Report Introduces Strengthened CSR Governance and Management Structure, New Goals and Targets
Submitted by: Smithfield Foods
Posted: Jul 22, 2010 – 04:50 PM EST
SMITHFIELD, Va., Jul. 22 /CSRwire/ - (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (NYSE:SFD) today released its ninth annual Corporate Social Responsibility (CSR) Report, which highlights the company's progress in environmental performance, animal welfare, food safety, community relations, and employees -- key CSR areas for the company and its stakeholders.
The 100-page report also includes a retrospective that will give readers a better understanding of where the company started, the challenges it has faced, and how far it has come on its CSR journey. The content focuses primarily on calendar year 2009, but includes fiscal 2010 financial information and discussion of some key developments that occurred in early 2010. Smithfield's fiscal year runs from May through April.
In addition, the report introduces Smithfield's strengthened CSR governance and management structure, including a series of new goals and corresponding targets. Specific goals include the following:
Smithfield also announced that it has two new sustainability committees--the Sustainability, Community, and Public Affairs Committee composed of board members, and a corporate Sustainability Committee made up of top executives from across the company.
"CSR is now deeply embedded in our company culture, from the executive suite and boardroom to the farms where our workers take care of our animals--and every level in between. Our company's future performance is intrinsically linked to our performance on sustainability issues. We are committed to transparency as we report on our progress and on our challenges," said C. Larry Pope, president and chief executive officer.
"When I joined Smithfield Foods almost a decade ago, the company was aiming to improve its performance. Over the years, we have transformed ourselves into a company that is leading our industry in many areas, including environmental performance, animal well-being, and the health and safety of our employees. We understand that managing CSR is integral to producing good business results and essential to maintaining good relationships with all our stakeholders," added Dennis H. Treacy, senior vice president of corporate affairs and chief sustainability officer.
The Smithfield Foods 2009/10 Corporate Social Responsibility Report is available on the company's website at http://www.smithfieldfoods.com/responsibility/reports.aspx.
About Smithfield Foods
With sales of $11 billion, Smithfield Foods is the leading processor and marketer of fresh pork and packaged meats in the United States, as well as the largest producer of hogs. For more information, visit www.smithfieldfoods.com.
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