In a company statement summarizing an internal video presentation, Tollett was quoted as saying that returning the company's poultry business to profitability is his top priority. Noting last week's appointment of Donnie Smith as senior group vice president of Poultry and Prepared Foods, Tollett said the poultry business has been "rearranged."

"A limited number of corporate positions have also been eliminated," the statement said, adding, "Tollett indicated no major layoffs are planned."

Tollett, 71, came out of retirement to take charge on Monday when Richard Bond abruptly resigned. He was Tyson's CEO from 1991 to 1998 and was on the board of directors until early 2008.

His current tenure could be "a few months or longer if necessary," the statement said. "The company intends to select a new, permanent CEO as soon as possible and hopes the new leader can be identified from the existing, internal pool of management talent."

"I don't know if I will be in this interim position for three months or three years; however, I certainly hope it's closer to three months," Tollett was quoted as saying.

As for Tyson's beef and pork business, as well as its international and renewable products divisions, Tollett said they are in solid shape and the company will "just keep doing what we're doing in those areas and sharpen them up if we can."

Board seat

Tyson has a number of options in terms of the board of directors' seat vacated by Bond.

In a filing with the Securities and Exchange Commission, the company noted Bond will (obviously) not stand for re-election, a revision to the current proxy statement. The board may nominate a substitute candidate to be voted on at the company's Feb. 6 annual shareholders meeting. If it fails to do so, it can either appoint a new director later or elect to reduce the board size by not refilling the position.

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