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Tyson Foods, Inc. announced on the 20th (local time) that it has appointed Devin Cole as president of international operations. There's an earnings report on Monday.
Cole, who previously managed teams at Tyson, rejoined the company in March to lead McDonald’s global operations. He now assumes additional executive responsibility for international operations from Amy Tu, who is retiring after six years with the company.
Tyson has invested heavily in China and parts of Southeast Asia to expand its food service and retail businesses, including plans to build new facilities.
However, there were also rumors that the company was looking for another manufacturing plant after selling off several of its U.S. manufacturing plants last year. Sell Chinese assets.
While Cole acknowledged it was too early to make a proper assessment of the international business, he said, “I am confident that we have the assets and the team to deliver a portfolio of products that will meet the needs of our customers and consumers around the world.”
As of August 7, no investor reports regarding executive changes have been issued. Cole previously worked at Tyson for 20 years and was named chief commercial officer in 2014, a position he held for one year. According to his LinkedIn:.
After leaving Tyson, Cole served as president of Keystone Foods’ U.S. operations and in 2016 became chief operating officer of George’s, Inc. George’s is a privately held chicken company headquartered in Springdale, Arkansas, where Tyson is also headquartered.
Cole takes over as Tu steps down after 30 years in corporate law. Throughout her career, she has held a number of senior, general and international advisory roles at Walmart, Boeing and Tyson. According to LinkedInShe was appointed Tyson's head of international operations in 2022.
“We wish Amy and her husband Christian all the best, but with Devin in place now, we expect many great things to come from the international community,” said President and CEO Donnie King.
International business generated $582 million in revenue in the third quarter, down 8% from a year ago, as lower prices offset higher purchase volumes. International operating income was $25 million for the three months ended June 29, compared with a loss of $234 million a year ago.
Tyson also generated some cash flow after selling a Netherlands manufacturing plant that caught fire in the first quarter.
