Tyson CFO arrested after allegedly falling asleep in wrong home

Tyson Foods chief financial officer John Tyson faces charges of public intoxication and criminal trespassing after his arrest in Arkansas early Sunday, a month after he was appointed to his job at the second-largest meat producer in the world.

Tyson, 32, was booked and released later that day, according at Washington County, Arkansas, Sheriff’s Department.

Tyson was found asleep Sunday morning in a woman’s bed at her Fayetteville residence, KNWA Fox 24 reported. The woman did not know who Tyson was and called the police, the precinct. reported. The woman told dispatchers she believed the front door was left unlocked.

Photograph of John Tyson while booked in Washington County, Arkansas on November 6, 2022, charged with public intoxication and criminal trespass.

Washington County, Arkansas, Sheriff’s Office

“We are aware of the incident and as this is a personal matter, we have no further comment,” a spokesperson for Tyson told CBS MoneyWatch in an email.

A fourth-generation member of the family that controls the $24 billion meat-processing business, Tyson was named chief financial officer in September and took office on October 2. He is the son of Tyson Chairman John H. Tyson and joined the company in 2019.

The company is program to release fourth-quarter results on Monday, its first earnings report with Tyson as chief financial officer.

As CFO, Tyson receives a base salary of $650,000, along with “an increase in his target annual incentive payout under the company’s annual incentive compensation plan for senior executives from 90% to 110% of his annual base salary, the actual annual incentive payment payable based on performance against certain pre-established company-wide measures,” according to a settlement deposit by the company on September 27.

Tyson, who was released on $415 bond, is due in court Dec. 1.

Based in Springdale, Arkansas, Tyson Foods produces approximately 20% of the chicken, beef and pork consumed in the United States. Its revenue was $47 billion in fiscal 2021.

The incident marks the second recent arrest of a food industry executive, as Beyond Meat suspended its chief operating officer in September after he would have bitten a man’s nose in Fayetteville, Arkansas. Doug Ramsey left Beyond Meat on Oct. 14, the company said in a regulatory filing. Prior to joining Beyond Meat, Ramsey worked at Tyson for 30 years, according to his Linkedin biography.

— The Associated Press contributed to this report.

Leave a Comment

Your email address will not be published. Required fields are marked *