food segments. Supply chain functions will report directly to CEO Donnie King.
Dive Insight:
Tyson's executive shakeup comes just over a year after John R. Tyson, chief financial officer and great grandson of the company’s founder, was fired after he was arrested for driving under the influence.
Two months after the incident, the meat giant replaced the Tyson heir with finance executive Curt Calaway. On Tuesday, the company said more leadership changes will be announced later this month, noting that Cole’s appointment reflects its “commitment to robust succession planning and operational excellence.”
“We have strong momentum as we head into our new fiscal year, and we remain committed to executing our long-term strategy and operating the company guided by our culture and Core Values," King said in a statement. “I am confident that under Devin’s leadership our business will continue to thrive.”
Cole was promoted in February to replace Group President of Poultry Wes Morris, who is set to retire next year. The company’s profitable chicken business drove increased sales of 4% in the third quarter, with more consumers turning to the protein for its affordable price point compared to beef.
Brady’s departure somewhat scrambles Tyson’s plans for a new organizational structure. The former executive’s February promotion alongside Cole was meant to be part of the succession planning process, with the company saying at the time that the pair’s leadership was “instrumental in helping the company fortify our foundation, build our brands and grow globally.”
As supply chain chief, Brady oversaw a consolidation of Tyson’s logistics and manufacturing operations, adjusting cold storage capabilities and production in the face of a record cattle shortage.
Tyson is the latest food company to grapple with improper behavior by a top executive. Nestlé fired its CEO on Monday for an undisclosed romantic relationship with a direct subordinate, while the head of Jim Beam owner Suntory left following a police investigation into potentially illegal supplements.
