Smithfield Foods, the world’s largest hog producer, has been named one of the most admired global food production companies. Fortune Magazine’s list of most admired food production ranked Smithfield second, slightly behind Wilmar International.
This year Smithfield moved up eight positions after placing 10th in last year’s list.
"Our advancement on the FORTUNE list from tenth to second place is incredibly meaningful to us as a company and speaks to the hard work of our staff. Our employees go to work every day focused and dedicated to moving Smithfield Foods forward and their efforts have not gone unnoticed," C. Larry Pope, president and chief executive officer for Smithfield Foods, said in a news release.
Other food production companies mentioned include Ingredion, Archer Daniels Midland and Bunge.
Fortune Magazine’s list spans across all industries, with Apple and Google taking the top rankings of all industries. Other companies include Starbucks (#5 ), McDonald’s (#12 ), Whole Foods Market (#19 ), Caterpillar (#20), Costco Wholesale (#23 ), Wal-Mart (#27), Deere (#40), and DuPont (#41).
A Smithfield news release explained how winners are selected. Fortune Magazine "asks executives, directors and analysts to rate companies in their own industries on nine areas of reputation criteria including: ability to attract and retain talented people, quality of management, social responsibility to the community and the environment, innovativeness, quality of products or services, wise use of corporate assets, financial soundness, long-term investment value and effectiveness in doing business globally.To qualify, a company's score must rank in the top half of its industry survey. Then, survey respondents are asked to select the 10 companies they admire most in each category."