Tyson Foods 2009 Annual Report Download - page 81

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81
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
Not applicable.
ITEM 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
An evaluation was performed, under the supervision and with the participation of management, including Leland E. Tollett, the
former Interim Chief Executive Officer, and the Chief Financial Officer (CFO), of the effectiveness of the design and operation of our
disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the 1934
Act)). Based on that evaluation, management, including Mr. Smith, our new Chief Executive Officer and our CFO, has concluded
that, as of October 3, 2009, our disclosure controls and procedures were effective to ensure that information required to be disclosed
in reports we file or submit under the 1934 Act has been recorded, processed, summarized and reported in accordance with the rules
and forms of the Securities and Exchange Commission.
Changes in Internal Control Over Financial Reporting
In the quarter ended October 3, 2009, there have been no changes in the Company’s internal control over financial reporting that have
materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
Management’s Annual Report on Internal Control Over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules
13a-15(f) of the Securities Exchange Act of 1934. Our internal control system was designed to provide reasonable assurance to
management and the board of directors regarding the preparation and fair presentation of published financial statements. Because of
its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any
evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in
conditions, or the degree of compliance with the policies or procedures may deteriorate. Management conducted an evaluation of the
effectiveness of our internal control over financial reporting as of October 3, 2009. In making this assessment, we used criteria set
forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated
Framework.
Based on this evaluation under the framework in Internal Control – Integrated Framework issued by COSO, Management concluded
the Company’s internal control over financial reporting was effective as of October 3, 2009.
The Company's independent registered public accounting firm, Ernst & Young LLP, has audited the financial statements included in
this Form 10-K and has issued an attestation report on the Company's internal control over financial reporting. The attestation report
on the Company’s internal control over financial reporting appears in Part II, Item 8.
ITEM 9B. OTHER INFORMATION
On November 19, 2009, we announced the appointment of Donnie Smith as President and Chief Executive Officer. In connection
with Mr. Smith’s appointment, Leland E. Tollett stepped down as our Interim President and Chief Executive Officer and will continue
to provide consulting services.
Mr. Smith, age 50, was previously Senior Group Vice President, Poultry and Prepared Foods since January 2009, after serving as
Group Vice President of Consumer Products since January 2008, Group Vice President of Logistics and Operations Services since
April 2007, Senior Vice President Information Systems, Purchasing and Distribution since May 2006, Senior Vice President and
Chief Information Officer since November 2005, and Senior Vice President, Supply Chain Management since October 2001. Mr.
Smith has been employed by the Company since 1980.
Also on November 19, 2009, we announced the appointment of James V. Lochner as Chief Operating Officer. Mr. Lochner, age 57,
was previously Senior Group Vice President, Fresh Meats and Margin Optimization since May 2006, after serving as Senior Group
Vice President, Margin Optimization, Purchasing and Logistics since October 2005, Group Vice President, Purchasing, Travel, and
Aviation since November 2004 and Group Vice President, Fresh Meats since 2001. Mr. Lochner was initially employed by IBP in
1983.