During a speech at the 2017 Consumer Analyst Group of New York (CAGNY) Conference this week, Tyson Foods president and chief executive officer Tom Hayes outlined his vision for how the company will shape the future of food. Along with Sally Grimes, president of Tyson’s retail business, Hayes said the company is strong today and will lead in the future by growing its portfolio of protein-packed brands and delivering sustainable food at scale.
“The purpose of our company is to raise the world’s expectations for how much good food can do, and we’re uniquely positioned to deliver just that,” Hayes said.
Tyson will continue investing in innovation that will bring to market a wide variety of new products that meet consumers’ desire for fresh food and more protein and in flexible forms that can be eaten seamlessly throughout the day. The company highlighted a dozen new products and announced that all Tyson consumer brand products will feature "no antibiotics ever" (NAE) chicken.
“We’re driving growth through strong innovation and brand building,” Grimes said.
The company is also deepening its commitment to a more sustainable food system and said it plans to develop new solutions that deliver healthier food, healthier animals, healthier workplaces and a healthier environment. In this commitment, Tyson said it sees a long-term opportunity to grow and increase profits sustainably.
The company’s holistic sustainability plan includes such commitments as:
- Expanding its NAE chicken offerings, making Tyson the world’s leading producer of NAE chicken;
- Setting a goal of reducing workplace injuries and illnesses 15% year over year;
- Establishing strategic partnerships to set science-based sustainability goals;
- Continuing third-party audits of farms to certify humane treatment of chickens;
- Improving how chickens are raised through a concept farm, with innovations designed to be better for the birds, the environment and food safety, and
- Increasing transparency across the business, including sustainability efforts.
“For us, sustainability isn’t a single issue; it’s about focusing on multiple dimensions in order to advance the whole,” Hayes said. “We will use our reach, capabilities and resources to drive positive change at a scale we believe no other company can match.”
Hayes also said Tyson’s new approach to financial fitness will fund investments in long-term growth. It will include efforts to reduce waste across the company, the allocation of capital for growth and transforming business models through technology.
To reflect the new direction of the company, Tyson also unveiled a new corporate logo.