Tyson Foods CFO suspended for drunk driving, 2 years after sleeping in the wrong house: ‘This could be the end’

According to police records, John R. Tyson was arrested around 1:30 a.m. on Thursday. Tyson posted bail and was released nine hours later after being charged with drunken driving, reckless driving and making an improper turn. The charges mark the Tyson offspring’s second known run-in with the law. Just months after being named CFO in 2022, Tyson was found sleeping in a stranger’s bed at her Fayetteville, Arkansas, home. Police said the resident did not know Tyson. The CFO was arrested for public intoxication and trespassing after the incident; he later apologized to staff in an email and said he would undergo therapy for his drinking.

Tyson is the son of CEO John H. Tyson and the great-grandson of the company’s founder, making him a fourth-generation member of the Tyson family. His aunt Barbara Tyson is a board member.

A statement on the company’s website on Thursday said the company was “aware” of Tyson’s arrest for alleged drunken driving and had suspended him effective immediately. In his place, Tyson appointed Curt Calaway as interim chief financial officer. Tyson himself called his past behavior embarrassing and told employees the mistake was serious and caused him to “think about the impact my actions can have on others.”

“This could be the end for Mr. Tyson,” warned Jason Schloetzer, an assistant professor at Georgetown University and an expert in corporate governance. It would be prudent to extend Tyson’s leave for a longer period, and if he returns to the company, he could do so in a less prominent role, Schloetzer said. Assets.

“Large companies tend to look for market-oriented leaders who bring stability and trust to the company,” he said. “This second incident, if true, has the potential to significantly damage that trust.”

Tyson Foods, whose brands include Jimmy Dean, Hillshire Farm and Ball Park, was founded in 1935 by John W. Tyson and is traditionally family-run. Its motto is “We feed the world like family.” The company is headquartered in Springdale, Arkansas, and employs 139,000 people. According to company filings, John R. Tyson earned compensation worth $2.9 million in 2023.

Executives of large publicly traded companies like Tyson rarely make headlines when they are arrested, let alone charged twice in two years. Another Arkansas executive, Douglas Ramsey of vegan giant Beyond Meat, was arrested in 2022 for allegedly biting a man on the nose after a football game in Fayetteville. Ramsey previously worked at Tyson Foods for 30 years before joining Beyond Meat. He retired in October after his September 2022 arrest.

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