Tyson Foods 2004 Annual Report Download - page 7

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5
Our company is stronger today because of our asset
rationalization. While maintaining capacity, we closed
and consolidated seven operations in the past two years.
In the future, we will continue to evaluate more oppor-
tunities for improving efficient use of our assets.
An on-going goal we have at Tyson Foods is to develop
our people. We made strides this year in identifying
and preparing team members to become our future
leaders through our Emerging Leaders development and
mentoring program. As I see team members learning
and growing in their careers, I am confident Tyson Foods
will be in capable hands for years to come.
Another extremely capable person is now part of Tyson
Foods. Albert Zapanta has been elected to the Board
of Directors. He is our first Hispanic board member, and
his appointment brings the total number on the Tyson
Foods board to 10, with five members being considered
“independent.” Leland Tollett was named lead director.
Sadly, we lost a valued member of our board and a
pioneer in our industry when Bob Peterson passed
away in May. His wisdom and experience were crucial
in forming the new company, and he will be missed.
I am proud of the hard work our team members do every
day to make Tyson Foods a great food company and to
create long-term value for you, our shareholders. We will
continue building on our success and our position as the
world’s leading protein company. This has been a good
year for us, and we’re looking forward to another good
year in 2005.
John Tyson
Chairman and Chief Executive Officer
3,987
3,604
3,362
TOTAL
DEBT
DOLLARS IN MILLIONS
52.1%
47.7%
43.9%
DEBT TO
CAPITAL
RATIO
2002 2003 2004 2002 2003 2004
Tyson Foods has
reduced debt by
$1.5 billion since
August 2001.