Tyson Foods long-time chief executive King to retire in October

Tyson Foods Inc., which has a major poultry-processing plant in Wilkesboro, announced Thursday that chief executive Donnie King is retiring on Oct. 4 after 43 years with the company.

King will remain on the Tyson board of directors.

Jeff Schomburger, age 64, has been hired as company president and chief executive, effective Oct. 4. He will initially be hired as a senior executive on July 1.

Tyson Foods has about 2,400 employees at its Wilkesboro operational hub. The company eliminated between 305 and 400 jobs at the plant between November 2023 and August 2024 as part of consolidating its nationwide chicken processing operations.

The company, based in Springdale, Ark., credits King with successfully leading the company through the COVID-19 pandemic and "meaningfully enhanced its strategic direction by accelerating innovation and driving significant efficiency."

"Donnie King's long tenure at Tyson Foods, including his leadership as CEO, has strengthened our business and shaped our culture," Tyson added. "We are grateful for his steady guidance and look forward to continuing to leverage his expertise within the board."

Schomburger has been a member of the Tyson's board since 2016, including becoming lead independent director in 2025. Tyson said his board tenure "provides him a strong understanding of the company's operations and strategy."

Schomburger has held multiple senior leadership positions throughout his 35-year tenure at Procter & Gamble, retiring as its global sales officer in 2019.

Tyson chairman John Tyson said Schomburger's "experience will help us accelerate our strategic priorities and unlock new ways to win with customers and consumers - a key focus of our growth strategy. "

Schomburger said he is "energized by the opportunity to strengthen our iconic brands with superior products, capitalize on emerging opportunities through AI acceleration, and continue to win with customers and consumers."

King was paid $1.66 million in base salary for fiscal 2025, along with $9.4 million in incentive pay and total compensation of $34.47 million when including stock- and stock-option awards valued at $22.6 million.

Tyson said in a regulatory filing Thursday that Schomburger will start with a $1.6 million base salary, along with a potential $3.2 million in annual incentive pay.

Tyson is providing Schomburger with stock awards valued at $2.8 million that vest over a three-year period.

Schomburger will receive a relocation assistance lump sum payment in the amount of $75,000.

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