Tyson’s chief technology officer exits the company
According to a filing with the U.S. Securities and Exchange Commission, Scott Spradley, chief technology officer at Tyson Foods, left the company on Monday (Jan. 9). No information was provided on his sudden departure. Spradley was hired in June 2017.
Tyson said the company’s information technology employees will assume Spradley’s responsibilities. There are no immediate plans to fill the position.
The company also said it plans to enter into a separation agreement and a release agreement. His signing of the agreements will allow him to receive payments from the executive severance plan equal to $1.4 million, equivalent to 2 times his annual base salary.
The benefit would be paid out in installments over 24 months immediately following the departure, subject to a 6-month waiting period. He is entitled to an additional lump sum payment of $211,538, payable in July 2023, equivalent to his prorated annual incentive payment under the company’s annual incentive compensation plan for senior officers.