Tyson Foods CFO arrested and suspended from company

John R. Tyson has been suspended from his position as chief financial officer of Tyson Foods because the 34-year-old got into new legal trouble following an arrest on Thursday morning.

“We are aware that John Randall Tyson, chief financial officer of Tyson Foods, was arrested for alleged drunken driving,” Tyson Foods, founded by his great-grandfather, said in a statement. “Tyson Foods has suspended Mr. Tyson from his duties effective immediately and appointed Curt Calaway as interim chief financial officer.”

Tyson’s arrest and booking on suspicion of driving while under the influence (DWI) and two other charges occurred Thursday morning in Arkansas, according to Washington County Detention Center records.

CLICK HERE TO READ MORE ON FOX BUSINESS

They also stated that authorities released him at 10:41 a.m. local time.

John R. Tyson, EVP, Strategy and Chief Sustainability Officer, Tyson Foods, speaks onstage during the Battle for Food: Value Chains and Partnerships at the 2022 Concordia Annual Summit at the Sheraton New York in New York City on September 21, 2022. (Leigh Vogel/Getty Images for Concordia Summit / Getty Images)

According to Washington County Detention Center records, Tyson was assigned a court date of Friday for a hearing related to his Thursday arrest. The hearing will be conducted in Fayetteville District Court.

Early last year, Tyson pleaded guilty to public intoxication and trespassing in connection with an incident on November 6, 2022, in which he was found sleeping in a stranger’s home.

“I am embarrassed and want you to know that I take full responsibility for my actions,” he told investors and analysts during a conference call shortly after that separate incident. “This incident is contrary to the values ​​of our company and also my personal values.”

TYSON CFO PLEADS GUILTY TO PUBLIC DRUNKNESS AND HOUSEHOLD ENTERING

Tyson Foods last released its quarterly results in early May. Tyson participated in the quarterly results conference call along with CEO Donnie King and other executives.

A Tyson Foods Inc. sign is seen on the trading floor of the New York Stock Exchange in New York on November 21, 2016. (Michael Nagle/Bloomberg via Getty Images / Getty Images)

The company generated revenue of $13.02 billion and net income of $145 million in the second quarter.

Its market capitalization was around $19.15 billion on Thursday afternoon.

GET FOX BUSINESS ON THE GO BY CLICKING HERE