SPRINGDALE, Ark. (KNWA/KFTA) — Tyson Foods, Inc. announced on Monday that Dean Banks will replace Noel White as Chief Executive Officer (CEO) of the company this October.
White will remain with the company in a new role as Executive Vice Chairman of the board of the directors, according to a Tyson press release.
Banks, who will retain the role of President, will take over the CEO position effective October 3, 2020. The Springdale-based food processor says Banks’ expanded role “is part of the Board’s deliberate, long-term succession planning.”
“The board and I are truly excited about the breadth and depth of capabilities of Dean and the entire executive leadership team, and we look forward to the energy and vision they will bring in leading Tyson Foods into the future,” said John Tyson, Chairman of the Board of Tyson Foods. “It’s clear to the board that Dean’s impressive background in entrepreneurship, technology, and the healthcare industry make him ideally suited to lead Tyson in its efforts to integrate advanced technologies into our operations and further our focus on team member health and safety.”
Banks joined Tyson Foods as a director in 2017 and was appointed President in 2019.
“I want to offer my sincere thanks to the more than 140,000 team members who have given me a warm welcome over the past three years,” said Banks. “I’ve had the opportunity to get to know many of them, and their integrity, passion and commitment to feeding the world is a critical part of why I’m here. I am honored to lead Tyson Foods as its next CEO and look forward to working with our company’s leadership in executing our strategy to capitalize on opportunities for innovation across the protein spectrum. Building upon the strong foundation established by Noel, I will continue to serve our customers, team members, stakeholders, and shareholders to drive our strategic initiatives and build our business in current and new categories and geographies.”
About Dean Banks (Information via Tyson Foods)
Prior to joining Tyson Foods, Banks was a Project Lead and on the Leadership Team at X (formerly Google [x]), an Alphabet Inc. company, where he remains an advisor. Previously, he was Managing Partner of SEED Ventures, a group investing in and developing early stage healthcare technologies. He has also previously served in leadership and consulting roles with IntraCelluar Technologies, now Vergent Bioscience where he remains a board member; Cleveland Clinic Innovations and the Ohio Orthopedic Commercialization Center; OrthoHelix (acquired by Tornier, Inc.); Connective Orthopaedics; Highland Capital Partners, Cytyc Corporation (acquired by Hologic), and Ethicon Endo-Surgery, a Johnson & Johnson company.
Banks was a former sergeant in the U.S. Marine Corps. He has a BA from Miami University and an MBA from the Harvard Business School. He is also a member of the Arkansas Innovation Council.
About Noel White (Information via Tyson Foods)
Noel White has been a dedicated member of the Tyson team since joining the company through the IBP acquisition in 2001. He has held a variety of critical senior leadership roles in the company before being named CEO and has had wide-ranging impact on many areas of the business throughout his career. As group president of Beef, Pork and International, White was responsible for delivering top and bottom-line growth for these business segments.