Tyson Foods CFO Pleads Not Guilty On Driving While Intoxicated Charges: WSJ

Tyson Foods Inc TSN chief financial officer John R. Tyson, who was suspended after his June arrest on charges including driving while intoxicated and careless driving, had pleaded not guilty on Monday.

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.

Tyson's not-guilty plea allowed 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. 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, WSJ reports.

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.

Also Read: Tyson Foods Divests Georgia Plant In Profitability Push

Tyson has been the CFO since October 2022, becoming the youngest CFO of a Fortune 500 company at the time of his appointment.

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, the largest U.S. meat processor by sales.

Price Action: TSN shares are trading higher by 1.98% at $58.61 at last check Tuesday.

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