Equity analysts indicated in reports that they like Tyson's long-term prospects under the leadership of Donnie Smith and Jim Lochner, the company’s choices for CEO and COO, respectively.
Smith and Lochner were named to their new positions Thursday morning, according to Meatingplace.com Previously, Smith was senior group vice president of Tyson's Poultry and Prepared Foods division, and Lochner was senior group vice president of Tyson's Fresh Meats division.
The announcement brought to a close this chapter in Tyson's history, which began last January when former CEO Richard Bond stepped down. Leland Tollett, who preceded Bond as chairman and CEO, has served as interim president and CEO for the last 11 months.
Ken Goldman, J.P. Morgan analyst, said, "In our opinion, Mr. Smith is well-respected by much of the investment community. and his promotion should be received positively. … We have been impressed with Mr. Lochner's intelligence and honesty in the past, and we think his promotion will benefit the company."
Stephens Inc. analyst Farha Aslam agreed and added, "Both Donnie Smith and Jim Lochner are Tyson veterans, so the management transition should be smooth."