Tyson Foods Inc. of Springdale named Kevin McNamara the vice chairman of the company’s board of directors.
McNamara is the lead independent director and has been a member of the board since 2007. The company said McNamara will assist Chairman John Tyson with board issues as well as work with the executive leadership.
"The board’s appointment of Kevin to vice chairman reflects its commitment to sound governance to sustain the future of our company," John Tyson said in a statement. "We look forward to his expanded participation in the company, especially as we collaborate with the board and executive management to implement our strategy for growth and leadership."
McNamara will receive an annual retainer $125,000 as vice chairman and deferred stock awards of $110,000. The company said this was in addition to his previous retainer and stock compensation that amounted to $267,325 in fiscal 2019, according to a proxy statement the company filed in December with the U.S. Securities & Exchange Commission.
McNamara, 63, was reelected to the Tyson board last week at the company’s shareholders meeting. McNamara has a long career in the health care industry and was the founding principal of McNamara Family Ventures, which invests in health care companies.