Deltic CEO retires; Leland interim chief
Ray Dillon, chief executive officer of Deltic Timber for 13 years, retired from his position Monday, the El Dorado-based firm said.
The board of directors elected Mark Leland, 54, a director, as interim chief executive officer until a permanent replacement for Dillon, 61, can be found. A national search will be conducted to find Dillon's replacement, Deltic said.
"I would like to thank Deltic Timber's Board of Directors and shareholders for the privilege of leading this asset-rich company for the past 13 years," Dillon said in a prepared statement. "I retire knowing Deltic is well positioned to deliver excellent future financial and operational results."
Kenneth Mann, Deltic's chief financial officer, did not return a phone call seeking an explanation for Dillon's retirement.
Robert Nolan remains Deltic's chairman of the board.
-- David Smith
Tyson Foods buys 5% of Beyond Meat
Tyson Foods, one of the country's largest meat producers, now owns a 5 percent stake in Beyond Meat, a California-based plant-protein producer that sells "burgers" and other meat substitutes at some Whole Foods grocery stores.
Tyson will help Beyond Meat expand its products to more stores. Beyond Meat is also getting funding from The Humane Society of the United States and Microsoft founder and philanthropist Bill Gates.
"We're enthusiastic about this investment, which gives us exposure to a fast-growing segment of the protein market," Monica McGurk, Tyson's executive vice president of strategy and new ventures, said Monday in a news release. "It meets our desire to offer consumers choices and to consider how we can serve an ever-growing and diverse global population, while remaining focused on our core prepared foods and animal protein businesses."
-- Claire Williams
Arkansas Index rises 3.07; 12 stocks gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, climbed 3.07 to 337.74 Monday.
Thirteen stocks rose and five fell.
Shares of Tyson Foods rose 4.1 percent on double its average volume.
Murphy Oil gained 2.6 percent in light trading.
USA Truck dropped 3.1 percent in heavy trading and hit a 52-week low.
Windstream lost 2.8 percent in heavy volume.
Total volume for the index was 23.5 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 10/11/2016