Tyson Foods suspended CFO John R. Tyson on Thursday after he was arrested early this morning, the company shared in a statement.
Curt Calaway, who has been with the company for 18 years, was named interim CFO.
Tyson, 34, was arrested at 1:32 a.m. CST for allegedly driving while intoxicated, making an improper turn and U-Turn, and careless driving.
Per a court report obtained by Yahoo Finance, Tyson told a police officer that he had five to seven beers. His blood alcohol level was 0.191, more than twice of Arkansas’ legal limit of 0.08.
He’ll need to appear in court, per documents from the Washington County Sheriff’s Office.
He was released at 10:41 a.m. Thursday.
Tyson, who is the great-grandson of founder John Tyson, pleaded guilty to charges of criminal trespass and public intoxication last year after he was found sleeping in someone’s else home in late 2022, shortly after he became the company’s CFO.
On a call with investors following that incident, Tyson shared he was “embarrassed” and took “full responsibility.”
He then added, “I also want to apologize to our investors as I have to our employees. This was an incident inconsistent with our company values as well as my personal values. I just wanted you guys to hear this directly from me and to know that I’m committed to making sure this never happens again.”
Prior to holding the role of CFO, he served as Tyson’s chief sustainability officer.
Shares of Tyson Foods are slightly lower, down more than 1.5%, in Thursday afternoon trading.
“There is some justified concern among the investor community. At a certain point, the board is going to have to decide when enough is enough,” CFRA analyst Arun Sundaram told Yahoo Finance. John R. Tyson is the son of Tyson Foods chairman and former CEO John H. Tyson.
Calaway, who will take over immediately on an interim basis, most recently served as the CFO for Tyson Foods’ prepared foods division. He’s also responsible for the company’s merger and acquisitions and corporate development efforts, per a person familiar with the matter.
Prior to that, Calaway served as finance and treasurer senior vice president, as well as controller and chief accounting officer.
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Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at [email protected].
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Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
