Veteran leader Wes Morris named Tyson Foods (NYSE: TSN) COO
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Tyson Foods, Inc. announced that long-time executive Wes Morris will become Chief Operating Officer on June 15, 2026, succeeding Devin Cole, who will retire from the company. Morris has more than 20 years of experience at Tyson, including leadership of Prepared Foods and Poultry.
Under a new employment agreement, Morris will receive a $1,350,000 annual base salary, a target annual incentive equal to 160% of base salary, and a $5,900,000 annual long-term incentive target. He will also receive an initial restricted stock unit grant valued at $1,500,000, vesting in three equal annual installments.
If Tyson terminates him without cause or he resigns for good reason, Morris is entitled to two years of base salary, a pro-rata bonus based on actual performance, up to 18 months of continued medical coverage, and is subject to 24-month non-competition and 36-month non-solicitation restrictions. The company furnished a press release with additional background on his role overseeing major business segments.
Positive
- None.
Negative
- None.
Insights
Tyson reshapes its C-suite with an internal veteran as COO, on standard large-cap executive terms.
The company is elevating Wes Morris, a seasoned insider with deep operational experience in poultry and prepared foods, to oversee all major business segments. This suggests continuity, as he has previously held senior roles and consulted for Tyson.
The compensation framework—$1.35M base salary, a 160% bonus target, and a $5.9M long-term incentive target—aligns with typical large-cap executive packages, with pay heavily performance- and equity-based. The $1.5M RSU grant that vests over three years encourages retention.
Severance terms of two years’ base salary, a pro-rata bonus, and up to 18 months of medical coverage, along with 24-month non-compete and 36-month non-solicit clauses, balance protection for both sides. Overall impact on the investment thesis appears neutral, pending future disclosures on how Morris drives operational results.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
COO base salary: $1,350,000 per year
Annual incentive target: 160% of base salary
Long-term incentive target: $5,900,000 per year
+5 more
8 metrics
COO base salary
$1,350,000 per year
Annual base salary for Wes Morris as COO
Annual incentive target
160% of base salary
Target bonus opportunity for Wes Morris
Long-term incentive target
$5,900,000 per year
Annual long-term incentive target for Wes Morris
Initial RSU grant
$1,500,000 grant date fair value
Restricted stock unit award granted July 10, 2026
Severance multiple
2 years of base salary
Paid if terminated without cause or resigns for good reason
Aircraft personal use
30 hours per year
Personal use of company-owned aircraft for Wes Morris
Non-compete period
24 months
Post-termination non-competition restriction
Non-solicitation period
36 months
Post-termination non-solicitation restriction
Key Terms
restricted stock units, non-competition restriction, good reason, gross up, +2 more
6 terms
restricted stock units financial
"an initial grant on July 10, 2026 (the “Grant Date”) of restricted stock units (the “Restricted Stock Unit Award”)"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
non-competition restriction financial
"The Employment Agreement contains a non-competition restriction for a period of 24 months post-termination"
good reason financial
"or if Mr. Morris resigns for “good reason”, the Company will pay Mr. Morris an amount equal to two years’ base salary"
gross up financial
"The current Company policy is to “gross up” for tax purposes any approved personal use of Company-owned aircraft."
Regulation FD Disclosure regulatory
"Item 7.01 Regulation FD Disclosure A copy of the press release announcing this executive transition is furnished as Exhibit 99.1."
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
forward-looking statements regulatory
"Certain information in this report constitutes forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 8, 2026
(Exact name of Registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||||||||||||||
(Address of Principal Executive Offices) | (Zip Code) | |||||||||||||||||||||||||
(Registrant's telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities Registered Pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||||||||
| Par Value | $ | |||||||||||||
Class B stock is not publicly listed for trade on any exchange or market system. However, Class B stock is convertible into Class A stock on a share-for-share basis.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of New Chief Operating Officer
On June 8, 2026, Tyson Foods, Inc. ("the Company") announced that it appointed Wes Morris as Chief Operating Officer (“COO”), effective June 15, 2026. Devin Cole, the Company’s Chief Operating Officer, will step down from his role effective the same day.
Mr. Morris, 60, was most recently the Company’s Group President, Poultry from January 2023 to February 2025, and remained an employee of the Company until February 2026. Mr. Morris had also served as a consultant to the Company from October 2020 to January 2023. Mr. Morris was previously employed by the Company from 1999 until 2017, and has served in many leadership roles, including as President, Prepared Foods Operations.
There is no family relationship between Mr. Morris and any director or officer of the Company, nor is there any arrangement or understanding between Mr. Morris and any other person(s) pursuant to which Mr. Morris was selected to serve as the Company’s Chief Operating Officer. Mr. Morris is not party to any related party transactions required to be reported pursuant to Item 404(a) of Regulation S-K.
In connection with Mr. Morris’s appointment and continuing while he serves as the Company’s COO, he entered into an employment agreement (the “Employment Agreement”) with the Company on June 4, 2026. The Employment Agreement provides for, among other things, an annual base salary of $1,350,000, participation in the Company’s annual performance incentive programs on terms and in amounts as determined by the Compensation and Leadership Development Committee (“CLDC”) of the Board, eligibility for equity awards under the Company’s equity incentive plans on terms and in amounts as determined by the CLDC, and participation in the Company’s benefit plans. Mr. Morris’s annual incentive target will be 160% of base salary and his annual long-term incentive target will be $5,900,000. In connection with Mr. Morris’s appointment, the CLDC approved an initial grant on July 10, 2026 (the “Grant Date”) of restricted stock units (the “Restricted Stock Unit Award”) with a grant date fair value of $1,500,000. The Restricted Stock Unit Award vests in one-third tranches each year over three years after the Grant Date, subject to continued employment.
The Employment Agreement also provides that upon a termination by the Company (other than for “cause” or by reason of death or permanent disability) or if Mr. Morris resigns for “good reason”, the Company will pay Mr. Morris an amount equal to two years’ base salary, a pro-rata cash bonus for the year of termination based on actual performance, plus continued medical coverage for up to 18 months. Additionally, Mr. Morris is entitled to personal use of the Company-owned aircraft for up to 30 hours per calendar year in a manner consistent with the Company’s policy governing aircraft use by executive officers. The current Company policy is to “gross up” for tax purposes any approved personal use of Company-owned aircraft. The Employment Agreement contains a non-competition restriction for a period of 24 months post-termination and a 36-month post-termination non-solicitation restriction.
The foregoing summary of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending June 27, 2026. The Company expects to enter into a separation agreement with Mr. Cole. If and when the agreement is entered into, the material terms will be described in an amendment to this Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure
A copy of the press release announcing this executive transition is furnished as Exhibit 99.1.
The information in the preceding paragraph, as well as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. This information may only be incorporated by reference into another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references this Current Report on Form 8-K.
Forward Looking Statements
Certain information in this report constitutes forward-looking statements. Such forward-looking statements include statements regarding the departure and appointment of certain executive officers of the Company, including the timing of such transitions. We caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. These forward-looking statements are subject to a number of factors and uncertainties that could cause our actual results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company’s filings with the Securities and Exchange Commission, including in Part I, Item 1A. “Risk Factors” included in our Annual Report on Form 10-K for the fiscal year ended September 27, 2025. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
2
Item 9.01 Financial Statements and Exhibits
(d)Exhibits
Exhibit Number | Description | ||||
| 99.1 | Press Release, dated June 8, 2026 | ||||
| 104 | Cover Page Interactive Data File formatted in iXBRL. | ||||
3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TYSON FOODS, INC. | |||||||||||
| Date: June 8, 2026 | By: | /s/ Curt T. Calaway | |||||||||
| Name: | Curt T. Calaway | ||||||||||
| Title: | Chief Financial Officer | ||||||||||
4
Exhibit 99.1
Tyson Foods Names Wes Morris Chief Operating Officer
Springdale, Ark. – June 8, 2026 – Tyson Foods, Inc. (NYSE: TSN) announced today the appointment of Wes Morris as Chief Operating Officer (COO). As COO, Morris will oversee the company’s business segments, including Chicken, Beef, Pork, Prepared Foods and International.
Morris brings more than 20 years of experience with Tyson Foods, including prior leadership roles as president of the Prepared Foods and Poultry businesses. His appointment reinforces the company’s commitment to operational excellence.
“Wes Morris has a proven track record of executing against operational priorities across key segments of the business,” said Jeff Schomburger, incoming President and Chief Executive Officer of Tyson Foods. “His deep understanding of our operations, combined with our shared focus on serving customers and consumers, will help position the company for long-term growth and continued success.”
"I'm excited to return at this pivotal moment," said Morris. "We have a strong foundation in place, and I'm committed to operational discipline as the company continues to advance its strategic priorities and execute its growth plan.”
Morris begins his role on June 15. Devin Cole will be retiring from Tyson Foods. The company thanks him for his many contributions.
About Tyson Foods, Inc.
Tyson Foods, Inc. (NYSE: TSN) is a world-class food company and recognized leader in protein. Founded in 1935 by John W. Tyson, it has grown under four generations of family leadership. The Company is unified by this purpose: Tyson Foods. We Feed the World Like Family™ and has a broad portfolio of iconic products and brands including Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, State Fair®, Aidells® and ibp®. Tyson Foods is dedicated to bringing high-quality food to every table in the world, safely and affordably, now and for future generations. Headquartered in Springdale, Arkansas, the Company is a member of the S&P 500 and Russell 1000 large capitalization indices. It had approximately 133,000 team members on September 27, 2025. Visit www.tysonfoods.com.
FAQ
What leadership change did Tyson Foods (TSN) announce in this 8-K?
Tyson Foods announced that Wes Morris will become Chief Operating Officer on June 15, 2026, succeeding Devin Cole, who is retiring. Morris will oversee major segments including Chicken, Beef, Pork, Prepared Foods and International, drawing on more than 20 years of experience at the company.
What is Wes Morris’s compensation as Tyson Foods’ new COO?
Wes Morris’s employment agreement provides a $1,350,000 annual base salary, a target annual incentive equal to 160% of base salary, and an annual long-term incentive target of $5,900,000. He also receives an initial restricted stock unit grant with a grant date fair value of $1,500,000, vesting over three years.
What severance protections does Wes Morris have at Tyson Foods (TSN)?
If Tyson terminates Wes Morris without cause or he resigns for good reason, he receives two years of base salary, a pro-rata bonus for the year of termination based on actual performance, and up to 18 months of continued medical coverage. These benefits are subject to post-employment non-compete and non-solicitation covenants.
What equity award did Tyson Foods grant to new COO Wes Morris?
In connection with his appointment, Tyson Foods approved a restricted stock unit award for Wes Morris with a grant date fair value of $1,500,000. The RSUs vest in one-third increments annually over three years after the July 10, 2026 grant date, contingent on his continued employment with the company.
Does Wes Morris receive any additional perquisites as Tyson Foods COO?
Yes. The agreement entitles Wes Morris to personal use of a company-owned aircraft for up to 30 hours per calendar year, consistent with Tyson’s executive aircraft policy. The current policy is to gross up approved personal aircraft use for tax purposes, effectively covering associated income tax obligations for this benefit.
Are there non-compete or non-solicitation clauses in Wes Morris’s Tyson Foods contract?
The employment agreement includes a 24-month post-termination non-competition restriction and a 36-month post-termination non-solicitation restriction. These covenants are designed to limit Morris from joining certain competitors or soliciting Tyson’s employees or business relationships for a specified period after his employment ends.
What disclosure did Tyson Foods provide under Regulation FD in this filing?
Tyson Foods furnished a press release as Exhibit 99.1 announcing Wes Morris’s appointment as Chief Operating Officer. The company specified that this information, and the exhibit, are being furnished under Regulation FD and are not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.