Food Roundup: Tyson Resignation, Bug Extract Labeling, CKE Poison Pill and More

CEO exit sends Tyson stocks down — Tyson Foods Chief Executive Dick Bond stepped down unexpectedly Monday, effective immediately. The move surprised analysts and Tyson stock prices dropped at the news. [Source: Reuters]

FDA orders labeling for bug extracts — The Food and Drug Administration has ordered that products containing carmine and cochineal — two extracts from the cochineal bug — include these colorings by name on package ingredient lists. The Center for Science in the Public Interest has been pushing for this move since 1998, but now says the bug extracts should be banned altogether. [Source: CSPI]

CKE Restaurants Inc. adopts stockholders rights plan — The Carl’s Jr. and Hardee’s operator is giving current stockholders a distribution of rights to purchase preferred stocks, in an effort to ward off hostile takeovers. Stockholders can exercise these rights if someone acquires 15 percent of CKE’s common stock. [Source: AP]

Starbucks settles with NLRB — The coffee giant said it settled with the National Labor Relations Board over a complaint that lawyers may have illegally questioned employees. But similar cases against Starbucks are still pending. [Source: AP]