February 12, 2008

Tyson appoints lead independent director, compensation committee chair

Tyson Foods announced the appointment of its lead independent director, a new chairman of its compensation committee and the establishment of a nominating committee.

Jim Kever, who has been a director since 1999, will serve as lead independent director, in which 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 includes Don and John Tyson. The primary function of the executive committee is to act on behalf of the board during intervals between regularly scheduled quarterly meetings. Kever will continue to serve as chairman of the Audit Committee.

The Tyson board also appointed Kevin 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 Zapanta and Jo Ann Smith, who will serve as chairwoman.

They will be responsible for identifying qualified candidates to serve as directors, a task previously handled by the entire board.

Aside from fresh meats, Tyson produces processed and pre-cooked meats, refrigerated and frozen prepared foods, and animal feeds.