Tyson Foods Inc. will pay outgoing Chief Operating Officer Devin Cole a lump sum of $10.58 million following his departure from the Springdale-based meat processing giant.
The separation agreement, finalized Tuesday, details the financial terms of the executive’s exit and the forfeiture of specific company-held assets. According to a filing with the U.S. Securities and Exchange Commission, the agreement stipulates that Cole will forfeit all outstanding performance stock. His existing time-based equity awards will be treated in accordance with the specific terms outlined in the separation deal.
As a condition of the payout, Cole is required to comply with restrictive covenants and confidentiality obligations. These legal provisions are standard in high-level corporate exits for major food processors, designed to protect proprietary information and trade secrets. They typically include non-compete clauses preventing an executive from joining a rival operation for a set period, though the specific duration of Cole’s restrictions was not detailed in the Wednesday announcement.
Tyson has named company veteran Wes Morris to succeed Cole. The announcement signals a return to familiar leadership for the operational wing of Arkansas’s largest private employer. Morris brings more than 20 years of tenure with the company to the role, having navigated various divisions within the poultry and prepared foods segments during his two decades at the firm.
The timeline of leadership changes at the top of Tyson’s poultry division is notable. Cole was initially announced as Morris’s successor as group president for poultry in February 2025. At that time, the move appeared to be a planned succession for the company’s largest business segment. Less than seven months later, in September, Cole was elevated to the role of chief operating officer, placing him in the C-suite.
