Tyson Foods Names Jeff Schomburger as New CEO
Tyson Foods announced that board member Jeff Schomburger will replace veteran Donnie King as CEO in October. The leadership change comes as the company manages significant losses in its beef segment while benefiting from a turnaround in its chicken business.
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TYSON FOODS INC will replace CEO Donnie King with board member Jeff Schomburger in October, triggered by a leadership shuffle that sent shares down 6%. The transition follows a turnaround in the chicken segment that offset losses in a beef business pressured by 75-year low cattle inventories. Investors now face uncertainty as the executive who stabilized margins departs during a period of federal price-collusion scrutiny.
