Tyson chairman sells shares, clears $1.9M
John H. Tyson, chairman and grandson of the company's founder, sold Tyson Foods shares this week, clearing $1.9 million on the transaction.
According to filings with the Securities and Exchange Commission, John H. Tyson acquired 160,000 shares of the company's Class A Common Stock at $31.82 on Tuesday and then sold 132,277 shares at a weighted average price of $46.16 per share.
After the sale, John H. Tyson directly owns just shy of 2.74 million shares of Tyson Food's Class A Common Stock valued at approximately $133.5 million at market close Friday. According to Forbes, John H. Tyson and the Tyson family have a real-time net worth of $2.3 billion as of Friday and are ranked No. 1,338 among the world's richest people.
Springdale-based Tyson Foods has struggled over the past year, posting three back-to-back quarterly losses.
In fiscal 2023, Tyson booked revenue of $52.88 billion compared with $53.28 billion a year earlier for a decline of less than 1%. The company posted a loss for 2023 of $649 million, or $1.87 per share, compared with last year's net income of $3.25 billion, or $8.92 per share.
-- John Magsam
Board at OpenAI ousts CEO Altman
The board of ChatGPT-maker OpenAI said Friday that it has pushed out its co-founder and Chief Executive Officer Sam Altman after a review found he was "not consistently candid in his communications" with the board.
"The board no longer has confidence in his ability to continue leading OpenAI," the artificial intelligence company said in a statement.
Mira Murati, OpenAI's chief technology officer, will take over as interim CEO effective immediately, the company said, while it searches for a permanent replacement.
An OpenAI spokesperson declined to answer questions on what Altman's alleged lack of candor was about. The statement said his behavior was hindering the board's ability to exercise its responsibilities.
Altman posted Friday on X, formerly Twitter: "i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people. will have more to say about what's next later."
The Associated Press and OpenAI have a licensing and technology agreement that allows OpenAI access to part of AP's text archives.
Altman helped start OpenAI as a nonprofit research laboratory in 2015.
-- The Associated Press
Arkansas Index gets boost from Dillard's
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Friday at 867.75 points, up 16.
Shares of Dillard's Inc. rose 7.7% to lead the index.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.