AUSTIN, Minn. — Hormel Foods Corp., a Fortune 500 global branded food company, has been named one of the World’s Most Admired Companies, by Fortune magazine.
“We are extremely proud to be included on this prestigious list,” said Jim Snee, Hormel Foods chairman of the board, president and CEO. “For 132 years, Hormel Foods has brought innovation, beloved brands and outstanding value to our consumers, customers, communities and shareholders. This honor is well-deserved recognition for the great work being done every day by our 20,000 inspired team members.”
Corporations featured on the Most Admired List are rated by executives, directors and analysts in their respective industries based on nine criteria, including investment value, quality of management and products, social responsibility, people management and ability to attract talent. A company’s score must rank in the top half of its industry to be included on the list of companies with the strongest reputations. Fortune collaborated with Korn Ferry to determine the industry groupings by using the Fortune 1000 listing and the Global 500 listing. The Fortune World’s Most Admired Companies list identifies the companies that enjoy the strongest reputations within their industries and across industries.
“Fortune congratulates all of the companies whose competitors and peers recognize their achievements and voted them onto the 2023 Fortune World’s Most Admired Companies list, as well as the top 50 All-Stars, who have been named the best of the best by the broader business community in a challenging year,” said Fortune Editor in Chief Alyson Shontell.
Hormel Foods adds that it has a longstanding reputation as one of the most successful food companies in the world, and in 2022 received numerous honors and accolades, including being named one of America’s Most Trustworthy Companies and one of America’s Most Responsible Companies by Newsweek; recognized as one of the World’s Top Female-Friendly Companies by Forbes and one of the 100 Best Corporate Citizens by 3BL Media; and was recently names to the Investor’s Business Daily annual list of the 100 Best ESG Companies.