Nov 21 Tyson Foods Inc reported a 12.8
percent drop in quarterly revenue, hurt by lower sales of beef
and chicken, and said Chief Executive Donnie Smith would step
down at the end of the year.
Tyson's shares were down 7.7 percent in premarket trading on
The company said its president, Tom Hayes, will succeed
Smith as chief executive.
The No. 1 U.S. meat processor said sales in the fourth
quarter ended Oct. 1 fell to $9.16 billion from $10.51 billion a
However, net income attributable to Tyson rose to $391
million, or $1.03 per share, from $258 million, or 63 cents per
share, a year earlier.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by