Tyson Foods, a leading American food company, has named Curt Calaway as its new chief financial officer following the suspension of John R. Tyson. Calaway, who has been with the company since 2006, has been serving as interim CFO and was the CFO for Tyson Foods’ prepared foods business unit. His annual base salary has been increased to $675,000 with a target annual incentive plan award of 110% of base salary.
John R. Tyson was suspended in June after being arrested in Arkansas for intoxicated and careless driving. This was the second time in under two years that he faced legal issues. He remains with the company but is currently on health-related leave. Tyson’s father, John H. Tyson, chairs the board, and the family holds a majority of the company’s stock.
In addition to the recent arrest, John R. Tyson was previously arrested for criminal trespassing and public intoxication in Fayetteville, Arkansas, in November 2022. A college-aged female found him asleep in her bed, prompting the incident. Despite these legal issues, Tyson Foods is moving forward with a new CFO at the helm.
This change in leadership comes as Tyson Foods navigates through challenges and continues to be a key player in the food industry. The company has expressed confidence in Curt Calaway’s ability to lead the finance operations effectively. The appointment of Calaway as CFO marks a new chapter for Tyson Foods as it works towards maintaining its position in the market.
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