Tyson Foods Names Board Member Jeff Schomburger as CEO, Donnie King to Step Down in October

Tyson Foods Inc. has appointed longtime board member Jeff Schomburger as its new president and CEO, effective October 4, 2026, replacing Donnie King who will step down after 43 years with the company. King will remain on Tyson’s board and assist Schomburger during a three-month transition beginning in July. The announcement, made on May 28, 2026, sent Tyson’s stock down as much as 6.1% intraday to its lowest point in two months, though shares are still up about 14% over the past 12 months. Analysts at JPMorgan called the appointment unexpected, noting that internal candidates like COO Devin Cole had been expected. Schomburger, who joined Tyson’s board a decade ago, brings limited operational experience in the protein industry but extensive retail background from his 34-year tenure at Procter & Gamble, where he served as global sales officer and retired in 2019. Barclays analysts highlighted Schomburger’s retail market expertise, suggesting it could help Tyson improve retail execution.

At 64 years old, his potential short tenure was also noted. The leadership change follows a 2024 scandal involving John R. Tyson, the founder’s great-grandson, who was removed as CFO after an arrest for alleged impaired driving. Tyson’s board chairman, John H. Tyson, expressed confidence in Schomburger’s ability to lead the company’s next growth phase, citing his strategic priorities and customer focus. King’s departure comes amid Tyson’s challenges in the beef sector, including losses driven by tight cattle supply and the closure of a Nebraska processing plant.

However, strong chicken demand and growth in prepared foods—with second-quarter adjusted operating income up 7% year-over-year—have supported overall results. Tyson also raised its full-year profit outlook earlier in May. The company reaffirmed its fiscal-year guidance in its latest release. Tyson ranks No. 9 on Transport Topics’ Top 100 list of largest private carriers in North America and No. 1 among agriculture/food processing carriers.