Tyson Foods Completes Waterloo Investigation
Tyson Foods announced the termination of seven management employees at its Waterloo, Iowa pork plant following an independent investigation into wagering allegations. CEO Dean Banks emphasized the company’s commitment to integrity and core values, expressing disappointment over the behaviors uncovered. To restore trust, Tyson plans to enhance communication with employees and engage community leaders. Former Attorney General Eric Holder's team will assist in improving workplace respect and trust. Tyson Foods, a major player in the global protein market, employs 139,000 people.
- Immediate corrective actions taken by terminating seven management employees.
- Commitment to enhancing communication channels for employee feedback.
- Engagement of former Attorney General Eric Holder to improve workplace integrity.
- Allegations of misconduct may harm company reputation.
- Termination of management could destabilize operations at the Waterloo plant.
SPRINGDALE, Ark., Dec. 16, 2020 (GLOBE NEWSWIRE) -- An independent investigation into wagering allegations at Tyson Foods’ pork plant in Waterloo, Iowa, has led to the termination of seven plant management employees.
“We value our people and expect everyone on the team, especially our leaders, to operate with integrity and care in everything we do,” said Tyson Foods President & CEO Dean Banks. “The behaviors exhibited by these individuals do not represent the Tyson core values, which is why we took immediate and appropriate action to get to the truth. Now that the investigation has concluded, we are taking action based on the findings.”
Upon learning of the allegations, Banks and others immediately traveled to Waterloo last month and again today to meet with Waterloo plant team members and community leaders to reinforce Tyson’s commitment to them and the community, including through:
- Opening more communication channels to hear team member voices
- Creating a working group of local community leaders to strengthen collaboration
- Reinforcing the importance of Tyson Foods’ core values and team behaviors
“The commitment and passion that our team members exhibit every day is core to who we are at Tyson. We were very upset to learn of the behaviors found in the allegations, as we expect our leaders to treat all team members with the highest levels of respect and integrity,” said Banks. “That’s why we have asked former Attorney General Eric Holder and his team to partner with Tyson to help us as we continue to look for ways to enhance a trusting and respectful workplace.”
About Tyson Foods
Tyson Foods, Inc., (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, United States, the company has 139,000 team members. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit WWW.TYSONFOODS.COM.
Contact: Gary Mickelson, 479-236-9022
Category: IR, Newsroom
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