Food People: Tyson, Wal-Mart, Chipotle, O'Charley's

Bond's Exit from Tyson For several months, CEO Richard Bond steadfastly refused to cut poultry production even as investors and analysts pleaded with him to do so in the face of a massive oversupply.

It may have been too much for Tyson's lenders. A few days before the company announced Bond's departure, lenders agreed to renogotiate its debt. There's no proof that it was a quid pro quo, but it seems likely there was.

Bond pretended that there really was no oversupply problem, probably because he wanted to put the squeeze on competitor Pilgrim's Pride, which recently filed for bankruptcy protection, by helping to keep supply up and prices down.

Leland Tollet, former chairman and CEO, will serve as interim chief as the company seeks a replacement. [Source: The Big Money]

New Global Chief at Wal-Mart Wal-Mart has named Doug McMillon, president and CEO of the company's Sam's Club division, as CEO of its international unit.

Former international chief Mike Duke was picked as Wal-Mart's CEO in November, succeeding Lee Scott.

The international division is the fastest-growing part of Wal-Mart's business. The company is the world's largest retailer and the world's largest grocer. [Source: AP ]

Personnel Moves at Chipotle The fast-casual restaurant chain Chipotle Mexican Grille has promoted COO Monty Moran to co-CEO.

The chain also hired Mark Crumpacker as its first chief marketing officer. He comes from Sequence, a brand-consulting firm, where he developed Chipotle's brand identity in the early '90s. [Source: Wall Street Journal]

New Board Member at O'Charley's Philip Hickey Jr., former CEO of RARE Hospitality, has joined the board of O'Charley's, a casual restaurant chain.

Hickey was also a top executive at Innovative Restaurant Concepts and Rio Bravo International, which were later acquired by Applebee's International.

O'Charley's plans to cut its board from 12 to 10 members in May. [Source: Atlanta Business Chronicle]