The US-based firm said that Noel White, formerly the Group President, Beef, Pork and International, will become its new chief executive.
White has worked for Tyson Foods since 2001 when it acquired beef and pork producer IBP.
He has served in various leadership roles throughout his career at Tyson Foods, including as chief operations officer.
Mr White said: “I am honoured to serve as Tyson Foods’ next CEO, and I am excited by the many opportunities that lie ahead.
"It has been a privilege to contribute to this company’s evolution over the course of many years and to be a part of its becoming one of the world’s largest food companies.
"I look forward to accelerating the current trajectory of growth as a global modern food company through our operational excellence, innovative thinking and focus to sustainably feed the world."
White replaces Hayes, who’s been CEO at the leading meat processing firm since 2016.
In a statement, John Tyson, chairman of the board of directors, and grandson of founder John W. Tyson, said: “Noel is a proven leader who has played an integral role in our enterprise leadership team for many years.
“He has run our beef, pork, and poultry businesses and is now helping Tyson Foods capitalize on international opportunities.”
"His deep institutional knowledge and a stellar track record over his more than 30-year career at Tyson Foods and a predecessor company give the board the utmost confidence in his ability to drive the business forward, accelerate global growth and create long-term value for shareholders.”