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Hormel Foods Distributes Annual Profit Sharing

29 November 2011, at 9:45am

US — Hormel Foods Corporation distributed an annual profit share of more than $16.5 million to eligible hourly and salaried employees during this 73rd annual Thanksgiving Eve Day tradition.

“We are honored to again recognize our employees for their contributions to a record year in net sales and earnings,” said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods.

“It is gratifying to be able to provide this benefit to our hard-working employees who are committed to delivering great-tasting products to consumers around the world.”

Hormel Foods, a multinational marketer of consumer-branded food and meat products, continues to be among a small group in the meat and food industry retaining its profit sharing plan.

The programme was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the company’s Board of Directors.