Tyson Foods CFO John R. Tyson Pleads Not Guilty to DUI Charges

16 July, 2024 | 2 Min Read

tickers: TSN

tickers affected by this

ticker	polarity	why?
TSN	negatively	If the article in question suggests negative impacts on Tyson Foods, Inc. (TSN), it could be due to factors such as market volatility, unexpected financial results, or operational challenges. For instance, if there’s a report of supply chain disruptions or increased production costs, it could lead to a decrease in TSN’s stock value. Additionally, any negative publicity or regulatory issues could also adversely affect investor sentiment towards TSN.

our strategies and bots using these tickers

None so far…

summary

Tyson Foods CFO Pleads Not Guilty to DWI Charges

John R. Tyson, the chief financial officer of Tyson Foods Inc, pleaded not guilty to charges of driving while intoxicated and careless driving on Monday, according to a report by the Wall Street Journal.

Tyson, who is the son of the company’s chairman and the great-grandson of the meat giant’s founder, was arrested on June 13 by University of Arkansas police and booked at the Washington County Detention Center.

A Not-Guilty Plea

Tyson’s not-guilty plea allows him more time to negotiate a settlement with prosecutors, as reported by the Wall Street Journal. His trial is scheduled for August 28 in Fayetteville District Court.

A Previous Incident

This arrest follows a previous incident in November 2022, where Tyson was found asleep in a stranger’s bed near the University of Arkansas. He initially pleaded not guilty but later changed his plea to guilty and paid a $440 fine, the WSJ reports.

Tyson’s Role at Tyson Foods

Tyson Foods’ board of directors reviewed Tyson’s November 2022 arrest and expressed confidence in his role as CFO. However, following his recent suspension, Curt Calaway, a longtime company finance executive, is serving as interim CFO. Tyson has been the CFO since October 2022, becoming the youngest CFO of a Fortune 500 company at the time of his appointment.

Details of the Arrest

The June arrest occurred when University of Arkansas police observed Tyson’s SUV exceeding the speed limit, striking a curb, and making an improper turn. Authorities reported that Tyson smelled of intoxicants, and his blood alcohol level tested at 0.191, more than twice the legal limit of 0.08, the WSJ writes. Tyson Foods is the largest U.S. meat processor by sales.