01—Abstract
Summary
Summary of the 8-K filed June 13, 2024. Cited figures are marked; the original filing is the authoritative source.
Tyson Foods, Inc. filed this Form 8-K on June 13, 2024 to report that John R.
Tyson, the Company's Executive Vice President and Chief Financial Officer, has been suspended from his duties effective immediately. The Company's statement, furnished as Exhibit 99.1, says Tyson was arrested for an alleged DWI and that the Company has named Curt Calaway as interim Chief Financial Officer. Curt Calaway, age 50, most recently served as Chief Financial Officer for the Company's Prepared Foods business segment, with responsibilities over M&A and corporate development.
Before that, he was Senior Vice President of Finance and Treasurer, a role he took in April 2021, where he led Investor Relations, Treasury, Corporate Finance, Corporate FP&A, M&A and Corporate Development, Risk Finance, and Supply Chain Finance. He has been with the Company for 18 years, including as Controller, Chief Accounting Officer, and Vice President of Audit and Compliance. The filing states there are no arrangements or understandings under which he was selected, no family relationships with directors or executive officers, and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.
The filing does not report any financial results, compensatory terms for the interim appointment, or a timeline for a permanent CFO. Investors would look to subsequent company disclosures for those details.
02—Key points
Key Highlights
- John R. Tyson, EVP and Chief Financial Officer, was suspended from his duties effective June 13, 2024, following an alleged DWI arrest.
- Curt Calaway, age 50, was named interim Chief Financial Officer.
- Calaway most recently served as CFO of the Prepared Foods segment and held M&A and corporate development responsibilities.
- Prior to that, Calaway was Senior Vice President of Finance and Treasurer, appointed in April 2021, overseeing Investor Relations, Treasury, Corporate Finance, FP&A, and Risk and Supply Chain Finance.
- Calaway has 18 years of tenure with the Company, including roles as Controller, Chief Accounting Officer, and Vice President of Audit and Compliance.
- The filing discloses no compensation arrangements for the interim appointment and no related-party transactions for Calaway.
- The company's statement is furnished under Item 7.01 as Exhibit 99.1 and is not deemed filed for Section 18 purposes.
03—Questions
Frequently Asked Questions
Why was the Chief Financial Officer suspended?
According to the Company's statement in Exhibit 99.1, John Randal Tyson was arrested for an alleged DWI. The Company suspended him from his duties effective immediately.
Who is running the finance function on an interim basis?
Curt Calaway has been named interim Chief Financial Officer. He previously served as CFO of the Prepared Foods segment and as Senior Vice President of Finance and Treasurer.
What is Curt Calaway's background?
Calaway, age 50, has spent 18 years with Tyson Foods in leadership roles including Controller, Chief Accounting Officer, and Vice President of Audit and Compliance. His most recent roles included Prepared Foods segment CFO and oversight of M&A and corporate development.
Does the filing reveal any conflicts or related-party issues involving the interim CFO?
The filing states that Calaway has no family relationships with any directors or executive officers, is not party to any transaction requiring disclosure under Item 404(a) of Regulation S-K, and was not selected under any arrangement or understanding with other persons.
Does this filing include financial results or guidance changes?
No. The filing covers only the officer suspension, the interim appointment, and the Exhibit 99.1 statement. It does not report financial results, outlook, or changes to guidance.
04—Continue