“This award recognizes our ability to execute forward-thinking ideas to ensure we offer the best for our consumers, investors and employees every day,” said Jeffrey M. Ettinger, chairman of the board, president and CEO at Hormel Foods.
One challenge the Hormel Foods executive team created was the Billion Dollar Challenge in 2000 to generate $1 billion in sales from new products launched during this decade by the end of fiscal year 2009. The company met this goal two years early. With this milestone accomplished, Hormel Foods announced a new goal, Go for 2B by 2012, aimed at generating $2 billion in sales of new products by fiscal year 2012.