Tyson CFO arrested after allegedly falling asleep in wrong home
Tyson Foods CFO John Tyson is facing charges of public intoxication and trespassing after his arrest in Arkansas early Sunday, a month after he was appointed to the job at the world’s second-largest meat producer.
Tyson, 32, was booked and released later in the day. according to to the Washington County, Arkansas, Sheriff’s Department.
Tyson was found asleep Sunday morning in the woman’s bed at her Fayetteville residence, KNWA Fox 24 reported. The woman did not know who Tyson was and called police, the station registered. The woman told dispatchers she thought the front door had been left unlocked.
“We are aware of the incident and since this is a personal matter, we have no further comment,” a Tyson spokesperson told CBS MoneyWatch in an email.
A member of the fourth generation of the family that controls the $24 billion meat processing company, Tyson was named chief financial officer in September, a role he began on October 2. He is the son of Tyson Chairman John H. Tyson and joined the company in 2019.
The company is scheduled to release fourth-quarter results on Monday, its first earnings report with Tyson as CFO.
As CFO, Tyson receives a base salary of $650,000 as well as “an increase in his target annual incentive payment under the annual incentive compensation plan for senior executives from 90% to 110% of his annual base salary, with the actual annual incentive payment payable based on performance against certain pre-determined company-wide measures,” the regulatory regulation states submission by the company on September 27.
Tyson, who was released on $415 bail, is scheduled to appear in court on Dec. 1.
Headquartered in Springdale, Arkansas, Tyson Foods produces about 20% of the chicken, beef and pork consumed in the US. It reported sales of $47 billion in fiscal 2021.
The incident marks the second recent arrest of a food industry executive, as Beyond Meat suspended its chief executive in September after Linkedin bio.in Fayetteville, Arkansas. Doug Ramsey left Beyond Meat on Oct. 14, the company said in a regulatory filing. Before joining Beyond Meat, Ramsey worked at Tyson for 30 years, he said
—The Associated Press contributed to this report.
#Tyson #CFO #arrested #allegedly #falling #asleep #wrong #home