Annual shareholder meeting told Tollett to succeed Tyson as chairman of the board on April 21, 1995.FAYETTEVILLE, Ark,--(BUSINESS WIRE)--Jan. 13, 1995--Don Tyson, chairman of the board of Tyson Foods Tyson Foods, Inc. (NYSE: TSN) is an American multinational corporation based in Springdale, Arkansas, that operates in the food industry. The company is the world's largest processor and marketer of chicken, beef, and pork, and annually exports the largest percentage of beef , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :TYSNA), announced at the Tyson Annual Shareholder meeting in Fayetteville today that, effective April 21, 1995, he would step down as chairman of the board and serve as senior chairman. In this newly created position, Tyson will serve as chairman of the board's Executive Finance Committee and devote most of his time to major corporate financial matters. In the Tyson board of directors meeting immediately prior to the shareholder meeting this morning, Tyson was elected senior chairman, a position that the board created at its December 1994 meeting. He will serve as both chairman and senior chairman until April 21, 1995, his 65th birthday, at which time he will relinquish the title of chairman. The board also, upon Tyson's recommendation, elected Leland Tollett, currently president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , to succeed Tyson as chairman of the board effective April 21, 1995. "I have a number of other things I want to do in life," said Tyson. "While I will continue to be very involved in all the major financial matters involving the company, Leland, as chairman of the board, will soon have official control of all the day-to-day operations of Tyson Foods, a job he has effectively had for some time already, and he will guide the future direction of the company as the next generation of leadership takes control." The company also announced that the nominees for election to the board of directors, as set forth in the Proxy Statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. , were elected. Those elected to the board for the coming year were Don Tyson, Joe F. Starr, John H. Tyson, Leland E. Tollett, Shelby D. Massey, Neely Cassady, Fred S. Vorsanger, Barbara Tyson, Lloyd V. Hackley Lloyd V. “Vic” Hackley is an educational administrator in North Carolina who was named in July 2007 as the interim chancellor of Fayetteville State University. He was previously chancellor of FSU from 1988 to 1994. Hackley, a retired U.S. and Donald Wray. The board's Executive and Finance Committee, which Don Tyson will chair, will also include Tollett and John Tyson, president of the company's Beef and Pork Division. The board also reviewed the company's previously announced stock repurchase plan stock repurchase plan 1. See buyback. 2. See self-tender. and were told that 3.7 million shares of the 15 million shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. had been purchased. CONTACT: Tyson Foods, Inc., Fayetteville
Archie Schaffer, 501/290-7232
or
Mary Rush, 501/290-4351
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion