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, which came a month after he was appointed to his position at the world's second-biggest meat producer.
The 32-year-old Tyson was booked and released later in the day, according to the Washington County, Arkansas, sheriff's department.
Tyson was found asleep Sunday morning in a woman's bed in her residence in Fayetteville, reported KNWA Fox 24. The woman did not know who Tyson was and called the police, the station reported. The woman told dispatchers she thought the front door had been left unlocked.
"We're aware of the incident and as this is a personal matter, we have no additional comment," a spokesperson for Tyson told CBS MoneyWatch in an email.
John Tyson on Monday apologized in a company-wide memo and said he is getting counseling for alcohol abuse, according to the Associated Press.
"I am embarrassed for personal conduct that is inconsistent with my personal values, the company's values and the high expectations we hold for each other here at Tyson Foods," he wrote. "I made a serious mistake and this has caused me to reflect deeply on the impact my actions can have on others."
A fourth-generation member of the family that controls the $24 billion meat-processing company, Tyson was named CFO in September and started in the role 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 company's 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-established company-wide measures," according to a regulatory filing by the company on September 27.
Tyson, who was released on a $415 bond, is scheduled to appear in court on Dec. 1.
Headquartered in Springdale, Arkansas, Tyson Foods churns out about 20% of the chicken, beef and pork consumed in the U.S. It reported $47 billion in sales in fiscal 2021.
The incident marks the second recent arrest of a food industry executive, as Beyond Meat suspended its COO in September after he allegedly bit a man's nose in Fayetteville, Arkansas. Doug Ramsey left Beyond Meat as of October 14, the company said in a regulatory filing. Before joining Beyond Meat, Ramsey worked at Tyson for 30 years, according to his Linkedin bio.
—The Associated Press contributed to this report.