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Luter, chairman and chief executive officer of Smithfield Foods, Inc., has established the Smithfield-Luter Foundation, Inc. to fund educational grants to colleges and universities for undergraduate scholarships. Luter personally funded the foundation with an initial grant of $5 million.
"I have always felt strongly about the importance of contributing to the community and to the people with whom we come into contact every day," said Joseph W. Luter, III. "With operations primarily in small towns and rural communities across America -- and now, across the world -- I have always encouraged Smithfield Foods, Inc. and its subsidiaries to focus on helping their local communities in a direct way."
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