Tyson Foods Chief Technology Officer Scott Spradley had left the company after five years, the company said in a filing with the U.S. Securities & Exchange Commission on Monday.
No reason was given for Spradley’s departure nor was there any comment from Tyson Foods included with the filing. Tyson Foods said it believes it will have a “separation agreement” with Spradley that will provide him with $1.4 million in severance pay over the next years along with other benefits that could total more than $1.9 million.
According to a proxy statement filed with the SEC in December, Spradley earned slightly more than $4 million in total compensation in 2022, including a base salary of $696,000, stock awards of $1.6 million and $1.1 million in executive incentives.
“The foregoing payments and benefits are expected to be subject to Mr. Spradley agreeing to a release of claims in favor of the company and reaffirming his commitment to comply with his existing restrictive covenant and confidentiality obligations,” Tyson Foods said in the SEC filing.
Spradley was not a named executive in 2021 or 2020 but earned total compensation of $3.67 million in 2019. Spradley was hired by then-CEO Tom Hayes in June 2017 after he had spent the previous five years as chief information officer at Hewlett Packard Enterprise.