Tyson Foods has named Richard Bond as President-CEO of the meat company, starting this week.
Bond succeeds John Tyson, who remains as chairman of the board. Bond, who has been president-COO since 2003, came to Tyson in 2001 when it bought beef processor IBP Inc., where Bond was CEO. He’s credited with helping merge the two companies, and is only the second individual outside the Tyson family to become CEO.
“The new Tyson Foods is almost five years old now and Dick has earned the opportunity to serve as our new chief executive,” said John Tyson in a statement. “He’s done an outstanding job of helping put the two companies together and we look forward to the progress our company will make under his leadership.”
Bond takes the helm just as Tyson gears up for its first-ever full sponsorship of the U.S. Olympics Committee, for the 2008 Games in Beijing and the 2010 Winter Games in Vancouver. Tyson continues to sponsor USA Gymnastics (begun in 2004) and picks up an additional sponsorship of U.S. Track & Field, which Tyson has supported since 1998 via its Tyson Invitational indoor track meet. The Olympics will serve as Tyson’s marketing platform under its “Powered by Tyson” umbrella. Arnold Worldwide, Boston, handles.
Tyson could face a challenging year: Second-quarter sales were down nearly 1.7% to $6.3 billion, even though volume sales were up 5% for the quarter ended April 1, due to oversupply that depressed prices. Consumer concerns over avian flu could affect Tyson’s poultry business if the flu makes headlines in the U.S. later this year.
