IBP Officials Join Tyson’s Board of Directors
by June 28, 2001 3:15 pm 119 views
IBP Inc. Chairman and CEO Bob Peterson and President Dick Bond have joined the Tyson Foods Inc. board of directors with the merger of the two companies.
On June 15, Tyson was forced by Delaware Chancery Court judge to follow through with its plan to buy IBP, a Dakota Dunes, S.D., meat processor. On March 29, Tyson had pulled out of its original agreement, reached Jan. 2, to buy the company.
“We are pleased that Bob Peterson and Dick Bond have agreed to join our board,” said John Tyson, president, chairman and CEO of Tyson Foods. “We will have many important decisions as we combine our two great companies. Their insight and experience will be invaluable.”
The merger will give Springdale-based Tyson Foods 28 percent of the meat market, 25 percent of the chicken market and 18 percent of the pork market.
“I look forward to joining John and the others to create what I believe will be a global protein powerhouse,” Peterson said. “The combined expertise and resources of these two companies will benefit shareholders, as well as food customers and consumers throughout the world.”
Tyson Foods’ board of directors are as follows:
John H. Tyson, chairman; Don Tyson, senior chairman; Barbara Allen; Dick Bond; Neely E. Cassady, Lloyd V. Hackley; Gerald M. Johnston; David Jones; Jim Kever; Shelby D. Massey; Bob Peterson; Joe Fred Starr; Leland F. Tollett; Barbara A. Tyson; Fred S. Vorsanger; Donald E. Wray.