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Tyson Foods Inc. named a new chief financial officer Thursday to replace his successor, John R. Tyson, who was suspended this summer after being arrested for drunk driving.
The meat giant appointed an interim CFO on Thursday. Kurt Calaway Tyson will remain with the company but is currently on medical leave.
Tyson, the great-grandson of the company’s founder, served on the board for nearly two years. Paused He resigned in June after being arrested in a second alcohol-related incident during his tenure as CFO.
In July, Tyson pleaded not guilty to multiple charges, including drunk driving and careless driving. Arkansas Democrat-Gazette The newspaper reported.
Calaway has been with Tyson Foods since 2006 and has held a variety of financial leadership roles throughout his career. He served as CFO of Tyson’s prepared foods business, where he oversaw M&A and corporate development efforts.
“Kurt is a proven leader with deep industry knowledge and extensive experience in financial strategy and reporting,” Tyson President and CEO Donnie King said in a statement. “I am confident that Kurt will continue to contribute to our operational excellence and increased shareholder value.”
The Springdale, Arkansas-based company reported strong profits in its most recent quarter. “Astonishing turnaround“Our chicken and pork businesses are performing well due to operational efficiencies and lower feed costs,” King said during an investor call in August.
Adjusted operating profit rose 174% year over year to $491 million in the third quarter after the company closed nine processing plants. The earnings report showed Tyson is bullish about its profits for the rest of the year.
