John Tyson, the CFO of Tyson Foods, apologized to investors on Monday for his arrest earlier this month.

MONEY & BUSINESS: Tyson Foods exec apologizes to investors after drunken trespassing bust

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The Tyson Foods executive who was arrested for public intoxication and trespassing when he allegedly passed out drunk in the home of a woman he did not know apologized to investors during a company conference call on Monday.

“I’m embarrassed, and I want to let you know that I take full responsibility for my actions,” Tyson CFO John Tyson told investors on the quarterly call. His remarks were reported by CNBC.

“I just wanted you guys to hear this directly from me and to know that I’m committed to making sure this never happens again,” he said.

Tyson could be in hot water with the publicly traded company. CEO Donnie King told investors during the call that the company’s board has launched its own internal review of Tyson’s conduct.

“The company takes this matter seriously,” King said, according to the Financial Times.

John Tyson, the CFO of Tyson Foods, apologized to investors on Monday for his arrest earlier this month.
AP
Tyson, the CFO of Tyson Foods, was arrested for allegedly barging into the home of a stranger while intoxicated.
Tyson, the CFO of Tyson Foods, was arrested for allegedly barging into the home of a stranger while intoxicated.
Getty Images for Concordia Summi

“Our independent board of directors are overseeing a thorough review of this matter and I am confident in this independent process.”

The review will reportedly be handled by the board of director’s governance committee, which is comprised of members who are independent of the Tyson family.

Shares of Tyson Foods fell 3.8% to $64.83 on Monday.

Tyson, the 32-year-old son of company chairman John H. Tyson and the great-grandson of founder John W. Tyson, was arrested in the early morning hours of Nov. 6 after he was allegedly found intoxicated while asleep at the home of a stranger in Fayetteville, Ark.

A woman called police and told them she found “an unknown and unwelcome male sleeping insider her bedroom.”

Tyson is seen in the custody of Washington County (Ark.) Sheriff's deputies.
Tyson is seen in the custody of Washington County (Ark.) Sheriff’s deputies.
Washington County Sheriffââ¬â¢s Of

A police report cited by local television station KNWA/Fox 24 alleged that Tyson’s breath smelled of alcohol after he was found asleep in the bed of a woman at around 2 a.m.

Tyson was said to have been so drunk that he was unable to respond to verbal cues from the police.

The woman who lived at the home told investigators that the front door was left unlocked, enabling Tyson to enter the premises.

Tyson was arrested in Fayetteville, Ark. in the early morning hours of Nov. 6.
Tyson was arrested in Fayetteville, Ark. in the early morning hours of Nov. 6.
Washington County Sheriffââ¬â¢s Of

John Tyson joined Tyson Foods in 2019. Prior to working for the Springdale, Ark.-based company, he earned a living in investment banking, private equity and venture capital.

Tyson Foods reported a $538 million profit for the quarter ending in October, which is down from $1.4 billion during the same quarter last year.

Quarterly revenue jumped by around 7% to $13.7 billion. The company has had to contend with rising prices exacerbated by record levels of inflation.

Tyson was arrested in the same jurisdiction as Beyond Meat COO Doug Ramsey, who was booked by Washington County sheriff’s deputies in September after allegedly biting a man’s nose.

Beyond Meat suspended Ramsey before firing him.



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