Tyson Foods announces departure of CFO Dennis Leatherby, appointment of Molson Coors executive as replacement

Tyson Foods on Wednesday (Nov. 8) said longtime executive Dennis Leatherby, the company’s chief financial officer since 2008, will step down from that role on Feb. 10, 2018, and leave the company in April 2018.

The Springdale company also announced his replacement, former Molson Coors Brewing Co. executive Stewart F. Glendinning.

Glendinning is expected to join the company Dec. 11.

“During his 28 years at Tyson Foods, especially his almost decade as CFO, Dennis has been a critical factor in our growth, helping guide the strategic repositioning of the company and our acquisition program during his tenure,” Tyson Foods president and CEO Tom Hayes said in a statement. “On behalf of our board, our executive team and the entire Tyson Foods family, I want to thank him for his countless contributions during his long and distinguished tenure.”

Leatherby said Tyson Foods is primed to launch its next phase of growth, and the timing is right to pursue his “next chapter.”

“I am extremely proud of what this organization has been able to achieve in my nearly three decades here, and I am honored to have been part of a fabulous leadership team,” Leatherby said. “Many more good things are ahead for this great company.”

Glendinning was most recently president and CEO of Molson Brewing’s international division. He began his career with the company in 2005 as chief financial officer, UK and subsequently held the positions of global chief financial officer, president & CEO, UK and president & CEO, Canada. Prior to that, Glendinning served in senior financial positions with The Hackett Group and KPMG.

“Stewart’s background in both finance and operations will be an important asset to our team as we continue Tyson Foods’ transformation to a modern food company,” Hayes said. “In the past year, we have made great progress in building our strategy to grow through differentiated capabilities, deliver ongoing financial fitness through continuous improvement and to sustain our company and our world for future generations.

“Stewart’s expertise will add depth and dimension as we continue to focus on providing sustainable food at scale to deliver value to all of our stakeholders.”