Curt Calaway is the new chief financial officer (CFO) of Tyson Foods, effective August 29.
Calaway, a Tyson Foods employee since 2006, has been serving as the CFO of Tyson Foods on an interim basis since June, when then-CFO John R. Tyson was put on suspension.
As CFO, Calaway will report directly to Donnie King, Tyson Foods president and CEO.
Calaway has nearly 30 years of experience in finance, audit and accounting. Prior to being named interim CFO, Calaway served as the CFO for Tyson Foods’ Prepared Foods Business Unit and was also responsible for the company’s Mergers & Acquisitions (M&A) and corporate development efforts. Calaway served as Senior Vice President of Finance and Treasurer, where he led Investor Relations, Treasury, Corporate Finance, Corporate Financial Planning & Accounting, M&A, Corporate Development, and Supply Chain Finance. Calaway has held various leadership roles with the company during his 18-year tenure, including Controller, Chief Accounting Officer and Vice President of Audit and Compliance.
“Curt is a proven leader with deep industry knowledge and a wealth of experience in financial strategy and reporting,” said King. “I am confident Curt will continue to help drive our operational excellence and shareholder value.”
John R. Tyson remains with the company
While Tyson is no longer the CFO of the company, he does remain employed there, Tyson Foods said in a press release. The release did not reveal n what capacity he remained, but on the leadership page on the Tyson Foods website, which has been updated to include Calaway's new position, Tyson is listed as an executive vice president.
The former CFO presently is on “health-related leave,” the press release stated.
Tyson’s suspension followed a June 13 incident in which he was arrested on suspicion of driving while intoxicated, careless driving and improperly making a U-turn. The arrest was made in Fayetteville, Arkansas.
He has since pleaded not guilty to those charges.
That was not the first time Tyson had been arrested on alcohol-related charges.
On November 6, 2022, he was arrested, also in Fayetteville, after he had fallen asleep in the bed at the residence of a person he did not know. Eight days later, during a quarterly earnings call and subsequent media call, he said he was taking “full responsibility for his actions.”
Also on that media call, Tyson was asked about reports that he would seek alcohol counseling, but he declined to answer that question.
Tyson Foods launched an independent review of the alleged 2022 events, and about one month after his arrest, the company stated that it had “continued confidence” in its CFO.
Tyson eventually pleaded guilty to public intoxication and criminal trespass.
Tyson, the son of Tyson Foods Chairman John H. Tyson and great-grandson of company founder John W. Tyson, was named CFO of Tyson Foods in September 2022. Prior to becoming CFO, Tyson spent about three years as the company’s chief sustainability officer.
