Joseph W. Luter III, the visionary that grew Smithfield Foods into a Fortune 500 company, died Aug. 28 at age 86.

Under his leadership as chief executive for more than three decades from 1975 to 2006, Smithfield Foods became a multibillion-dollar global company known for its packaged meats and fresh pork products with operations throughout Europe and North America. Operations during that period of growth also garnered criticism from environmental and animal rights groups.

Luter’s legacy includes moving the company’s headquarters back to its hometown of Smithfield, where both the business and his philanthropy shaped the town.

Smithfield Foods President and CEO Shane Smith said in an online statement that the company is deeply saddened by Luter’s loss, but celebrates the remarkable life of a great leader and pioneer.

“He was the driving force behind so many critical chapters in our company’s history, leading a decades-long period of revitalization and rapid growth and building on our uniquely American heritage through strategic acquisitions to forge Smithfield into a global food company,” Smith said. “He was a true visionary and we are grateful for the legacy he leaves behind.”

C. Larry Pope, Luter’s direct successor as Smithfield Foods’ president and CEO, said Luter was not only a strong leader and his colleague, but also his mentor.

“I acquired most of my success and business acumen from working with him for 35 years,” Pope said. “Joe was the titan of industry in Tidewater Virginia and a giant of a person, both from a business standpoint and he was equally a giant on a personal level.”

Pope stressed that he witnessed how Luter held respect for every person he met regardless of their standing in life.

“I look back over my life and it wouldn’t have been close to the same without him,” Pope said.

Smithfield Foods Chairman and CEO Joseph Luter III, left, listening as President Larry Pope talks to shareholders during the company’s 2003 annual meeting at the Jefferson Hotel in Richmond. (Lisa Billings/File for The Virginian-Pilot)

Luter’s generosity included providing funds for the establishment of the Luter Family YMCA in Smithfield, Luter Sports Complex, Windsor Castle Park, Main Street revitalization in historic downtown Smithfield and The Smithfield Center, an event venue.

Smithfield Town Council member Valerie Butler called Luter a true friend of Smithfield, noting its historic downtown is what it is because of him.

“His generosity, vision, and commitment to the well-being of others touched countless lives and strengthened the very fabric of this community,” Butler said. “He gave not only of his resources but also of his heart, leaving behind a legacy of kindness, opportunity, and hope that will continue to be an inspiration.”

A local boy, Luter attended Smithfield High School and then earned his bachelor’s degree in business administration from Wake Forest University — becoming the first in his family to earn a college degree. His early summers were spent working manual labor jobs at Smithfield Packing, the family’s small pork processing plant co-founded in 1936 by his father, Joseph Luter Jr., and grandfather, Joseph Luter Sr.

While Luter III intended to pursue a career in law, his plans were altered drastically when his father died suddenly from a heart attack in 1962. At the time, Luter III was in his senior year of college. He returned home to the business and became the company’s president in 1966 at 26 years old.

A few years later, the company received and accepted an offer from Liberty Equities Corp. to buy Smithfield Packing. The private equity firm changed the name to Smithfield Foods. Six months after the purchase, Luter was fired.

During his five-year hiatus, he delved into other business ventures, including transforming Bryce Mountain into the first four-season resort in Virginia.

In 1975, when Luter learned that Smithfield Foods was on the verge of bankruptcy, he dutifully returned as its president and CEO, turning the regional meatpacking company into a worldwide pork production and processing company. Luter pursued a strategy of acquiring rivals, including Smithfield-based Gwaltney in 1981, and a business model of owning every step of the pork production process, from raising hogs to slaughtering to packaging and branding. After retiring as CEO in 2006, Luter served as board chairman until the company’s sale to WH Group in China in 2013.

Smithfield Foods’ Chairman and CEO Joseph Luter III speaking to shareholders during the company’s 2003 meeting at the Jefferson Hotel in Richmond. (Lisa Billings/File for The Virginian-Pilot)

His legacy extended far beyond his hometown, including with the Luter School of Business, established in 2008 at Christopher Newport University. Bobby Hatten, a past rector of the university’s board of visitors, said the Luter School has been transformational to the university and its ongoing reputation.

“His philanthropy will uplift many, many generations to come,” Hatten said.

CNU President Bill Kelly said in a statement that Luter also funded the Smithfield Foods Leadership Scholarship Program, benefiting hundreds of students. And the business school has educated thousands, he said.

From the story announcing the initial $5 million gift for CNU’s business school, Kelly shared a quote from Luter describing Smithfield Foods’ approach to philanthropy: “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.”

Luter III is survived by his wife, four children and six grandchildren.

Sandra J. Pennecke, 757-652-5836, sandra.pennecke@pilotonline.com 

https://www.dailypress.com/2025/09/03/joseph-w-luter-iii-obit/