Tyson Foods Inc. on Thursday named in-house executive Kurt Calaway as its chief financial officer, replacing John R. Tyson, who was suspended in June after being arrested and charged by police in Arkansas with drunk driving and careless driving.
Calaway has been with the company since 2006 and most recently served as interim CFO, and also served as CFO of Tyson Foods' prepared foods division.
Tyson Foods said it has increased Calaway's annual base salary to $675,000 and raised his annual incentive plan target to 110 percent of his base salary.
Tyson Foods said John R. Tyson remains employed by the company but is currently on medical leave, the second arrest in less than two years after the June arrest of the great-grandson of company founder John W. Tyson.
John R. Tyson's father, John H. Tyson, serves as chairman of the board of directors, and the family holds the majority stake in the company.
The same year he became CFO, in November 2022, he was arrested in Fayetteville, Arkansas, on charges of trespassing and public intoxication.
According to a 2022 Fayetteville police report, a college-age woman was surprised when she returned home to find Tyson, a man she didn't know, asleep in her bed.
