Dean Banks Named President of Tyson Foods


Dean Banks Named President of Tyson Foods
Dean Banks (Tyson Foods Inc.)

Tyson Foods Inc. of Springdale has added a new executive.

The meat processor's board of directors announced Wednesday that independent director Dean Banks, 46, will become president of the company effective Dec. 20.

Noel White, who is currently president and CEO, will continue as CEO.

In the new role, Banks will report to White and oversee the company's business segments. He will remain a member of the board as a non-€independent director.

"I have had the opportunity to work with many cutting-€edge, innovative companies during my career, and I look forward to bringing my skills and experience to Tyson Foods on a full€-time basis," Banks said in a news release. "I am honored to join Noel and his team as we continue to take bold actions to drive growth for the company now and into the future, and I look forward to returning to the heartland when my family and I relocate to Springdale in the near future."

In a news release, Tyson Foods cited Banks' "deep leadership experience" and a background in entrepreneurship, innovation and technology. He comes to Tyson Foods from X, an Alphabet Inc. company (formerly known as Google [x]), where he has been leadership team member since 2016.

"I have gotten to know Dean well over the past several years, particularly during his two years on our board, where he has demonstrated that he is a thoughtful leader who respects and appreciates the historical Tyson Foods culture," Chairman John Tyson said. "As the board reflected on its talent acquisition and development pipeline, it became apparent, given Dean's strong cultural fit with our organization and unique leadership experience and background in innovation and technology, that we could benefit from his distinctive abilities and personality on our enterprise leadership team."

White said the company was pleased to add Banks to its leadership ranks.

"From his service on the Tyson Foods board, Dean has developed a keen understanding of our business to go with his deep knowledge of the technologies and innovations that can help unlock opportunities now and in the future," he said. "I look forward to working closely with Dean as we drive Tyson Foods' global growth in the future."

Banks joined the board of Tyson Foods in 2017 and serves on the governance and nominating committee and the strategy and acquisitions committee. He also serves on the board of biotechnology company Vergent Bioscience, where he was previously CEO.

Dean was previously managing partner of SEED Ventures and also served as a consultant to Cleveland Clinic Innovations. He was CEO of Occelerator, senior vice president of business development and strategic marketing at OrthoHelix, co‐founder and CEO of Connective Orthopedics, and vice president at Highland Capital Partners.