In this file:
· Tyson Foods’ plant-based ‘First Pride’ debuts in Asia
· U.S. meat giant Tyson Foods to launch plant-based food in Asia-Pacific
· Tyson Foods Replaced Dean Banks as CEO After 8 Months in Job
Tyson Foods’ plant-based ‘First Pride’ debuts in Asia
By Erica Shaffer, Meat+Poultry
BANGKOK – Tyson Foods Inc. launched a new line of plant-based products in Asia for the first time. The frozen Bites, Nuggets and Strips made with plants will be sold in Malaysia under the First Pride brand. The products are halal certified and made with regionally sourced ingredients including bamboo fiber, soy protein and wheat protein.
“We’re thrilled to offer Asia Pacific consumers more high-quality protein choices as they explore flexitarian diets,” said Tan Sun, president, Tyson Foods APAC. “The Asian market is a natural fit for this category with traditional plant-based products like tofu already entrenched in the culture.
“The key to meeting consumer preferences with new plant-based protein is through innovation and making locally relevant products that taste great, which is our expertise,” he said.
The company is initially launching the products in Malaysia and will roll them out to other markets in the region in the coming months...
U.S. meat giant Tyson Foods to launch plant-based food in Asia-Pacific
Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli, Reuters
via Metro US - June 2, 2021
(Reuters) – U.S. meat processor Tyson Foods Inc will launch its plant-based food in select Asia-Pacific markets starting this month, as it looks to cash in on the burgeoning demand for meat substitutes in the region its rivals have set out to capture.
Impossible Foods Inc, Nestle SA, Beyond Meat Inc have already entered Asia with their plant-based meat products, expecting rising demand for the protein from consumers conscious about health, animal welfare and the environment.
Retail sales of meat substitutes in Asia-Pacific reached $16.3 billion in 2020 and are expected to exceed $20 billion by 2025, according to data provided by Euromonitor to Tyson Foods.
“The Asian market is a natural fit for this category with traditional plant-based products like tofu already entrenched in the culture,” Tan Sun, president, Tyson Foods Asia-Pacific, said in a statement.
Tyson Foods, the biggest U.S. producer of animal meat by sales, said on Tuesday it would first roll out plant-based nuggets, strips, and bites in Malaysia under its First Pride brand...
Tyson Foods Replaced Dean Banks as CEO After 8 Months in Job
By Simon Casey, Bloomberg
June 2, 2021
Tyson Foods Inc. appointed Donnie King as chief executive officer, replacing Dean Banks who has been in the top job at the largest U.S. meat producer for just eight months.
Banks is leaving Tyson for “personal reasons,” the Springdale, Arkansas-based company said Wednesday in a statement. King, most recently chief operating officer, becomes CEO with immediate effect.
“Upon deep personal reflection, and discussions with my family, the board, and my colleagues, I believe that stepping down and concentrating on my family is the right decision at this time,” Banks said in the statement.
Banks succeeded Noel White as CEO in October. White, now vice chairman at Tyson and who saw the company through the disruption caused by the pandemic, took the role in 2018 after the departure of Tom Hayes, who lasted less than two years in the job.