Tyson Foods suspends CFO after drunk driving

Tyson Foods (TSN) has suspended its CFO John R. Tyson after the 34-year-old executive was arrested in Arkansas for drunken driving. This incident is Tyson’s second drunkenness-related offense during his tenure as the company’s CFO.

Brooke DiPalma of Yahoo Finance explains the details.

Click here to watch the full episode of Market Domination for more expert insights and information on current market events.

This article was written by Angel Smith

Video transcript

Tyson Foods is now announcing that CFO John Tyson is being suspended after being arrested for drunk driving in Arkansas. You can find all the details here on Yahoo Finance, its own Brook to Palmer Brook.

Yes, good day to you both. CFO John Tyson made headlines again this morning after the 34-year-old was arrested at 1 a.m. this morning for alleged drunk driving, improper turning and careless driving.

And now the, uh, you know, suspended CFO has to appear in court.

He was released today around 11am.

And while Tyson Foods said in a statement that they had suspended him, this is John Tyson’s second arrest in 2022, right after he was named CFO. He was arrested for trespassing and public intoxication after being found at a stranger’s home.

He then apologized to the investors and pleaded guilty to the charges.

Now Tyson Foods has appointed Kurt Calloway as interim CFO.

Meanwhile, Calloway most recently served as CFO for Tyson Foods’ prepared foods division, and a person familiar with the matter told Yahoo Finance that Calloway was responsible for the company’s acquisitions and corporate development.

But one analyst I spoke to said there is some legitimate concern in the investment community.

And at some point the board has to decide when enough is enough.

And now, in after-hours trading, the stock is roughly unchanged, but closed down 1.5%.

Yes.

And the five-year chart we show also shows some declines.

Thanks, Brooke.

Am grateful.