Hormel Foods Elects New Member to Board of Directors.Business Editors AUSTIN, Minn--(BUSINESS WIRE)--Nov. 25, 2003 Hormel Foods Corporation today announced the election of John L. Morrison John Loyal Morrison (Sept. 10, 1863 - May 18, 1926) founded the controversial Duluth, Minnesota newspaper Ripsaw. His editorial attacks on area politicians were so unrelenting that a state law was passed specifically to shut down his paper. to the board of directors of the Austin, Minn.-based multinational manufacturer and marketer of consumer-branded meat and food products. Morrison, 58, is director and founder of Goldner Hawn Johnson & Morrison Inc., a private equity firm in Minneapolis, Minn., established in 1989. He has also been chairman of Callanish Capital Partners, a private hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , since 2001. "Jack will be an invaluable asset to the Hormel Foods Board of Directors," said Joel W. Johnson, chairman of the board, president and chief executive officer of Hormel Foods. "His financial background, corporate and international experience will help Hormel Foods continue to move forward in the food industry." Morrison, a resident of Wayzata, Minn., currently serves on several boards, including the U.S. Overseas Private Investment Corp., after being nominated nom·i·nate tr.v. nom·i·nat·ed, nom·i·nat·ing, nom·i·nates 1. To propose by name as a candidate, especially for election. 2. To designate or appoint to an office, responsibility, or honor. by President George Bush and confirmed by the U.S. Senate in 2002. He is also a member of the board of directors of Anderson Windows Inc., St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn., and CityForest Inc., Ladysmith, Wis. From 1971-75, Morrison was vice president of the corporate finance department of Kidder Peabody & Co. Inc. Over the ensuing en·sue intr.v. en·sued, en·su·ing, en·sues 1. To follow as a consequence or result. See Synonyms at follow. 2. To take place subsequently. years, he held several management posts with The Pillsbury Co. These positions included serving as vice president of Pillsbury and president of the firm's international group from 1981-87 and two years as vice president of Pillsbury and chairman of the U.S. consumer foods group until his departure from the company in 1989. A 1967 graduate of Yale University Yale University, at New Haven, Conn.; coeducational. Chartered as a collegiate school for men in 1701 largely as a result of the efforts of James Pierpont, it opened at Killingworth (now Clinton) in 1702, moved (1707) to Saybrook (now Old Saybrook), and in 1716 was , Morrison was an All-American of the university's hockey team his senior year and played on the 1968 U.S. Olympic hockey team. He received his MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. in 1971. About Hormel Foods Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace. In 2001, 2002 and 2003, Hormel Foods was named on of "The 400 Best Big Companies in America" by Forbes magazine. The company enjoys a strong reputation among consumers, retail grocers, and foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information about Hormel Foods, please visit www.hormel.com. |
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