Source:  Bill McDowell, MEATINGPLACE.COM, 11/19/09

Tyson Foods announced Thursday morning that its board of directors has named Donnie Smith as the company's new president and chief executive officer and Jim Lochner as chief operating officer, effective immediately.

Smith was previously senior group vice president of Tyson's Poultry and Prepared Foods division; Lochner was senior group vice president of Tyson's Fresh Meats division.

Smith's appointment relieves Leland Tollett, who served as interim president and CEO in January following the resignation of former CEO Richard Bond.

"We appreciate Leland Tollett stepping into the CEO role earlier in the year and working so hard to help turn the company around," Chairman John Tyson said in a press release. "Significant progress has been made. I have worked with both Donnie and Jim for a number of years and am convinced that they are the right leadership team for this next phase in the evolution of our company. Their extensive experience inside the company has fully prepared them to continue the progress we have made in the last year."

Tollett will continue for an unspecified period to assist Smith and Lochner in the transition, the company said.