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Tyson Foods suspends CFO following drunk driving incident

Josh Lipton and Julie Hyman

Tyson Foods (TSN) has suspended its CFO, John R. Tyson, after the 34-year-old executive was arrested for driving while intoxicated in Arkansas. This incident is Tyson's second offense related to intoxication during his tenure as the company's CFO.

Yahoo Finance's Brooke DiPalma breaks down the details.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Angel Smith

Video transcript

Tyson Foods now say that it is suspending CFO John Tyson after being arrested for driving while intoxicated in Arkansas here with all the details is Yahoo Finance his own Brook to Palmer Brook.

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Yeah, good afternoon to you both CFO John Tyson back in the headlines this morning after the 34 year old was arrested at one o'clock this morning for allegedly driving while intoxicated as well as improper turn careless driving.

And now the uh you know, suspended CFO will have to appear in court.

He was released around 11 a.m. today.

And in a statement and Tyson Foods did say that they had suspended him, but this is now the second arrest for John Tyson back in 2022 right after he was named CFO, he was arrested for criminal trespass and public intoxication after he was found in a stranger's home.

He apologized to investors following that and did plead guilty to those charges.

Now, Tyson Foods did name Kurt Calloway interim CFO.

In the meantime, Calloway did most recently serve as a CFO for Tyson Foods Prepared Foods Division and a person familiar with the matter did tell Yahoo Finance that Calloway was responsible for the company's me and acquisitions as well as corporate development efforts.

But one analyst that I did speak to said that there is some justified concern among the investor community.

And at a certain point, the board is going to have to decide when enough is enough.

And now in after hours trading the stock roughly flat, but it did close down 1.5%.

Yeah.

And the five year chart that we're showing shows some declines as well.

Thank you, Brooke.

Appreciate it.