Donnie King of Tyson Foods Inc. in Springdale earned more than $12 million in total compensation in his first full year as CEO, according to a proxy statement the company filed with the U.S. Securities & Exchange Commission.
King, a longtime executive with the company, was appointed to replace Dean Banks in June 2021 and his compensation for 2021 was $565 shy of $9 million. His 2022 salary was $1.3 million, and he received $5.1 million in stock awards and $3.4 million from the executive incentive plan.
King was the second-highest paid executive, trailing only company chairman John H. Tyson by slightly less than $20,000. John H. Tyson’s compensation included $1.2 million in salary, $4.7 million in stock awards and $2.8 million from the executive incentive plan.
The company reported that John H. Tyson’s use of the company aircraft, event tickets and cell phone use was valued at more than $1.4 million.
Former CEO Noel White, now the executive vice chairman of the board, received total compensation of $1.46 million, which included $1.15 million in salary and $86,137 in use of the company aircraft.
Amy Tu, the chief legal officer, received total compensation of $4.98 million, which included an annual salary of $750,000, stock awards of $2.1 million and $1.3 million from the executive incentive plan. Tu was promoted to group president of the company’s International division in September to replace Chris Langholz.
Langholz’s total 2022 compensation before his termination in August was $4.4 million, which included a base salary of $727,000, $1.55 million in stock awards and $1.6 million from the executive incentive plan.
Noelle O’Mara, who stepped down as group president of Prepared Foods in September, earned total compensation of $4.6 million. Her base salary was $758,000 and she received $1.8 million in stock awards and $1.3 million from the executive incentive plan.
O’Mara was replaced as group president by Stewart Glendinning, who earned total compensation of $4.4 million as CFO. That included a salary of $787,000, $1.6 million in stock awards and $1.3 million from the executive incentive plan.
Glendinning’s departure from the CFO position opened the job up for John R. Tyson, the son of the board chairman. John R. Tyson, as chief sustainability officer, earned total 2022 compensation of $1.1 million, which included a base salary of $512,000 and incentives of $522,045.
The company said John R. Tyson’s salary as CFO in fiscal 2023 would be $650,000.
Chief Technology Officer Scott Spradley, a named executive officer for the first time in the proxy, earned total compensation of slightly more than $4 million. His base salary was $696,000 and he received $1.6 million in stock awards and $1.1 million from the executive incentive plan.
Tyson Foods reported that its shareholders meeting would be held at 10 a.m. Feb. 9 at the company’s office on Emma Avenue in downtown Springdale. Shareholders will vote on the company’s 13-person board of directors, to ratify PricewaterhouseCoopers LLP as the company’s independent accounting firm and on one shareholder proposal.
The proposal, which is opposed by the company’s board of directors, would require Tyson Foods comply with the World Health Organization's guidelines for the use of antibiotics in animals.