Hormel Foods Corporation Code of Ethical Business Conduct
Hormel Foods Corporation Code of Ethical Business Conduct
Hormel Foods Corporation Code of Ethical Business Conduct
Introduction
Conflict of Interest
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conflict of interest if engaged in by the employee, officer or director.
For example, any activity which would allow you, or a member of your
immediate family, to enjoy personal gain or benefit as a result of your
employment relationship with the Company would be considered a
conflict of interest.
Gifts
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Corporate Opportunities
Illegal Payments
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Illegal Political Contributions
Corporate funds and other assets shall not be used for any illegal
political contribution. This prohibition includes any political
contribution unless otherwise advised by Company counsel.
Employees are encouraged to make personal contributions to
candidates and political parties of their choice.
Proper Accounting
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describe the transactions they record. All assets, liabilities, revenues
and expenses shall be properly recorded on a timely basis in the
books of the Company.
Insider Trading
Confidential Information
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information about the Companys markets, including publicly
available information regarding competitors, employees and officers
should not seek to acquire proprietary and confidential information of
competitors by unlawful or unethical means, including information
resulting in the breach of nondisclosure obligations by competitors
employees or other third parties.
Antitrust Compliance
Activity which violates the antitrust laws of the United States, any
state thereof, or comparable laws of foreign jurisdictions, is
prohibited. Employees, officers and directors must comply with all
antitrust compliance policies adopted by the Company. Areas in
which employees, officers and directors must be sensitive to antitrust
problems include pricing, termination of existing relationships with
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customers or suppliers, the establishment of either exclusive
customers or suppliers, tie-in sales, boycotts and reciprocity.
Fair Dealing
Harassment
Safety
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Conduct which is unsafe, including possession or being under the
influence of a controlled substance on Company premises or
Company time, is prohibited.
Government Reporting
Employees, officers and directors must assure that any reports to any
listing agency, or any governmental unit or agency in the United
States or abroad, including the Securities and Exchange Commission,
and the Internal Revenue Service, made by them or under their
supervision, are honest, accurate and complete.
The Chief Executive Officer and the Chief Financial Officer of the
Company are responsible for full, fair, accurate, timely and
understandable disclosure in the periodic reports required to be filed
by the Company with the Securities and Exchange Commission. As a
result, the Chief Executive Officer and Chief Financial Officer of the
Company shall promptly bring to the attention of the Director of
Internal Audit any material information of which they become aware
that could affect the disclosures made by the Company in its public
filings. Employees, officers and directors must comply with all
government reporting and disclosure policies adopted by the
Company.
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Environmental Responsibility
All employees, officers and directors are required to comply with all
applicable federal, state and local laws and regulations relating to the
protection of the environment, as well as any requirements which
pertain to the Companys operations outside the United States.
Additionally, employees, officers and directors must comply with all
environmental policies adopted by the Company.
Product Integrity
The Companys products and their labeling must reflect the integrity
of the Company and its employees. All Company products must be
produced, labeled and handled in keeping with the Companys high
standards of sanitation, and in compliance with all Company
specifications and governmental requirements for content and
process, to produce safe and wholesome, high quality and accurately
labeled products.
Diversity
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support that commitment.
Foreign Trade
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Responsible Delegation
Disciplinary Action
While the Company relies on the voluntary compliance with this Code
by each employee, officer and director as a matter of personal
integrity, disciplinary action will be taken in appropriate instances.
Such instances include: actions which violate this Code; withholding
information regarding violations; supervision which is inadequate to
the point of evidencing a negligent or willful disregard for this Code in
connection with a violation; and any form of retaliation against an
employee reporting a violation. Disciplinary action may include
suspension, termination, recovery of damages, or criminal
prosecution.
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Board of Directors, any employee, officer or director who observes or
otherwise becomes aware of any illegal, unethical behavior, or any
violation of the Code shall report the violation to a supervisor, the
General Counsel, or the Director of Internal Audit, or he or she may
report the matter to any member of the Audit Committee of the Board
of Directors. Additionally, employees, officers and directors may
report any violation, or suspected violation, of the Code, including
concerns regarding questionable accounting or auditing matters, by
using the anonymous "Hot Line" established for this purpose. The
telephone number for this Hot Line is:
1-800-750-4972.
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be given for matters where appropriate. Any waivers for executive
officers and directors must be approved, in advance, by the Board of
Directors, and will be promptly disclosed as required by law or stock
exchange regulation.
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