SPRINGDALE, Ark., March 18, 2008 (PRIME NEWSWIRE) -- A ranking of the ethics and compliance programs of federal government contractors lists Tyson Foods, Inc. (NYSE:TSN) among the best, the company reported today.
The Ethisphere Institute, a national organization dedicated to ethics in business, ranked Tyson's ethics and compliance program as "above standard" and 21st in a listing of the "Best Ethics Programs Overall." Tyson was also second among food companies listed.
Researchers from the Institute analyzed 1,000 federal government contractors as part of the 2008 ratings, which were based on an objective analysis of four categories: code of ethics and business conduct; leadership and tone from the top; internal control systems; ethics training and communication programs.
"The 'above standard' rating and our ranking of 21st among 1,000 top contractors demonstrates we have established a strong compliance program, a program that we can all be proud of and one that exceeds the new federal acquisition regulation," said Executive Vice President and General Counsel Al Gonzalez, who is responsible for Ethics, Compliance, and Internal Audit for Tyson Foods.
Tyson's program includes annual ethics and Code of Conduct training, as well as a Corporate Compliance Department responsible for helping Team Members deal with the challenges of doing business the right way. This includes providing a toll-free Ethics Help Line as a confidential way for Team Members to ask about ethical business matters or to report suspected misconduct without fear of retaliation. Tyson's efforts to operate responsibly also include the company's Core Values (http://www.tyson.com/Corporate/AboutTyson/CompanyInformation/CoreValues.aspx) and Team Member Bill of Rights (http://www.tyson.com/Corporate/AboutTyson/CompanyInformation/TMBillOfRights.aspx.)
Tyson Chairman John Tyson notes at the beginning the company's Code of Conduct (http://media.corporate-ir.net/media_files/irol/65/65476/govDocs/Tyson_CodeofConduct2007.pdf) that "ethical business is good business -- it's the foundation of a successful business. Our business success depends on our commitment to, and reputation for, operating with integrity respect, accountability and honor..."
"Our ethics and compliance program being recognized in the top three percent of the largest federal contractors is just another reason for our customers to buy Tyson beef, pork, chicken, and prepared food products," said Bernard Leonard, group vice president of Tyson Food Service. "All our customers, including those enjoying our consumer driven menu solutions, can have confidence that we strive to be a leader in doing business 'the right way'."
"While there are some contractors to whom ethics means little, we have found that there are many more who rightfully pride themselves on their ethical business practices." said Alex Brigham, executive director of the Ethisphere Institute. "In undertaking this exhaustive research and ranking we have found the opportunity to highlight companies that have taken proactive measures to implement the proper controls, culture and programs to communicate company values and prevent unethical behavior. They should be a shining example to others in the industry."
The Ethisphere study notes Tyson is 211 on the list of the largest 1,000 contractors. For a complete listing of the government contractors ratings by Ethisphere Magazine, go to www.ethisphere.com.
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN), founded in 1935 with headquarters in Springdale, Arkansas, is the world's largest processor and marketer of chicken, beef, and pork, the second-largest food production company in the Fortune 500 and a member of the S&P 500. The company produces a wide variety of protein-based and prepared food products and is the recognized market leader in the retail and foodservice markets it serves. Tyson provides products and service to customers throughout the United States and more than 80 countries. The company has approximately 104,000 Team Members employed at more than 300 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
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About The Ethisphere Institute
The Ethisphere Institute, with the support of its keystone partners LexisNexis, the Practising Law Institute, Red Flag Group, the National Association of Corporate Directors, Trace International, the Global Reporting Initiative, Corpedia, and associated membership group, the Ethisphere Council, was founded in 2006. Dedicated to the research, creation, and sharing of best practices in business ethics, compliance, sustainability, and corporate governance and citizenship, the Council is comprised of over 200 institutions and corporations, including Deutsche Telekom, Time Warner, Avaya and Kraft. Ethisphere Magazine is the quarterly publication of the Institute, created to illuminate the important correlation between ethics and profits. The motto of the Institute is "Good. Smart. Business. Profit." and more information on membership can be found at http://www.ethisphere.com.