WASHINGTON (dpa-AFX) - Tyson Foods, Inc. (TSN), on Thursday, announced that President and Chief Executive Officer Donnie King will step down from the role, effective October 4, and appointed Jeff Schomburger as his successor.
Schomburger has served on the board since 2016 and is currently the board's Lead Independent Director.
Schomburger previously spent 35 years at Procter & Gamble and retired as Global Sales Officer in 2019.
King will remain on the company's board of directors and work closely with Schomburger during the transition period.
The company said it remains focused on executing its long-term growth strategy and reaffirmed its fiscal 2026 guidance.
Looking ahead, Tyson Foods, Inc. reaffirmed its fiscal 2026 total company adjusted operating income outlook of $2.2 billion to $2.4 billion and expects sales growth of 2% to 4%.
The company expects fiscal 2026, sales is anticipated to be up 2% to 4% in fiscal 2026 as compared to fiscal 2025.
In the pre-market trading, Tyson Foods is 2.18% lesser at $64.60 on the New York Stock Exchange.
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