Fortune magazine has named Tyson Foods, Inc. as one of “America’s Most Admired Companies.”
Fortune magazine has named Tyson Foods, Inc. as one of “America’s Most Admired Companies.” The magazine compiles a list of top companies each year. Tyson Foods was one of six companies to make the most admired list in the Food Production category and the only meat company among them.
“To receive this type of recognition is very humbling,” said Donnie Smith, president and CEO of Tyson Foods. “It serves as a reminder to the hard working Tyson team members that they’re doing important work each day; helping to bring families together around their tables with safe, affordable, quality foods.
“The rankings also take into account areas like innovation, financial stability and social responsibility, all of which are fundamental to our business,” Smith said. “I’d like to congratulate not only our team members, but also many of our retail and food service customers that were also recognized.”
Fortune assesses leading businesses in 57 industry sectors, along with the Hay Group, which surveys executives, directors and analysts within their respective industries, to rank the companies on nine criteria, including financial attributes, corporate social responsibility and product quality, among others.
Among the survey respondents, Tyson Foods scored its highest ranking for innovation. On the campus of the company’s corporate offices in Springdale is the Tyson Discovery Center,™ its hub of food innovation. The Tyson Discovery Center houses the company’s research and development team, complete with home and commercial test kitchens, focus group facilities and a 40,000-square foot pilot plant that duplicates processes in the company’s production plants.
The company is also a major supplier of protein products to the school hot lunch program. Through product innovation, it has been able to reduce overall sodium levels in Tyson Foods products served to schoolchildren by 12 percent – and as much as 46 percent in some specific categories.
In its most recent quarter, Tyson Foods reported a 47 percent increase in earnings, year-over-year. Total sales were up 4.7 percent.
Fortune is the second major financial magazine to recognize Tyson Foods in recent weeks. In its December/January edition, Institutional Investor named Smith and Tyson Chief Financial Officer Dennis Leatherby to its “2014 All-American Executive Team” within the food category.