Tyson Foods Inc. TSN, +0.75% said Wednesday that Chief Executive Dean Banks is leaving the company for personal reasons, after about eight months as CEO. The food company, with brands including Tyson, Jimmy Dean and Hillshire Farm, named Chief Operating Officer Donnie King as CEO, effective immediately. “Upon deep personal reflection, and discussions with my family, the board, and my colleagues, I believe that stepping down and concentrating on my family is the right decision at this time,” Banks said. The news comes a little more than two weeks after the company announced a deal to sell its pet treats business for $1.2 billion to General Mills Inc. GIS, -0.32%. The stock, which edged up 0.8% in premarket trading, has rallied 39.5% over the past 12 months, while the S&P 500 SPX, -0.05% has gained 36.4%.
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