Tyson Foods Appoints Jeff Schomburger as CEO with $1.6M Salary
PG•Tyson Foods named Jeff Schomburger president and CEO effective October 4, 2026 after a July transition period, with Donnie King remaining on the board. The 64-year-old P&G veteran will receive a $1.6 million base salary, a 200% annual incentive target, $11 million in long-term incentives and $2.8 million in initial RSUs.
1. Leadership Transition
Jeff Schomburger has been named president and chief executive of Tyson Foods effective October 4, 2026, with a handoff period beginning in July 2026. Outgoing CEO Donnie King, who led Tyson through four decades including the pandemic, will retain his seat on the board of directors.
2. Executive Background
Schomburger, 64, joined the Tyson Foods board in 2016 and became lead independent director in November 2025. He built a 35-year career at Procter & Gamble, serving as global sales officer and leading the global Walmart team from 2005 to 2015.
3. Compensation Package
Under his employment agreement, Schomburger will earn a $1.6 million annual base salary, an annual incentive target equal to 200% of base salary and a long-term incentive target of $11 million per year. He will also receive a one-time grant of restricted stock units valued at $2.8 million, vesting over three years.
4. Strategic Outlook
Schomburger plans to focus on strengthening Tyson’s brands, accelerating AI-driven opportunities and driving growth with customers and consumers. The board has reaffirmed its existing fiscal 2026 financial guidance under the new leadership.
