Tyson Foods CFO arrested, receives suspension from company
Tyson Foods said Curt Calaway would become interim CFO
John R. Tyson has been suspended from his position as Tyson Foods’ chief financial officer amid new legal troubles for the 34-year-old arising out of a Thursday morning arrest.
"We are aware that John Randall Tyson, Chief Financial Officer of Tyson Foods, was arrested for an alleged DWI," Tyson Foods, which was founded by his great-grandfather, said in a statement. "Tyson foods has suspended Mr. Tyson from his duties effective immediately and named Curt Calaway as interim Chief Financial Officer."
Tyson’s arrest and booking for allegedly driving while intoxicated (DWI) and two other charges occurred in Arkansas on Thursday morning, Washington County Detention Center records showed.
CLICK HERE TO READ MORE ON FOX BUSINESS
They also indicated that authorities let him go at 10:41 a.m. local time.
John R. Tyson, EVP, Strategy and Chief Sustainability Officer, Tyson Foods, speaks on stage during The Fight for Food: Value Chains and Partnerships at The 2022 Concordia Annual Summit at Sheraton New York in New York City on Sept. 21, 2022. (Leigh Vogel/Getty Images for Concordia Summit / Getty Images)
Tyson received a Friday court date for a hearing related to his Thursday arrest, according to the Washington County Detention Center records. The Fayetteville District Court is conducting it.
Early last year, Tyson pleaded guilty to counts of public intoxication and criminal trespass in connection with a Nov. 6, 2022, incident in which he was found sleeping in a stranger’s house.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSN | TYSON FOODS INC. | 64.34 | -0.16 | -0.25% |
"I’m embarrassed, and I want to let you know that I take full responsibility for my action," he told investors and analysts during an earnings call held not long after that separate incident. "This was an incident inconsistent with our company values, as well as my personal values."
TYSON CFO PLEADS GUILTY TO PUBLIC INTOXICATION AND CRIMINAL TRESPASS
Tyson Foods most recently released quarterly results in early May, with Tyson participating in the earnings call along with CEO Donnie King and other executives.
Tyson Foods Inc. signage is seen on the floor of the New York Stock Exchange in New York on Nov. 21, 2016. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
The company generated $13.02 billion in sales and net income of $145 million in the second quarter.
Its market capitalization hovered around $19.15 billion as of Thursday afternoon.
GET FOX BUSINESS ON THE GO BY CLICKING HERE