This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Dive Brief:  Hormel Foods named Donald Monk as its first chief technology officer and most senior technology leader effective March 23, the company said Tuesday. Monk will report to Hormel Foods President John Ghingo, a spokesperson said via email.  Monk led global technology strategy and operations at General Mills during his 33-year tenure with the company, serving as CI ...

Hormel Foods Appoints Donald Monk as Company's First Chief Technology Officer [Accessibility Statement] Skip NavigationNew role underscores company's commitment to modernizing technology, digital and data capabilitiesAUSTIN, Minn., Feb. 24, 2026 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced the appointment of Donald Monk as chief technology officer, effective March 23. In this newly created role, Monk will serve as the company's senior- most ...

This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Dive Brief: Smithfield Foods said Monday it would spend up to $1.3 billion over the next three years on a new combined packaged meats and pork processing plant in Sioux Falls, South Dakota. The highly automated facility is set to be "the most modern of its kind in the U.S.," the pork giant said in a statement, and will help deliver "significant efficiency gains" to th ...

Core Viewpoint - Tyson Foods and Cargill have settled a long-standing legal dispute with Oklahoma regarding pollution in the Illinois River Watershed, agreeing to fund remediation efforts and pay significant fines [1][5]. Settlement Details - Tyson will pay $19 million and Cargill will pay $6.5 million as part of the settlement [1]. - The companies will progressively increase the removal of poultry litter from the area and contribute to a fund for monitoring compliance and remediation [2]. Corporate Statements - Cargill stated it no longer operates in the area and has fulfilled its litter removal obligations [3]. - Tyson expressed that the resolution is in the best interest of growers and communities in northeast Oklahoma and northwest Arkansas [3]. Legal Background - The lawsuit was initiated in 2005, targeting multiple poultry companies for alleged pollution due to phosphorus runoff from poultry litter [4]. - A federal court ruled in favor of Oklahoma in January 2023, rejecting the defendants' claims of reduced phosphorus levels [4]. Implications of the Settlement - The settlement emphasizes corporate accountability and the necessity of protecting Oklahoma's water while supporting the agricultural industry [5]. - The settlements are seen as a way to provide certainty for growers and protect jobs while safeguarding water resources for future generations [6].

Cargill is permanently closing a plant that produces ground beef in Milwaukee, resulting in the elimination of 221 jobs, according to a notice. https://t.co/ZPQKKUVOmp ...

Group 1 - The European Commission plans to present a strategy in March aimed at deepening the EU's single market, which serves 450 million consumers, to enhance operational ease for companies across the EU [1] - The initiative includes advancing the long-delayed capital markets union, which seeks to utilize approximately €10 trillion in savings currently held in bank accounts for more productive investments [1] - The Commission aims to complete phase one of the Savings and Investment Union, focusing on market integration, supervision, and securitization by June [1] Group 2 - If progress is insufficient among all 27 EU member states, the Commission is open to proceeding with a smaller group of at least 9 member states to expedite the project [1] - Enhanced cooperation will be considered if there is a lack of sufficient progress by the set deadline [1]

Group 1 - Social media trends around charcuterie boards have increased sales of salami, pepperoni, and other meats, with dry sausage expected to grow over 6% through 2030 [3] - Smithfield is consolidating its manufacturing network to offset inflation and reduce costs, including the acquisition of a Cargill plant to enhance production capacity [4] - The company has reduced costs by selling over one-third of its hogs and is investing in packaged meats, achieving a record operating profit in Q3 with a 9% sales increase in the packaged meat segment to $2.1 billion [5] Group 2 - Smithfield Foods will close a Massachusetts dry sausage plant, laying off 190 workers, with production being transferred to other facilities [7] - The company has expanded its production capacity for dry sausage with the purchase of a Cargill plant in Nashville, capable of producing 50 million pounds of pepperoni and charcuterie meat annually [7]

Core Viewpoint - Tyson Foods is a significant player in the food industry, with upcoming quarterly earnings expected to show a decrease in EPS but an increase in revenue [1][3]. Financial Performance - The company is projected to report an EPS of $1.01, which represents an 11.4% decrease from the same quarter last year [3]. - Revenue is anticipated to reach approximately $14.12 billion, reflecting a 3.66% increase from the previous year [3]. - Tyson Foods has a price-to-earnings (P/E) ratio of about 47.88, indicating the price investors are willing to pay for each dollar of earnings [4]. - The price-to-sales ratio stands at approximately 0.43, suggesting that investors are paying 43 cents for every dollar of sales [4]. - The company has a debt-to-equity ratio of about 0.49, indicating a balanced approach to financing its assets [4]. Stock Performance - Tyson Foods' stock closed at $64.60, marking a 1.75% decrease from the previous session, contrasting with the S&P 500's slight loss of 0.01% [2]. - Despite the recent dip, Tyson Foods' shares have risen by 11.1% over the past month, outperforming the Consumer Staples sector's gain of 4.93% and the S&P 500's increase of 0.78% [2]. Market Sentiment - Investors are closely monitoring the upcoming earnings report, as a positive surprise could drive the stock higher, while a miss might lead to a decline [5]. - The management's discussion during the earnings call will be crucial in determining the sustainability of any immediate price changes and future earnings expectations [5].

Core Viewpoint - Central Garden & Pet Company has appointed Apur Patel as Chief Legal Officer, effective January 26, 2026, succeeding George Yuhas who is retiring [1][2][3] Group 1: Appointment Details - Apur Patel will oversee all legal matters including corporate governance, mergers and acquisitions, securities and compliance, litigation, intellectual property, and enterprise risk management [2] - Patel has over 30 years of global experience in legal roles across consumer packaged goods, technology, and healthcare, previously serving at The Clorox Company as Vice President & Deputy General Counsel [3][4] Group 2: Leadership Transition - Niko Lahanas, CEO of Central Garden & Pet, expressed gratitude towards George Yuhas for his interim role and welcomed Apur Patel, highlighting his experience in aligning legal strategy with business priorities [3] - Patel is recognized for his executive presence and ability to build high-performing legal teams [4] Group 3: Company Overview - Central Garden & Pet Company is a leading consumer goods company in the pet and garden industries, with fiscal 2025 net sales of $3.1 billion [6][7] - The company has a diversified portfolio of market-leading brands and employs over 6,000 people, primarily in North America [7]

Group 1 - CMA CGM has named its 400th fully owned vessel, the CMA CGM Monte Cristo, which is a new-generation, 15,000 twenty-foot equivalent unit, dual-fuel methanol vessel, reflecting the company's long-term fleet strategy and commitment to sustainable shipping solutions [1] - The ceremony for the vessel's naming highlights CMA CGM's strong presence and long-standing commitment in the Asia-Pacific region [2] Group 2 - Golden Island Pte Ltd has completed Singapore's first methanol bunkering operations, following the Maritime and Port Authority of Singapore's award of methanol bunkering licenses effective January 1, 2026 [5] - The Brave Pioneer, a Singapore-flagged dual-fuel dry bulk carrier, received 300 tonnes of methanol during a bunker delivery, showcasing the collaboration between multiple companies in the methanol supply chain [6][7] Group 3 - The Colombo East Container Terminal of the Sri Lanka Ports Authority has commissioned its third berth, marking a significant operational milestone [10] - The terminal aims for an ambitious throughput objective of 1.5 million TEUs within the year, following the completion of jetty construction works scheduled for mid-February [11] - The advancement of the Sri Lanka Ports Authority and other terminal operators is contributing to economic value through foreign exchange earnings, employment generation, and enhanced trade connectivity [12]