In a move that signals Tyson Foods Inc. believes its chicken business is again profitable, the world's largest meat maker has named a new CEO to replace interim head Leland Tollett, who had been tapped in January to help weather an industry downturn.
Donnie Smith, Tyson's senior group vice president of poultry and prepared foods, will take over for Tollett immediately, according to a statement from the company, which is based in Springdale, Ark.
In January, Tollett returned to the company he led from 1991 to 1998 to see the chicken business through a slump involving record high prices for key ingredients like corn and weak restaurant demand that hurt prices it …
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