The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare.
Part 1 — Former CFO John R. Tyson returns to the family business as a board member
John R. Tyson, a fourth-generation heir to Tyson Foods, has been appointed to the company’s board of directors after being removed from his role as CFO in 2024 following multiple alcohol-related incidents.
Tyson, who previously served as both CFO and chief strategy officer, pleaded guilty to two separate events — one in which he was found asleep in a stranger’s bed and another in which he was arrested for driving while intoxicated. He will now serve on the board’s strategy and acquisitions and technology committees.
His sister, Olivia Tyson, has also been named to the board. Though her corporate experience is limited, she will serve on the compensation and leadership development and technology committees. She has led the Tyson Family Foundation as president since 2018 and is also the co-founder of a small film production and financing company.
John H. Tyson, their father, is the current Chairman of Tyson Foods and the only family member in a formal operational leadership role. He stepped down as CEO in 2006. No Tyson family members have served on the executive leadership team since John R. Tyson was replaced by Curt Calaway as interim CFO following his second arrest.
The company has faced continued leadership turnover and public scrutiny beyond the conduct of its former CFO. It has been accused of using its market size to influence the broader meatpacking industry and was sued for allegedly making false climate-related claims. Despite criticism from some members of Congress for recently exploiting child labor and describing their practices as “anti-American,” Tyson Foods has recently taken steps to cooperate with law enforcement to ensure its workforce maintains legal immigration or citizenship status.
Part 2 — This week
Here’s a list of important market events slated for the week ahead.
Monday, May 12
- Monthly U.S. federal budget, April
Tuesday, May 13
- NFIB optimism index, April
- Consumer price index, April
- Core CPI, April
Wednesday, May 14 — None scheduled.
Thursday, May 15
- Initial jobless claims, week of May 10
- U.S. retail sales, April
- Producer price index, April
- Core PPI, April
- Empire State manufacturing survey, May
- Philadelphia Fed manufacturing survey, May
Friday, May 16
- Import price index, April
- Consumer sentiment (preliminary), May
Part 3 — KPMG’s head of audit on new technology, state of auditing
KPMG’s audit tech platform, Clara, is a big part of how the Big Four firm looks to modernize how audits get done. This week, CFO.com will publish a story based on an interview with Thomas Mackenzie, KPMG’s audit chief technology officer and audit partner in charge of the firm’s global solutions group. He breaks down how the company is using this new AI tool to bring in real-time data and flags risks early while detailing how it’s also helping ease burnout by taking repetitive work off auditors’ plates. With audit talent getting harder to keep, KPMG is betting that tech can help change the job for the better.
