Tyson Foods names Curt Calaway as CFO 

Tyson Foods removed the interim title and officially made Curt Calaway the chief financial officer with a base salary of $675,000 and increased target annual incentive plan to 110% of his base salary. His target annual long-term incentive award is $300,000.

The changes were effective June 13, the date he took over the position from John R. Tyson, son of chairman John Tyson and grandson of the company founder. John R. Tyson was arrested for driving while intoxicated near the University of Arkansas in downtown Fayetteville. It was the young Tyson’s second alcohol-related arrest in less than two years.

John R. Tyson, 35, remains employed by the company but is out on a medical-related leave. The company did not elaborate on when he might return and at what position. Prior to becoming CFO, he was sustainability officer for the Springdale-based meat giant.

Calaway, 50, has worked in various executive roles since joining the company in 2006 as its controller and chief accountant officer. Calaway, who will report directly to CEO Donnie King, has nearly 30 years of experience in finance, audit and accounting. He was CFO for Tyson’s prepared foods business and was responsible for mergers and acquisitions. He also worked as treasurer, where he led investor relations, treasury, corporate finance and supply chain finance.

“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.”