Hormel wins Stevie Award for innovative strategies
July 20, 2009
by Bryan Salvage
AUSTIN, MINN. — Hormel Foods Corporation won a Stevie Award for being the "Most Innovative Company" in the recently announced 2009 American Business Awards.
"This award recognizes our ability to execute forward-thinking ideas to ensure we offer the best for our consumers, investors and employees every day," said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods.
Hormel Foods’ executive team created the Billion Dollar Challenge in 2000 to generate $1 billion in sales from new products launched during this decade by the end of fiscal year 2009. The company met this goal two years early. With this milestone accomplished, Hormel Foods announced a new goal — Go for 2B by 2012, aimed at generating $2 billion in sales of new products by fiscal year 2012.
The processor also launched an innovative research initiative in 2008 aimed at helping its retail partners better serve shoppers of convenience foods. The research study found retailers can better serve shoppers by creating a dedicated convenience meals aisle where the full range of quick-and-easy products can be found. Many retailers have already implemented recommendations from Hormel Foods, and several more are expected to do so in the near future.
Details about The American Business Awards and the list of Finalists and Stevie Award winners are available at http://www.stevieawards.com/aba.