Tyson Foods Ranks No. 1 on Fortune’s World’s Most Admired Companies List for Food Production for Sixth Consecutive Year
For the sixth consecutive year, Tyson Foods, Inc. (NYSE: TSN) ranks No. 1 on Fortune magazine’s list of the World’s Most Admired Companies in the Food Production category.
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Photo by Javier Quiroga on Unsplash
The annual survey, conducted by Fortune and Korn Ferry, asks top executives, directors and financial analysts to identify the companies that have the strongest reputations within their industries and across all industries.
“We believe this ranking reflects our focus on winning with team members, winning with our customers and consumers, and winning with excellence in execution,” said Donnie King, president & CEO of Tyson Foods. “Tyson is a great company with a great team. We’re honored to be recognized as a leading food company that is investing in rural America to help meet the needs of a growing, global market. We remain committed to excelling at what we do, from workplace safety and environmental sustainability to product development and digital technology.”
The health and safety of its 137,000 team members remains Tyson Foods’ top priority. The company has spent hundreds of millions of dollars on measures to protect workers during the pandemic. Last year Tyson Foods was one of the first companies to require vaccinations for its U.S. workforce, and it continues to offer on-site vaccination booster events for workers and their families.
Across rural America, every year Tyson Foods invests more than $15 billion with 11,000 independent farms that supply cattle, pigs and chickens. The company also supports rural communities in other ways – doing business with local vendors and suppliers and buying millions of bushels of grain for livestock feed. Tyson Foods is also a major employer in many rural communities, generating millions of dollars in payroll. Last year, the company announced it would pay approximately $50 million in year-end bonuses to its frontline and hourly employees and is also investing in childcare facilities at some of its locations. Tyson Foods also donated more than 16 million pounds of protein in fiscal year 2021 – the equivalent of 64 million meals. The food donations were given to local food banks, pantries and hunger relief organizations.
In June 2021, Tyson Foods announced its ambition to achieve net-zero greenhouse gas emissions across its global operations and supply chain by 2050. This ambition is an expansion of the company’s current science-based target of achieving a 30% greenhouse gas emissions reduction by 2030, which made Tyson the first U.S.-based protein company in the food and beverage sector to have an emissions reduction target approved by the Science Based Target initiative (SBTi).
Tyson Foods is passionate about creating an inclusive workplace that supports and empowers all team members. This includes remaining focused on ensuring the recruitment, development and retention of a diverse group of team members and providing them with the opportunity to grow and develop personally and professionally.
Fortune’s World's Most Admired Companies list is the definitive report card on corporate reputations. Korn Ferry 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 ranks No. 1 in the Food Production category in all nine of these.
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