Tyson board appoints lead independent director

by Editor fleischwirtschaft.com
Wednesday, February 13, 2008

Tyson Foods’ board of directors appointed a lead independent director, a new chairman of its Compensation Committee.

In addition a Nominating Committee has been established.

Jim Kever, who has been a director since 1999, will serve in two additional capacities. As lead independent director, he will preside over sessions where independent directors meet outside the presence of insiders or company management.

Kever will also serve on the board’s Executive Committee, which also includes Don and John Tyson. He will continue to serve as chairman of the Audit Committee.

The Tyson board also appointed Kevin M. McNamara, who joined the board in 2007, to serve as chairman of its Compensation Committee. The primary functions of the Compensation Committee are to establish the company’s compensation policies and oversee the administration of the company's employee benefit plans.

The Nominating Committee, to be composed entirely of independent directors, will consist of Jim Kever, Albert C. Zapanta, and Jo Ann R. Smith, who will serve as the chairperson. They will be responsible for identifying qualified candidates to serve as directors, a task previously handled by the entire board.

The Nominating Committee’s first task in 2008 is to identify candidates to nominate to the board as a new independent director.
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