Keynote by Jeff Ettinger with Hormel

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Jeff Ettinger, CEO of Hormel Foods, gave a keynote address at the 2013 Agri-Growth Council Annual Meeting & Speakers Conference.

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  • Jennie-O Turkey Sore HistoryMore than 70 years of innovation.In 2001 Jennie-O Foods and The Turkey Store Company merged under Hormel Foods Corporation to become the brand you know today—Jennie-O Turkey Store. What began as the visions of two entrepreneurs has turned into one of the world’s largest processors and marketers of turkey products.The vision for today’s brand can be traced back to our founding fathers—Earl B. Olson and Wallace Jerome. The two are remembered as visionaries who made countless contributions to the innovation of the turkey industry. Earl B. Olson, Founder of Jennie-O FoodsEarl B. Olson is considered an icon in the turkey business. His tireless efforts and forward thinking helped propel Jennie-O Turkey Store and the turkey industry to what it is today.1940: Earl starts raising turkeys while managing a small creamery.1949: Earl purchased his first turkey processing plant, Farmer's Produce Company, in Willmar, Minnesota.1950: Dairy and other poultry products are phased out to focus solely on turkey.1953: Earl converts Farmer's Produce to a USDA-inspected turkey plant and names the brand Jennie-O®—after his daughter, Jennifer.1954: Earl purchases a second plant and seeks international distribution.1963: Earl's son, Charles, joins the sales staff.1971: Farmers Produce becomes Jennie-O Foods.1973: The Willmar Avenue plant and corporate office are built to accommodate expanding processing capabilities.1974: Charles becomes president of Jennie-O Foods.1984: Jennie-O Foods is among the first to develop the turkey hot dog, using a top-secret seasoning recipe and a custom-built, continuous oven stretching 100-feet long.1986: Jennie-O Foods becomes a wholly-owned subsidiary of Hormel Foods Corporation. Wallace Jerome, Founder of The Turkey Store Company1922: At age 13, Wallace begins raising turkeys.1941: Wallace founds The Turkey Store Company, an early leader in the industry.1951: Wallace purchases a second plant and names it Badger Turkey Industries. This facility is the first federally inspected, cooked-turkey processing plant in Wisconsin.1964: Badger Turkey Industries becomes Jerome Foods.1974: Wallace’s son, Jerry, joins the company as executive vice president.1980: Jerry is named president of The Turkey Store Company.2001: The Turkey Store Company becomes a wholly-owned subsidiary of Hormel Foods Corporation. Jennie-O Foods and The Turkey Store Company are merged forming Jennie-O Turkey Store.
  • We usually just say "over 200". The number is closer to 250 if you add farms that are independent as well.
  • Pine Hill – The BritainsClear Lake, WI
  • Jean,1. You are correct that the photo labeled Beijing Capital Agri Group should be Beijing Hormel Foods Company, Ltd. - This is the best photo we have.2. I would also recommend that you keep the Shanghai plant photo labeled Shanghai Jinjiang Group, but this should be Shanghai Hormel Foods Company Ltd. The photo does not show the innovation center as it is imbedded into our office building.3. The Weifang plant photo that you have is ok, if not a little touched up. We do not have a better one yet. The plan is to update a location photo when the signage is Hormel Foods.JV and Plant employees are as follows:Total number of employees: 1106 Plant employee: 806 Ruben is looking for a few innovation center photos. I will forward those tomorrow Wednesday (Oct. 23).
  • J-OTS MontevideoJ-OTS MelroseJ-OTS WillmarJ-OTS FaribaultJ-OTS Pelican RapidsLLOYD’S AUSTIN PLANT
  • Keynote by Jeff Ettinger with Hormel

    1. 1. HORMEL FOODS Jeff Ettinger, Chairman, President &CEO
    2. 2. Hormel Foods Overview • Global, $8 billion company with headquartersin Austin, Minnesota • More than 19,800 employees • Purchase over 3 million hogs per year from Minnesota family farms
    3. 3. Balanced Model Protein Packaged Foods Retail Foodservice Deep Supply Chains in Pork and Turkey Purchase Everything Else Financially Conservative Innovative Culture
    4. 4. Leading Brands At least 34 products have #1 or #2 market share positions in their category • These categories span our Grocery Products, Meat Products and Jennie-O Turkey Store segments
    5. 5. Major Agricultural Presence – Jennie-O Turkey Store
    6. 6. Founding Fathers What started with two young entrepreneurs has turned into one of the world’s largest turkey processors – processing over 1.2 billion pounds on an annual basis Wallace Jerome Earl Olson
    7. 7. Corn / Soy Purchases
    8. 8. Jennie-O Turkey Store Hatcheries Detroit Lakes Henning Barron
    9. 9. Jennie-O Turkey Store Feed Mills Perham Henning Swanville Barron Atwater Dawson Northfield Faribault
    10. 10. Jennie-O Turkey Store Company Owned Farms Over 200 turkey farms
    11. 11. Responsible Growing Pine Hill - Clear Lake, WI
    12. 12. Total Value-Added Sales In millions
    13. 13. Commercials Biggest Loser Make the Switch
    14. 14. Jennie-O Turkey Store Exports • Exports have increased over time • Export revenue increased 25% in the past 2 years • Key new markets include… • • • • • Africa China Dominican Republic Philippines Middle East 1,000 metric tons million U.S. dollars
    15. 15. Turkey Distribution in West Africa
    16. 16. Pork Exports U.S. Pork Exports HFIC Pork Exports January – March 2013 January – March 2013 Australia 3% Philippines 2% Canada Taiwan 11% 3% Taiwan 3% (In volume) South Korea 7% Mexico 26% Mexico and Central America 3% Japan 13% Japan 21% Others 8% China / HK 19% Philippines 4% China / HK 51% South Korea 26%
    17. 17. Hormel Foods International Delivering Accelerated Growth Revenues In millions Revenues In millions
    18. 18. Global Business Partners
    19. 19. We invested in China more than 15 years ago…
    20. 20. Hormel China Revenue Growth
    21. 21. China Strategic Mission MISSION: Hormel China has a business model focusing on foodservice and retail portfolios. Foodservice Expansion Focus Refrigerated Retail Expand Ambient
    22. 22. Global SKIPPY® Net Sales Canada $20 million China $30 million China Exports $18 million $95 million
    23. 23. Hormel Operations in China Beijing Hormel Foods Company, Ltd. Weifang Plant Shanghai Hormel Foods Company, Ltd. More than 1,100 employees
    24. 24. Our Legacy of Corporate Responsibility • George A. Hormel and his vision • Operating responsibly • Taking care of our people, our communities • Jay C. Hormel and profit sharing • Hormel Foundation • Hormel Institute
    25. 25. Step Up Program Highlights • What is Step Up? • A nationally-recognized model for youth workforce development and mentoring, initiated in 2002 by Minneapolis Mayor RT Rybak, chaired in 2013 by Richard Davis, CEO US Bank. • Why? • To provide low-income high school juniors in Austin a paid professional work experience that might not otherwise be available to them. • How did we partner with Austin and Pacelli High Schools? • Targeted high school juniors who met qualifying criteria (GPA, income). • Application process, work readiness training, interviews, mentoring, feedback, coaching, metrics. • Where would the students work? • Various functional areas at Hormel Foods (R&D, HR, IT, Plant, Ops, Consumer Insights). • Dates of the program? • June 17th - August 9th (20-30 hours per week).
    26. 26. Immigration Reform
    27. 27. Corporate Responsibility Recognition • • • • G.I. Jobs CR Magazine’s 100 Best Corporate Citizens Green Plant of the Year-Progressive Processing Other Initiatives • Plant community donations
    28. 28. Corporate Responsibility Recognition • • • • G.I. Jobs CR Magazine’s 100 Best Corporate Citizens Green Plant of the Year-Progressive Processing Other awards • Plant community donations • Project SPAMMY™
    29. 29. Closing • Minnesota Agri-Growth participants are vital to the future of feeding the world • The work you do is extremely important; together we can make a difference

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