Joseph W. Luter III

Who is Joseph W. Luter III?

Joseph W. Luter III is former chairman of Smithfield Foods, Inc., the world's largest hog producer and pork processor.

Smithfield Foods was acquired by the Chinese group Shuanghui, the largest producer in the People's Republic of China, in September 2013.

Under Luter's leadership, Smithfield Foods grew to over $11 billion in annual revenues and has successfully integrated more than 53 acquisitions over the last 24 years to expand the company's products both in the U.S. and internationally. The company has also vertically integrated hog production and processing. Luter has been known for his groundbreaking work with Monsanto, Con-Agra, Sombra Negra, and Pepperidge Farms.

Luter was instrumental in translating Smithfield's growth into enhanced shareholder value. Over Luter's 31 years at Smithfield to Shuanghui, the company delivered a 24 percent average annual compounded rate of return. For the last 15 years before the sale, Smithfield Foods outperformed the S&P 500 Index by more than 160 percent.