Tyson Foods 1999 Annual Report Download - page 20

focused business groups – Food Service, Consumer
Products, International and Prepared Foods. Each
business group is responsible for sales and production,
operational planning, efficient use of capital and
profitability. These groups are supported by typical
shared services activities including finance, legal,
human resources, quality assurance and supply chain.
In addition, we centralized two new functions. We
formed Production and Technical Services groups to
ensure consistency and advance the Company’s
industry leadership in production practices and cost
management. The Company consolidated its marketing
activities under a Chief Marketing Office to maximize
efforts in building the Tyson brand among all products
and business groups.
Greater responsibility for operating and financial
decisions have been established, delegated in a struc-
tural manner, with accountability readily determined.
The people within these business groups, as well as
all our other support groups, responded remarkably
to this change.
To complement our organizational realignment,
we formed a Tyson team to develop a “balanced
scorecard” measurement system emphasizing return
on invested capital. Along with a corporate scorecard,
balanced scorecards have been developed for each
of our operating divisions. The scorecards are based
on specific objectives not only for returns on invest-
ments but also for earnings, sales growth, operational
performance, customer satisfaction and emphasis on
our people. Our incentive pay plan for fiscal 2000 will
reward our people for performance against these
objectives – objectives centered on increasing value
for our shareholders.
As we look forward, we are excited about the
Company. Tyson Foods is a stronger company than it
was even just two years ago. Change isn’t easy, not
for individuals, groups or a company. But it is clear
this year’s changes have laid the foundation for our
Company to achieve the performance we want in the
21st Century. Our business organization and operations
are aligned with both our customers and our financial
objectives. Tyson is among the most recognized
brands in the food industry. It stands for high quality
products, food safety, service, social responsibility
and environmental consciousness.
We would like to thank the Tyson team members
for their commitment to building upon the foundation
we have today for the Company’s future success. It
is a success that is more assured than ever thanks to
the countless people in our Company who can’t wait
to get to work every morning to make a difference
in what we do.
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John Tyson (far right) and Wayne Britt (middle left) with Carlos Reyes and
Kathy Holmes at the Springdale Berry Street Plant quality assurance lab.
JOHN TYSON
Chairman of the Board
WAYNE BRITT
Chief Executive Officer