Tyson Foods CFO Arrested for DWI, Suspended From Company

The Tyson Foods CFO has been arrested for the second time in two years, prompting the meat giant to suspend his employment from the company.

CNBC reports that John R. Tyson, the great-grandson of the company’s founder John W. Tyson, was arrested under suspicion of driving while intoxicated (DWI) in Arkansas on Thursday, June 13. The Associated Press shared more details about Tyson’s arrest, claiming that he was pulled over by the University of Arkansas police after making an illegal turn, and he failed a field sobriety test.

This is the scion’s second arrest in just as many years. In 2022, shortly after he was appointed the CFO of the company, Tyson was arrested after he got drunk and fell asleep in the wrong house. He pleaded guilty to the charges and apologized to the company in an earnings call one week later.

After being arrested on Thursday, Tyson subsequently paid a $1,105 fine to be released and is expected to appear in court to answer to the charges on July 15.

Though he was released nine hours after his arrest, Tyson Foods said it appointed Curt Calaway as its interim CFO. Calaway, who is not related to the Tyson family, has a nearly 20-year history with the company, having previously served as treasurer and senior vice president of finance and corporate development.

In a statement to the Associated Press, Tyson Foods confirmed Tyson’s immediate suspension following his arrest.

John R. Tyson joined Tyson Foods in 2019 following a career on Wall Street. His father, John H. Tyson, is the company’s sitting chairman.

The nepotism baby’s issues are just the latest issues that the company has had to face. Last month, it was revealed that customers’ preference for necessities over frivolous expenditure has impacted the company’s profitability, which is primarily derived from branded and ready-to-eat products.

Melanie Boulden, who is in charge of Tyson’s prepared foods division, emphasized that consumers, particularly those from lower-income households, are becoming more frugal with their spending due to high rates of inflation and low savings. Profits have decreased as a result of this conservative strategy, and a poorer performance in the second half of the fiscal year than in the first is anticipated.

While Tyson’s prepared foods division has been a significant source of operational profits, the company’s largest business, the beef division, has seen difficulties. Despite these setbacks, Tyson increased its projected profit for the upcoming fiscal year, primarily as a result of improvements in its hog and chicken divisions’ margins.