Don Tyson Dead at 80

Don Tyson, 80, died of cancer on Jan. 6.

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In a statement accompanying an obituary, Tyson Foods Inc. president and CEO Donnie Smith said:

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“It is with great sadness I report today the death of Don Tyson, former Chairman and CEO of Tyson Foods and a leading member of our company’s board of directors. Don passed away this morning at the age of 80 after a brief illness.

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Rep. Tim Griffin, R-Ark., said he was sad to learn of Tyson’s death.

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“He built a multi-billion dollar international company – employing thousands – out of a small family business in northwest Arkansas,” Griffin said. “His business success and record of philanthropy in Arkansas are legendary. Our thoughts and prayers are with the Tyson family today.”

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Dash Goff, a Fayetteville oil and gas businessman, said he was introduced to Tyson in Dallas about 40 years ago by Hayden McIlroy.

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“He was one of the smartest people I’ve ever met and from time to time I’ve asked him for business advice,” Goff said.

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“Your first loss is your least loss, a bad deal doesn’t get better and don’t chase bad money with good money,” are three significant business points Goff said Tyson would repeat.

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Don Tyson took over Tyson Foods Inc. of Springdale in 1967, after his father died.

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He led the company through a series of expansions that resulted in the company controlling 25 percent of the nation’s poultry market. He stepped down as CEO in 1991.

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One of Don Tyson’s foremost deals was leading the 1998 purchase of Hudson Foods for about $650 million. Don Tyson was senior chairman from 1995 to October 2001, when he retired and became a consultant to the company. He was chairman from 1991-1995, and chairman and CEO from 1967-1991.

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Don’s son John Tyson joined the company’s board of directors in 1984, became chairman in 1998 and became CEO in 2000.

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Don Tyson was inducted into the Arkansas Business Hall of Fame in 2000.