Tyson Foods’ top 5 execs earn combined $36.5 million in 2023

Springdale-based Tyson Foods posted a net loss of $649 million for fiscal year 2023. As a result, top executives received smaller performance cash bonuses, but stock awards were considerably higher for CEO Donnie King and lower for board chairman John H. Tyson.

The other top three executives were hired for their positions in 2023, so no prior income information was available in the Dec. 21 proxy filing with the U.S. Securities and Exchange Commission.

Chairman Tyson earned a base salary of $1.212 million and a performance bonus of $315,000. Stock and option awards totaled $5.959 million. His total compensation was valued at $8.827 million, down from $12.033 million the prior year. Tyson, 70, will stand for re-election to the board on which he has served since 1984.

King has been CEO of Tyson Foods since June 2021. He earned a base salary of $1.396 million last year, which included a 7.71% annual pay raise. His performance bonus of $436,154 was down 87% from a year ago as the company struggled to turn a profit. His deferred compensation of stock and option awards totaled $10.943 million, up 61.5% from fiscal 2022. When adding in other compensation relating to personal travel and various benefits, his total compensation was valued at $13.18 million, up 9.7% from the prior year.

The three remaining top-earning executives were new to their role in 2023 and their income varied accordingly. Melanie Boulden was named chief growth officer and president of prepared foods in February. Boulden received a sign-on bonus of $800,000 and her base salary for 2023 totaled $432,846. She received stock awards totaling $4.302 million and a cash performance bonus of $108,016, when factoring in other compensation her total pay for fiscal 2023 was $5.948 million.

Brady Stewart was new to his role as group president for beef and pork and chief supply chain officer in fiscal 2023. Stewart received a $1.5 million sign-on bonus and earned a base salary of $568,384 for his inaugural year. His performance bonus totaled $155,934 and his stock awards were valued at $3.32 million. Adding his executive benefits such as contributions to executive savings plans, his total compensation for fiscal 2023 was $5.679 million.

John R. Tyson, chief financial officer for the company and great-grandson of the founder, became CFO in early 2023. He previously was chief sustainability officer beginning in 2019. Tyson’s base salary totaled $662,000. His cash performance bonus totaled $125,125. He received stock and option awards totaling $1.989 million. His other compensation was $110,495 which included roughly $5,300 for health services. His total compensation was $2.887 million in fiscal 2023.

Also in the proxy filing, Tyson Foods announced its annual shareholder meeting for 10 a.m., Feb. 8, in Springdale. Shareholders will elect a slate of 13 directors for a one-year term. Shareholders will also vote on proposals regarding climate lobbying practices, labor practices, deforestation-free supply chains and eco-friendly packaging, none of which the board of directors supports, according to statements made in the proxy.

Following is the proposed slate of directors.
John H. Tyson, 70
Les Baledge, 66
former Arkansas Gov. Mike Beebe, 76
Maria Claudia Borras, 54
David Bronczeck, 69
Mikel Durham, 60
Donnie King, 61
Jonathan Mariner, 69
Kevin McNamara, 67
Cheryl  Miller, 51
Kate Quinn, 58
Jefferey Schomburger, 61
Barbara Tyson, 74
Noel White, 65