Richard L. Bond

Richard L Bond is an American businessman.[1][2] He is the former President and CEO of Tyson Foods, Inc. (TSN).[1][2][3]

Biography

Early life

Richard Bond graduated from Elizabethtown College, where he received a Bachelor of Science in Business Administration.[2]

Career

He became President of IBP, Inc., a Midwestern hog and cattle slaughtering giant, which was in 2001 acquired by Tyson Foods.[1] He was appointed Co-Chief Operating Officer and Group President, Fresh Meats and Retail, - an appointment the Wall Street Journal described as intended to reassure investors, and then became President and Chief Operating Officer in 2003.[4] Mr. Bond worked under Don Tyson's son, John H. Tyson, until 2006, when Mr. Bond was rewarded with the CEO job. While CEO of Tyson Foods in 2008, he earned a total compensation of $4,777,807, which included a base salary of $1,251,204; options granted of $2,610,000; and other compensation of $916,603.[5] He left Tyson Foods on January 5, 2009, reportedly amidst tensions with Don Tyson. He had reported in November 2008 that Tyson's finances were worsening. Industry observers said that Bond, who has a reputation as a cost cutter, debated with Mr. Tyson, who is said to more aggressively seek market share, over whether to cut chicken production to improve prices.[3]

References

  1. 1 2 3 Bloomberg BusinessWeek
  2. 1 2 3 2008 Forbes CEO Compensation: Richard L. Bond
  3. 1 2 Lauren Etter, Joann S. Lublin, Scott Kilmann, CEO Quits at Meat Giant Tyson , The Wall Street Journal, January 5, 2009
  4. ↑ Tyson Foods, Inc. DEF14A filed December 30, 2008, www.sec.gov/edgar.shtml
  5. ↑ Equilar 2008 CEO Compensation for Richard L. Bond
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