Tyson Foods on Thursday named insider Curt Calaway as its chief financial officer succeeding John R. Tyson, who was suspended in June after police in Arkansas arrested and charged him for intoxicated and careless driving.
Calaway has been with the company since 2006 and was most recently serving as interim CFO. He was also the CFO for Tyson Foods’ prepared foods business unit.
Tyson Foods said it has increased Calaway’s annual base salary to $675,000 and boosted his target annual incentive plan award to 110% of base salary.
Tyson Foods said John R. Tyson remains with the company but is currently on health-related leave. It was the second time in under two years that the great-grandson of the company’s founder, John W. Tyson, was arrested in June.
John R. Tyson’s father, John H. Tyson, chairs the board and the family holds a majority of the company’s stock.
He was previously arrested for criminal trespassing and public intoxication in Fayetteville, Arkansas, in November 2022, the same year he became CFO.
A college-aged female was alarmed to have found Tyson, who she did not know, asleep in her bed upon returning home, according to the Fayetteville police report in 2022.
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