UPDATE 1-Tyson Foods names former P&G executive as CEO, to succeed veteran King

Procter & Gamble Company
Tyson Foods, Inc. Class A

Procter & Gamble Company

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Tyson Foods, Inc. Class A

TSN

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May 28 (Reuters) - Tyson Foods TSN.N on Thursday named former Procter & Gamble executive Jeff Schomburger as its new CEO, set to replace Donnie King in the role from October.

Schomburger, a member of the meatpacker's board since 2016, had retired as the Global Sales Officer at P&G PG.N in 2019.

King, who has been with the company for over four decades, took over the helm in 2021 and helped Tyson Foods navigate several disruptions, including the COVID-19 outbreak and the recent spike in beef prices.

Tyson Foods reported better-than-expected quarterly earnings and raised its full-year income forecast earlier this month, as rising chicken sales helped counter a sharp drop in demand for high-priced beef.


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