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Tyson names Bondar its accounting chief
Tyson Foods Inc. has hired Lori Bondar as its chief accounting officer.
Bondar, who will also be a senior vice president of the Springdale-based meat processor, will replace Phillip Thomas, who will stay with Tyson as its vice president and controller.
Thomas will focus more extensively on upcoming reporting requirements and “corporate transformation initiatives,” the company said this week in a government filing.
Bondar will get an annual base salary of $500,000, according to the document filed Monday with the Securities and Exchange Commission.
She’ll also get a $100,000 sign-on payment and a one-time $600,000 contribution to Tyson’s Executive Savings Plan, contingent on her staying with the company for at least two years.
In addition, Bondar will receive a $1.4 million restricted stock award. It will vest equally on each of the first three anniversaries of the grant date.
Bondar comes to Tyson from Avery Dennison Corp., which makes labels and other office materials. She started with Avery in 2008 and became its vice president, controller and accountant in 2010. She was appointed treasurer there in 2010.
Tyson Foods’ fourth-quarter revenue fell 2.8%, marking its third consecutive losing quarter. The company closed two plants this year to cut costs, and has said it will close six more plants next year.
Tyson reported annual revenue for 2023 of $52.88 billion, compared to last year’s revenue of $53.28 billion.
— Serenah McKay
Job cuts in the works at two Jeep factories
Stellantis NV said it may eliminate about 3,500 jobs at two Jeep production facilities in the U.S., offering more details on cuts the automaker has said were necessary because stricter emission standards in several states would slow sales of gas-powered vehicles.
The automaker plans to start eliminating about 1,200 positions in early February at its Jeep assembly complex in Toledo, Ohio, according to a notice posted Friday to a state website. Jodi Tinson, a Stellantis spokeswoman, said the company has also filed a notice with Michigan warning of as many as 2,455 job cuts at a facility in Detroit. However, the totals for both locations are likely to be lower because of the “complexity of our bargaining agreement” with organized labor, she said.
Stellantis said earlier this week that it was cutting production at the Detroit location, which makes Jeep Grand Cherokee sport utility vehicles and hybrids, and trimming jobs in Toledo, where it produces the Wrangler SUV and Jeep Gladiator pickup.
— Bloomberg News
4.69 drop puts index at closing of 866.38
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Friday at 866.38, down 4.69 points or 0.54%
For the week six stocks on the 13 stock index advanced while seven declined.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
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