Hormel Foods Corporation
Company: Hormel Foods Corporation, Austin, MN
Entry Submitted By: Burson-Marsteller
Company Description: Based in Austin, Minnesota, Hormel Foods Corporation is a multinational manufacturer and marketer of high-quality, brand-name food and meat products for consumers throughout the world. The company offers a wide variety of products including hams, bacon, sausages, franks, canned luncheon meats, stews, chilis, hash, meat spreads, shelf-stable microwaveable entrees and salsas.
Nomination Category: Management Awards Categories
Nomination Sub Category: Executive of the Year - Manufacturing
Nomination Title: Jeffrey M. Ettinger, Chairman of the Board, President & CEO
1. Tell the story about what this nominee achieved since January 1 2009 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
During a year characterized by economic turbulence and corporate instability,
Hormel Foods proved to be a strong and innovative company under the guidance of
Jeffrey M. Ettinger, chairman of board, president, and chief financial officer.
Ettinger manages the company through a simple philosophy of “responsible
results.” This means keeping a keen eye on the overall impact of each decision
he and the leadership team make to ensure the company moves in a direction that
is right for its employees, shareholders, communities and the environment. This
strategy has proven to be a key factor in the company’s achievements during
2009. In fact, despite challenges, Ettinger led Hormel Foods to increase
dividends in 2009, allowing the company to remain a “Dividend Aristocrat” – a
S&P 500 company that has increased its dividend payout for at least 25
Reflecting his philosophy, Ettinger spearheaded the company’s efforts to become
more proactive and transparent regarding corporate social responsibility and
sustainability initiatives. As a result, in 2009 Hormel Foods was recognized
among the 100 Best Corporate Citizens in the United States by Corporate
Responsibility Officer magazine and launched its first fully digital corporate
responsibility report to communicate the company’s efforts with stakeholders.
In addition, while competitors closed facilities in recent years, under
Ettinger’s leadership Hormel Foods constructed a new facility in Dubuque, Iowa
(opened in January 2010). This facility is designed to save substantially on
energy and water and is expected to meet Leadership in Energy and Environmental
Design (LEED) certification requirements which will make it among the first
food manufacturing facilities to be LEED certified.
Ettinger has made all business decisions through the lens of developing a
diversified portfolio that complements the range of existing brands at Hormel
Foods and utilizes the company’s core competencies. As such, in June 2009
Hormel Foods announced a joint venture agreement with leading Mexican foods
manufacturer Herdez del Fuerte to create MegaMex Foods, a freestanding company
which would market Mexican foods in the United States. This venture utilizes
Herdez del Fuerte’s Mexican food specialty and the scale, distribution network
and marketing expertise of Hormel Foods to capitalize on consumers’ growing
preference for Mexican flavors. This strategic move helps demonstrate why
Ettinger’s aggressive M&A strategy has been praised by both media and financial
analysts, and is greatly helping to set the stage for future growth at Hormel
Foods. In fact, in a recent third-party survey financial analysts gave Hormel
Foods a nine out of ten for high quality management.
Besides driving tremendous growth within the company, Ettinger has also
demonstrated his commitment to what he believes is best for the industry,
particularly in the face of controversy. He has never shied away from difficult
questions and has always demanded better solutions. Ettinger continues to do so
as Chairman of the American Meat Institute, a role he accepted in October 2009.
Without a doubt, Ettinger has accomplished a great deal during the past year.
We hope you, too, recognize the triumphs, integrity and focused vision of
Jeffrey M. Ettinger.
2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
3. Provide a brief (up to 100 words) biography about the nominee:
Jeffrey M. Ettinger, chairman of the board, president and chief executive
office at Hormel Foods, oversees all functions and operations for the $6
billion+ multinational business. Ettinger began his career with Hormel Foods in
1989 as a corporate attorney, and worked his way up, being promoted
incrementally though 2005 when he assumed his current titles.
Before joining Hormel Foods, Ettinger was vice president and general counsel
for Comar Marketing in Los Angeles. Ettinger holds a Bachelor of Arts and Juris
Doctorate from the University of California, Los Angeles and attended the
Program for Management Development at Harvard Business School.