According to a September 14th SEC filing, Stewart Glendinning currently president of Prepared Foods at Tyson Foods Inc. has resigned. He was appointed to his current position in October previously serving for a five-year term as the CFO of the company. Prior to joining Tyson Foods in December 2017 Glendinning was president and CEO of Molson Coors International. He has also gained extensive industry experience with KPMG and the Hackett Group.
In a company statement, Tyson Foods acknowledged the contribution of Glendinning as CFO and more recently as president of Prepared Foods.
The question arises as to the apparent fluid structure among the executive ranks at Tyson Foods. A number of high-level appointments and resignations and retirements have occurred during the past two years including a short-term CEO. Either the company is executing a predetermined strategy for long-term profitability or there are problems relating to reporting relationships, organizational jurisdiction, and culture. The fact that Glendinning was displaced from his position as CFO, possibly the second most important position in the company, to be replaced by the nephew of the Chairman raises some questions among observers especially given that Glendinning resigned within a year of assuming his position as president of Prepared Foods.