close
close
hsuses

Tyson Food heir arrested again and suspended from CFO position

Theo

Top line

An heir to the Tyson Foods corporation and a $2.5 billion Tyson family fortune has been suspended from his post as the company’s chief financial officer after he was arrested for drunken driving early Thursday morning, several media outlets reported. It was the second arrest in as many years near the company’s Arkansas headquarters.

Key data

John R. Tyson, 34, was arrested early Thursday morning and charged with driving under the influence (driving with a blood alcohol content above the legal limit of .08), improper turning and reckless driving, local ABC affiliate KHBS first reported.

Tyson was held for nine hours and released on $1,105 bail, the Associated Press reported. His court date is scheduled for Friday.

He has been suspended from his post as chief financial officer of Tyson Foods, the company founded by his great-grandfather, the company said in a statement.

It was Tyson’s second arrest in Fayetteville, Arkansas, about 10 miles from Tyson’s headquarters in Springdale.

tangent

Tyson shares were down about 1.8% at $53.75 as of 3:15 p.m. EDT on Thursday.

Important background

John R. Tyson is the son of Tyson Foods chairman and former CEO John H. Tyson and the great-grandson of company founder John W. Tyson. In September 2022, he was promoted from his position as chief sustainability officer to CFO of Tyson Foods. Last fall, when he was 32, he was arrested after a college student found him sleeping in her home. Body camera footage of his arrest showed him appearing disoriented before police took him into custody. He was charged with trespassing and public intoxication and later apologized to shareholders in a phone call. “I am embarrassed, and I want you to know that I take full responsibility for my actions,” he told investors.

Forbes Rating

The Tyson family’s net worth is estimated at $2.5 billion, ranking them 1,332nd on Forbes’ list of billionaires. Tyson, known for his frozen meat products, also owns brands such as Hillshire Farms, Jimmy Dean and Aidells sausages.

Further information

KHBSJohn Tyson, CFO of Tyson Foods, was arrested on Thursday for drunk driving and reckless driving

Related Posts