Stephen L. Gibbs, senior vice president and chief accounting officer of Tyson Foods, has given notice that he will be leaving the company.
According to a filing with the U.S. Securities and Exchange Commission (SEC), which was posted on the Tyson Foods investor relations webpage on February 19, Gibbs notified Tyson Foods of his intent to resign and accept a job with another employer. His resignation was to be effective February 21.
Tyson Foods’ notice to the SEC stated that Gibbs’ resignation “is not the result of any disagreement with the company regarding operations, policies or practices.”
According to a report from Talk Business, Gibbs previously held a similar role at Keurig Green Mountain Inc., where he was employed for about six years.
Tyson Foods has yet to announce a successor for Gibbs.
Gibbs’ resignation follows an earlier announcement that Tyson Foods had approved a restructuring program, which includes the elimination of about 500 jobs.
“We have an ongoing focus on financial fitness to make sure our business remains competitive,” Tyson Foods spokesman Gary Mickelson said of the restructuring and job cuts. “This means we’re continually reviewing our resources including staffing levels. We’ve recently reduced some roles and relocated others. It’s always difficult to eliminate and move jobs, and we’re doing this only after careful consideration.”
Tyson Foods, according to the WATTAgNet Top Poultry Companies Database, is the largest broiler company in the United States and the second largest in the world. It also ranks ninth globally as a producer of animal feed, and fifth in the United States as a turkey producer. It also is growing its presence in the plant-based protein sector. Speaking at the 2020 Consumer Analyst Group of New York (CAGNY) Conference on February 19, Tyson Foods President Dean Banks said the company will continue efforts to grow its alternative protein portfolio.
