The annual survey is conducted by Fortune and the Hay Group division of Korn Ferry. Top executives, directors and financial analysts identify the companies that have the strongest reputations within their industries and across all industries.
“We’re proud to be recognized once again as the ‘World’s Most Admired Company’ in food production. This is a tremendous accomplishment – and a testament to the great work our team is doing every day,” said Tom Hayes, president and CEO of Tyson Foods. “2017 was a record year, and we will use that momentum to continue raising the world’s expectations for how much good food can do.”
“We want to grow our business continuously. We are squarely focused on that in all of our segments,” Hayes said during a media conference call in November. “We want to continue to deliver that with a cost base that is tight, and continues to allow us to leverage that growth to make great bottom line results.”
New members of the management team joined the company to help implement the strategy, including a new chief sustainability officer, Justin Whitmore, to advance efforts to produce food more sustainably and a new chief technology officer, Scott Spradley, to help the company innovate through new technology.
Hay Group has collaborated with Fortune annually since 1997 to identify, select and rank the World’s Most Admired Companies and uncover the business practices that make these companies highly regarded among their peers. To compile the rankings, corporate reputation and performance are measured against nine key attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products and services, and global competitiveness. Tyson Foods has an industry ranking of No. 1 for each of these key attributes.