Tyson Foods' focus on the future
Feb. 21, 2017
by Erica Shaffer
Tyson launched a new logo to reflect the new direction of the company.
BOCA RATON, Fla. – Nearly two months after officially taking the helm at Tyson Foods Inc., President and CEO Tom Hayes shared his vision of how the company will shape the future of food.
Speaking during the 2017 Consumer Analyst Group of New York (CAGNY) Conference in Boca Raton, Florida, Hayes reiterated Tyson’s commitment to product innovation while remaining sustainability centered. The company also unveiled a new logo to reflect the new direction of the company.
|Tom Hayes, president and CEO of Tyson Foods
“The purpose of our company is to raise the world’s expectations for how much good food can do, and we’re uniquely positioned to deliver just that,” Hayes said.
Hayes said Tyson will release a wide variety of new products. The company unveiled its most recent innovation — Chairman’s Reserve Prime Pork — at the Annual Meat Conference Product Tasting Reception Feb. 20. Chairman’s Reserve Prime Pork is an all-natural, minimally processed, hand-selected and hand-trimmed line of fresh pork by Tyson Foods subsidiary, Tyson Fresh Meats.
|Sally Grimes, president of North American Retail, Tyson Foods
“We’re driving growth through strong innovation and brand-building,” said Sally Grimes, president, North American Retail for Tyson Foods.
In addition to fresh meats, Tyson intends to investigate protein products that can be eaten throughout the day. The company highlighted a dozen new products and said that that all Tyson consumer brand products would feature chicken with No Antibiotics Ever (NAE).
“For us, sustainability isn’t a single issue; it’s about focusing on multiple dimensions in order to advance the whole,” Hayes noted. “We will use our reach, capabilities and resources to drive positive change at a scale we believe no other company can match.”
Other sustainability plans include:
- Expanding the company’s NAE chicken offerings, making Tyson Foods the world’s leading producer of NAE chicken;
- Setting a goal of reducing workplace injuries and illnesses by 15 percent year over year;
- Establishing strategic partnerships to set science-based sustainability goals;
- Continuing third-party audits of farms to certify humane treatment of chickens;
- Improving how chickens are raised through a concept farm, with innovations designed to be better for the birds, the environment and food safety;
- Increasing transparency across the business, including sustainability efforts.
Hayes added that Tyson’s new approach to “financial fitness” also will drive investment in long-term growth. Waste reduction across the company, allocation of capital for growth and transforming business models through technology are part of the company’s strategy to leverage its financial fitness.