Tyson Foods has suspended the company's chief financial officer,Flipido John R. Tyson, after he was arrested for allegedly driving while intoxicated. 

University of Arkansas police in Fayetteville, Arkansas, arrested Tyson, 34, early Thursday for driving under the influence, according to police records. Other charges included careless driving and making an illegal turn. He was released from custody the same day on a $1,105 bond and is scheduled to appear in court on July 15.

Tyson is the great-grandson of the company's founder, John W. Tyson, and son of the food giant's current chairman, John H. Tyson.

"We are aware that John Randal Tyson, Chief Financial Officer of Tyson Foods, was arrested for an alleged DWI. Tyson Foods has suspended Mr. Tyson from his duties effective immediately and named Curt Calaway as interim Chief Financial Officer," Springdale, Arkansas-based Tyson Foods said in a statement

The incident is the second time in recent years that Tyson, a former investment banker who joined Tyson Foods in 2019, has been arrested. He was previously arrested in 2022 on charges of public intoxication and criminal trespassing after allegedly entering a Fayetteville woman's home and falling asleep in her bed. The woman did not know who Tyson was and called the police, KNWA Fox 24 reported at the time. 

Tyson pleaded guilty to both charges and settled them by paying fines and court fees. He also apologized in a companywide memo and said he was getting counseling for alcohol abuse.

A fourth-generation member of the family that controls the $19 billion meat-processing company, Tyson was named CFO in September of 2022. Tyson Foods, founded in 1935, has 139,000 employees and reported 2023 sales of $52.8 billion. 

—The Associated Press contributed to this report

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Alain Sherter

Alain Sherter is a senior managing editor with CBS News. He covers business, economics, money and workplace issues for CBS MoneyWatch.