Tyson Foods sees opportunities for innovation to put protein in more affordable and convenient forms, CEO says; US protein supplies to stay tight through summer grilling season amid constrained chicken breeding stock, hog virus, company president says
May 21, 2014
At the annual BMO Capital Markets 2014 Farm to Market Conference, Donnie Smith, president and chief executive officer of Tyson Foods, Inc. (TSN), told investors that protein is likely to continue taking a more prominent role in people's diets.
"We see opportunities for innovation to put protein in more affordable, convenient forms," Smith said. "We'll go where the consumer takes us, and we have the capability and flexibility to meet changing consumer needs and expectations."
Steve Stouffer, president of fresh meats, said protein supplies will remain tight through the summer grilling season as a result of constrained chicken breeding stock, a virus in the hog population and drought that has reduced grazing pasture for cattle. "The beef and pork supply and price dynamic this year and into 2015 are expected to drive more consumers to the relative value of chicken."
About Tyson Foods
Tyson Foods, Inc. (TSN), with headquarters in Springdale, Arkansas, is one of the world's largest processors and marketers of chicken, beef and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company was founded in 1935 by John W. Tyson, whose family has continued to be involved with son Don Tyson leading the company for many years and grandson John H. Tyson serving as the current Chairman of the Board of Directors. Tyson Foods produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. The company provides products and services to customers throughout the United States and approximately 130 countries. It has approximately 115,000 Team Members employed at more than 400 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson Foods strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.