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Tyson Foods, one of the world’s largest meat companies, has suspended its chief financial officer after he was arrested for drunk driving for the second time in less than two years.
John R. Tyson, the son of CEO John H. Tyson and great-grandson of the company’s founder, was arrested early Thursday morning in Tyson Foods’ home state of Arkansas on a drunken driving charge, police records show. He was released nine hours later on $1,105 bail.
The 34-year-old was promoted to CFO in September 2022. Weeks later, he was arrested for public intoxication and trespassing after a woman found him sleeping in her bed. He apologized and later pleaded guilty to two misdemeanors.
Tyson Foods, based in Springdale, Arkansas, is the largest meat processor in the United States. The company operates hundreds of chicken, pork and beef processing plants and employs more than 130,000 people. The company, which is behind the Jimmy Dean and Hillshire Farm brands, had sales of $53 billion in the last fiscal year.
Although the company is publicly traded, it is controlled by the Tyson family through shares with multiple voting rights.
Tyson Foods shares closed 1.6 percent lower at $53.86 on Thursday.
Tyson Foods announced that Curt Calaway will temporarily assume the role of CFO following the suspension of John R. Tyson. He has worked for the company for 18 years and was most recently CFO of the company’s prepared foods segment.
John R. Tyson previously served as Chief Sustainability Officer after joining the company in 2019. In fiscal year 2023, he received total compensation of $2.9 million, including a base salary of $650,000 and approximately $2 million in stock and option awards, according to a securities filing.