Scott Spradley, chief technology officer of Tyson Foods, left the company on Monday (Jan. 9), according to filings with the U.S. Securities and Exchange Commission. No information was provided regarding his sudden departure. Spradley said he was hired in June 2017.
Tyson said an employee in the company’s information technology department will take over Mr. Spradley’s responsibilities. We have no immediate plans to fill this position.
The company also said it plans to enter into a separation and release agreement. By signing the contract, he will receive his $1.4 million from his executive retirement plan, which is double his annual base salary.
Benefits are paid in installments over 24 months immediately after departure, subject to a 6-month waiting period. He is entitled to receive his additional lump sum of $211,538 due in July 2023. This is equivalent to a prorated annual incentive payout based on the company’s annual incentive compensation plan for senior executives.