Tyson Team Working Overtime on IBP Deal

A handful of Tyson Foods officials have been working tirelessly trying to see that the proposed buyout of IBP Inc. is realized.

It has been quite a struggle for Tyson. They hooked the fish on Jan. 1 when IBP announced its intentions to sell. More than a month later, the world’s leading producer and marketer of poultry-based food products is still trying to land the fish.

Tyson Chairman, President and CEO John Tyson, 46, has been in the forefront of the news conferences concerning the deal. While he has been a director since 1984 with the company his grandfather founded, he was appointed president and CEO April 12.

But others are playing vital roles in the $3.2 billion proposal. They include: Greg Lee, 52, chief operating officer; Steven Hankins, 41, executive vice president and chief financial officer; Les Baledge, 42, executive vice president and associate general counsel; Read Hudson, 41, secretary; John Lea, 46, executive vice president and chief marketing officer; and Dennis Leatherby, 39, senior vice president-finance and treasurer.

Also, former CEO and current Senior Chairman Don Tyson, 69, has reportedly lent his support on many of the issues involved in the deal.

An IBP special committee made up of some board members is working from that end.