Tyson Foods CEO resigns as sector faces weak demand

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Tyson Foods has announced the departure of its chief executive, Dick Bond, a move which reflects the difficulties facing the US meat industry.

Bond will be replaced on an interim basis by former chairman and CEO Leland Tollett, the company said in a statement.

The resignation follows the decision last month by the chief executive of Pilgrim's Pride, the largest US poultry producer, to step down under pressure from board members days after the company filed for bankruptcy.

Weak demand, coupled with the ongoing impact of high commodity prices on animal feed costs and oversupply has been affecting the performance of US meat processors in recent months.

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Related topics: Manufacturers

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