2. Dole Financial Highlights
2003 2002 2001 2000 1999
(in millions)
Revenues, net $ 4,773 $ 4,392 $ 4,314 $ 4,400 $ 4,449
Gross Margin 659 695 430 469 452
Cash Flow from Operating Activities
of Continuing Operations 339 227 244 121 49
Total Assets 3,988 3,037 2,768 2,801 2,994
Working Capital 279 715 586 377 393
Capitalization
Short-term debt 47 243 27 45 38
Long-term debt 1,804 882 816 1,135 1,285
Total shareholders’ equity 456 745 736 555 532
Total capitalization $ 2,307 $ 1,870 $ 1,579 $ 1,735 $ 1,855
NOTE: In 2003, Dole completed a going-private transaction. Financial results for 2003 prior to the going-private merger transaction (“Predecessor”
presentation) have been combined with the financial results after the going-private merger transaction (“Successor” presentation) to facilitate an
understanding of Dole results. In 2001, Dole divested its Honduran Beverage operations. Operating results of this business have been accounted for
as a discontinued operation.
4,449 4,400 4,314 4,392 4,773 452 469 430 695 659 49 121 244 227 339 1,855 1,735 1,579 1,870 2,307
’99 ’00 ’01 ’02 ’03 ’99 ’00 ’01 ’02 ’03 ’99 ’00 ’01 ’02 ’03 ’99 ’00 ’01 ’02 ’03
Cash Flow from
Revenues, net Gross Margin Total Capitalization
Operating Activities
(in $ millions) (in $ millions) (in $ millions)
of Continuing Operations
( in $ millions)
3. A M e s s ag e Fro m
Mr. David H. Murdock
In just one year as a private company,
Dole is meeting and surpassing expecta-
tions of reaching higher earnings and
growth potential. The Company has
2003 was a banner year. It began with the expanded with increased sales of nearly
nine percent, as well as increased earnings
completion of the going-private transaction in from operations of approximately 18
percent. In 2003, subsequent to the
David H. Murdock
March. This transaction marked a turning going-private transaction, the Company
Chairman and Chief
Executive Officer repaid over $200 million in bank debt.
point in Dole’s 152-year history, opening up
Dole’s management continues to follow very similar procedures
long-term opportunities while minimizing the and policies, though with management changes indicative of
Dole’s strong management base. Richard J. Dahl was promoted
short-term pressures of the public equities market.
to President and Chief Operating Officer. Other recently-
announced promotions from senior and middle management
include the appointment of Joseph S. Tesoriero as Vice President
and Chief Financial Officer; C. Michael Carter to Executive Vice
President, General Counsel and Corporate Secretary; Scott A.
Griswold to Executive Vice President, Corporate Development;
Roberta Wieman to Executive Vice President, Chief of Staff;
Sue Hagen to Senior Vice President, Human Resources, and
Javier H. Idrovo to Senior Vice President, Strategy. Dr. Andrew J.
Conrad, co-founder and chief scientific officer of the National
Genetics Institute, a subsidiary of Laboratory Corporation of
America, joined Dole’s Board of Directors.
The Dole Nutrition Institute’s first year has been full of exciting
new initiatives aimed at educating the public about the health
benefits of fruits and vegetables. Every day, headlines prove
the timeliness of this message. Obesity in America and
around the world continues to reach crisis proportions. Poor
DOLE ® Fresh-Cut Pineapple Chunks
Dole’s 16 oz. Pineapple Chunks were intro-
duced in early 2004 as part of a full line of
fresh-cut fruit offerings. Specially cultivated
to produce an extra sweet, juicy flavor,
Tropical Gold ® pineapple delivers the taste
consumers prefer from a brand they trust. Fresh-cut fruit is an
emerging category that capitalizes on consumers’ demand for
products offering wholesome nutrition in convenient formats.
1
4. Dole Food Company, Inc. Board of Directors
(Seated, left to right): David H. Murdock, Richard M. Ferry, Andrew J. Conrad, Ph.D.
(Standing, left to right): David A. DeLorenzo, C. Michael Carter, Justin M. Murdock, Scott A. Griswold,
Richard J. Dahl, David H. Murdock, Jr., Edward C. Roohan, Roberta Wieman
diet and inactivity is on the verge of surpassing tobacco as the brochures, website, and published articles. The Institute’s
leading cause of preventable death, according to a watershed innovative employee wellness program has helped many
report released by the Centers for Disease Control. Excess employees to lose weight, improve fitness, lower cholesterol
weight and lack of exercise now contributes to 400,000 deaths and improve health—while helping Dole to lead by example
a year—representing an increase of 33% over the past decade. as an advocate for better diet and daily exercise.
In order to help combat these unhealthy trends, the Dole
As part of the wellness program, a “model café” was created
Nutrition Institute is bringing the most definitive nutritional
with the total revamping of the menu in Dole’s corporate
information to thousands of consumers through its newsletter,
employees’ dining facilities, encompassing a near total
elimination of saturated fat, junk foods, sugar sodas, etc. and
DOLE ® Spring Mix Salad Blend including the addition of a fresh juice and smoothie bar, the
expansion of fish and vegetarian selections, and a “Daily
Launched in early 2004 as part of a new
Dole” special, low in calories and fat.
line of clamshell packaged salad blends,
DOLE 7 oz. Spring Mix Salad Blend offers
The Company continues its investment in deep plowing as
a convenient new twist on already popular
part of its commitment to sustainable agriculture and better
salad blends. Packaged in clear, reusable
nutrition. Now in its eleventh year, the practice of deep
plastic clamshell containers, this product
plowing rejuvenates the soil, reaching up to three feet deep,
combines great taste, versatility and value. Other blends
while conventional plowing merely turns the topsoil. By this
available in clamshell packaging include Baby Spinach and
process, Dole was able to eliminate most banana pests
Baby Romaine.
(known as nematodes), producing taller, healthier plants
with greater yields.
2
5. (Left to right): Robert Slavin, Mayor, Westlake Village; Dr. Andrew J. Conrad; David H. Murdock; California Governor Arnold Schwarzenegger; Leonard D.
Schaeffer, Chairman and Chief Executive Officer, WellPoint Health Networks, Inc.; Denny Weinberg, Executive Vice President, WellPoint Health Networks, Inc.
Governor Schwarzenegger said: “This is going to be an
The most important ground broken this year was that of the
extraordinary center. I’ve seen the plans. It’s absolutely
new Dole Wellness Center, Spa and Hotel. On March 12,
remarkable...this is going to be one of those places the rest of
2004, California Governor Arnold Schwarzenegger joined in
the world will know.” The groundbreaking was one of the
a groundbreaking ceremony for an over 700,000 square-foot
most exciting days of my life. I look forward to the completion
complex to comprise medical facilities with physicians
of construction of the complex in March 2006.
on-site providing state-of-the-art diagnostic services; a
267-room five-star hotel to be operated by a first class hotel
The achievements of this past year are a reflection of the
and resort company; a full-service spa and fitness center; a
incredible dedication, creativity, and teamwork of everyone
conference center and an ultra-modern TV production facility
at Dole Food Company. I am extremely proud of the men
focusing on health and wellbeing programming; and an
and women that have made this year of new beginnings
interactive wellbeing center to be developed in partnership
possible. They have my sincerest thanks and my confidence,
with a prominent health plan manager.
as we move forward to cultivating these beginnings and
watch them bear fruit.
This new health and nutrition center, to be built adjacent to
Dole’s World Headquarters in Westlake Village, California,
Sincerely,
is a natural extension of Dole’s goal to provide people with
not just the knowledge but the tools and treatments to fight
disease and upgrade their quality of life. Visitors will be
empowered not just to learn but to live fuller, longer, more
vibrant lives. David H. Murdock
Chairman and Chief Executive Officer
3
6. The Dole Wellness Center,
Spa and Hotel
This health and beauty destination is the brainchild of
Dole Food Company, Inc. Chairman and CEO, David
H. Murdock. His holistic vision of human potential and
longer life through better nutrition and fitness was the
On March 12, 2004, ground was broken for
foundation for establishing the Dole Nutrition Institute,
dedicated to nutrition education and disease prevention.
a premiere wellness center, medical spa and
The new complex will be located 30 miles northwest of
luxury hotel to be built amid beautifully
Los Angeles across from the Dole World Headquarters in
landscaped gardens spanning the 20 acres Westlake Village. Construction of the complex began in
March 2004 and it is anticipated that construction will be
directly across from Dole Food Company, Inc. completed in March 2006. The handsome, six-story, brick
and glass contemporary design was conceived by renowned
World Headquarters.
architect Arnold Savrann. Ten acres of elegantly landscaped
walking and running paths will wind through ponds, fountains,
waterfalls and theme gardens.
4
7. Hotel & Conference Center
The luxury hotel will have a grand ballroom capable of
accommodating 350 guests, a conference center and business
center. Dining options will include a sushi restaurant and
spa café.
A unique outdoor function area is planned with nearby luxuri-
ous gardens and waterfalls. There will be walking/jogging paths
on the ten acres of open land surrounding the new complex.
Medi-Spa
The health and beauty spa will feature over two dozen
treatment rooms, each complemented with private outdoor
gardens and spa bath amenities. Hydrotherapy pools, Vichy
showers, steam rooms, watsu pools and dry saunas are among
the amenities that will provide visitors with a relaxing, state-
of-the-art spa experience where they will be attended to by
experienced and skilled aestheticians and therapists.
A full-service beauty salon will be integrated into the spa,
with top stylists offering a modern approach to beauty, hair,
nails and makeup.
Medical Facility
A major component of the new development will be a
medical facility with physicians on staff to provide diagnostic
services. Fully integrated into the wellness complex and spa,
the facility will offer guests an opportunity to learn what
dietary and behavioral changes can help them ward off the
DNA damage that increases the risk of cancer and other
chronic diseases.
Medical staff will include a team of physicians board-certified
in their respective disciplines. This facility will contain a
complete diagnostic and imaging suite including MRI,
Did you know?
• Broccoli was brought to the United States
in the early 1900’s by Italian immigrants
to northern California. Broccoli is high in
vitamins A and C and contains phytochem-
icals that may help prevent cancer.
• The winner of an athletic event in ancient Greece was given
a bunch of celery, much like flowers are given today. Celery is
a great source of potassium and fiber.
5
8. The clinic will be supported by a research and scientific
program that includes a proprietary test that can assay the
rate at which DNA damage is occurring within an individual.
The complex will consist of a 267-room five-star This test will then serve as an objective benchmark to determine
the efficacy of antioxidants included in the Dole Scale nutrition
hotel to be operated by a first class hotel and resort program being advocated at the clinic.
company, a full-service luxury spa and fitness
Health & Wellbeing Center
facility, a comprehensive medical clinic and It is envisioned that a unique center will be created within
the overall complex where guests and visitors can access
diagnostic facility, a wellness center, as well as a interactive technology and support services to monitor and
improve their health.
television studio with full production capability.
A serene environment will encourage browsing in the well-
being exhibit gallery or in a variety of wellbeing retail stores
or taking a refreshing break at the healthy juice and snack bar.
Personal health coaches will serve as guides to exploring
CT scan and other body-scan imaging equipment, X-Ray various self-improvement programs and vacations.
and ultrasound capabilities, a full medical laboratory, exam
Combined with the medical, diagnostic and personal care
suites, and an endoscopy suite. In addition, there will be
services in other parts of the complex, a proprietary Wellbeing
related health care professionals, such as physical
Index will be used to assess health and wellness through both
therapists and dieticians, on staff.
6
9. body measures and self-reporting. The resulting Wellbeing Index Television Studio
score, targeting what the center calls the four pillars of wellbeing, A state-of-the-art television production studio will develop and
identifies a baseline measurement for each enrolled guest. offer programs that emphasize the importance of healthful
eating and the role that good food, nutrition, and exercise play
Using this baseline diagnosis, wellbeing center personal
in living a long, healthy and productive life. Programs designed
health coaches will suggest a program of life changes to
to promote health and longevity will be created for guests to
promote happiness, health and longevity. The areas of focus
follow during and after their visits to the center.
include food and nutrition, physical fitness, recreation,
physical and emotional health and the latest in what science,
Conclusion
technology, communications and personal care can offer.
David H. Murdock, Chairman and CEO of Dole stated:
“It has long been my belief that Dole can play a crucial role
in helping consumers eat healthier and thus lead longer,
Did you know?
healthier and more vital lives. This new complex is an example
• One-quarter of a medium cantaloupe
of Dole’s commitment to this goal.”
provides more than 400 percent of your
daily vitamin A and nearly 100 percent of
In addition to the wellness center in Westlake Village, it is
your daily vitamin C.
anticipated that wellness centers will be developed at the
• Most of the United States’ domestic
Manele Bay Hotel and the Lodge at Koele on the Island of
supplies of artichokes are grown in the midcoast region of
Lana‘i, Hawaii. The Manele Bay Hotel, the Lodge at Koele
California. Artichokes are high in Vitamin C and fiber and
and the Wellness Center in Westlake Village are owned by an
are a good source of folate.
affiliate of Dole.
7
10. The Dole Nutrition Institute
Here is a look back at the year’s accomplishments, and a look
The Dole Nutrition Institute had a fruitful first
forward to future plans:
year, bringing to life new projects designed to
Dole Nutrition News: Launching an electronic newsletter
educate the public about the role of proper featuring the “Dole Diet Center”, “Nutrition News Desk”,
“Director’s Corner”, “Featured Recipe”, and the “Dole Spa”.
nutrition in promoting health and preventing
“Partners in Health” Pamphlet Series and Healthy Snack
disease. In particular, our efforts have focused Magnet: Publishing the first five brochures in a series
of seven ultimately to include: #1 Weight Loss, #2 Heart
on researching and communicating the unique
Health, #3 Diabetes, #4 Kids’ Health, #5 Carb Confusion,
potential of a plant-based diet to aid weight #6 Women’s Health, #7 Dole Spa and others.
Dole Employee Wellness Program: Implementing an
loss, lower cholesterol and reduce the risk of
innovative wellness program for Dole headquarters
certain types of cancer, cardiovascular disease employees. A 60-member study group was established
to measure the program’s health impact.
and other chronic diseases.
Nutrition Sales and Marketing Conference: Teaching Dole
sales representatives how integrating nutrition into marketing
is an effective strategy.
Nutrition Literacy Survey: Polling 6,232 grade school
children to ascertain their level of nutrition know-how,
revealing confusion about obesity and its impact on health.
FDA Health Claim Advertisement: Promoting the Food and
Drug Administration’s newly-approved health claim with half-
page advertisements that ran in major newspapers nationwide.
Research Laboratory: Employing a manager for the Dole
Nutrition Research Laboratory and conducting phytochemical
analyses of produce.
Dole Nutrition Institute Website: Including Food Facts A-Z, 365
Days of Nutrition, Dole Spa, a Nutrition Quiz, and much more.
Looking ahead, the Institute plans on expanding the Dole
Nutrition News, expanding the Dole Nutrition Institute
website, launching a fresh fruit recipe contest and creating a
produce training video for retailers.
Jennifer A. Grossman, Vice President
Director, Dole Nutrition Institute
8
11. Dole Worldwide Product List
Dole Plastic Jar – Mandarins
Dole Fruit Bowls – Pears
Dole Shredded Lettuce
Dole Fresh Vegetables
Dole Plastic Jar – Mixed Fruit
Dole Fruit Bowls – Mixed Fruit
Dole Shredded Red Cabbage
Dole Artichokes
Dole Plastic Jar – Pineapple
Dole Fruit Bowls – Pineapple
Dole Spinach
Dole Asparagus
Chunks
Dole Fruit Bowls – Tropical Fruit
Dole Broccoli
Dole Plastic Jar – Sliced Peaches
Dole Fruit Bowls – Mandarin
Dole Brussels Sprouts Dole Fresh Fruit
Dole Plastic Jar – Tropical Fruit
Oranges
Dole Butter Lettuce Dole Apples
Dole Pouch – Pineapple Tidbits
Dole Fruit Bowls – Mixed Fruit
Dole Carrots Dole Apricots
in Syrup
in Black Cherry Gel
Dole Cauliflower Dole Avocados
Dole Pouch – Tropical Fruit
Dole Fruit Bowls –
Dole Celery Dole Baby Bananas
Salad
Pineapple in Lime Gel
Dole Cilantro Dole Bananas
Dole Rambutan in Syrup
Dole Fruit Bowls –
Dole Green Leaf Lettuce Dole Banana Puree
Dole Rambutan Snack Cup
Mandarins in Orange Gel
Dole Fresh Bulb Onions – Dole Cantaloupes
Dole Red Papaya
Dole Fruit Bowls –
yellow, red and white Dole Cherries
Chunks in Light Syrup
Peaches in Strawberry Gel
Dole Green Onions Dole Chayote
Dole Tomato Sauce
Dole Reduced Sugar Fruit Bowls
Dole Sweet Onions Dole Clementines
Dole Tropical Fruit Cocktail
– Pears in Kiwiberry Gel
Dole Iceberg Lettuce Dole Coconuts
in Juice and Syrup
Dole Fruit Festival Snack Cup
Dole Idaho Potatoes Dole Cranberries
Dole Tropical Fruit Cocktail in
Dole Fruit Salad with Extra
Dole Portobello Mushrooms Dole Grapefruit
Syrup with Passion Fruit Juice
Cherries, Plastic Cup
Dole Radishes Dole Grapes
Dole Tropical Fruit Juice Box
Dole Guava Halves
Dole Red Leaf Lettuce Dole Honeydew Melons
Dole Tropical Fruit Salad
Dole Guava in Syrup
Dole Red Potatoes Dole Kiwis
Dole Tropical Fruit Salad –
Dole Longans in Syrup
Dole Romaine Lettuce Dole Malange (root)
Easy Open
Dole Longans Snack Cup
Dole Russet Potatoes Dole Mangoes
Dole Tropical Pineapple Juice
Dole Lychees in Syrup
Dole Shiitake Mushrooms Dole Nectarines
Blend
Dole Mandarin Orange
Dole Sugar Peas Dole Oranges
Dole White Asparagus
Fruit Cups
Dole White Mushrooms Dole Organic Bananas
Dole Yellow Papaya Chunks
Dole Mandarin Oranges
Dole White Potatoes Dole Organic Pineapples
in Syrup
Dole Mandarin Orange
Dole Yukon Gold Potatoes Dole Papayas
Seasons™ Pineapple Juice
Segments Easy Open
Dole Peaches
Seasons Tropical Fruit Mix
Dole Mango Slices
Dole Fresh-Cut Vegetables Dole Pears
in Blended Juice or Syrup
Dole American Salad Blend Dole Pineapples
Dole Mushrooms Dole Fresh Flowers
Dole Baby Spinach Salad Blend Dole Plantains
Dole Nata de Coco in Syrup Alstroemeria
Dole Baby Spinach Dole Plums
Dole Nata de Coco with Aster Butterfly
and Red Leaf Salad Blend Dole Pomegranates
Jackfruit Snack Cup Aster Matsumoto
Dole Baby Spinach Dole Premium Select® Pineapple
Dole Peach Halves in Syrup Aster Montecasino
and Radicchio Salad Blend Dole Red Bananas
Dole Pineapple Concentrate Bupleurum
Dole Butter Lettuce Salad Blend Dole Strawberries
Dole Pineapple Cubes in Syrup Campanulas
Dole European Salad Blend Dole Sweetio® Bananas
Dole Pineapple Grapefruit Carnations
Dole Field Greens Salad Blend Dole Sweetio™ Pineapple
Juice Drink Chinese Carnations
Dole French Salad Blend Dole Tropical Gold® Pineapple
Dole Pineapple Juice Cremons
Dole Hearts of Romaine Mix Dole Yuca
Dole Pineapple Juice Box Delphinium
Salad Blend
Dole Frozen Pineapple Juice Farm Bouquets
Dole Italian Salad Blend Dole Fresh-Cut Fruit
Dole Pineapple Juice Drink Football Mums
Dole Mediterranean Blend Dole Fresh-Cut Cantaloupe
Dole Pineapple Freesia
Dole Spring Mix Salad Blend Dole Fresh-Cut Fruit Mix
Lychee Juice Drink Gerbera
Dole Very Veggie® Salad Blend Dole Fresh-Cut Honeydew Melon
Dole Pineapple Mandarin Gerspider
Dole Caesar Salad Kit Dole Fresh-Cut Melon Mix
Orange Banana Juice Gypsophila
Dole Creamy Garlic Dole Fresh-Cut Papaya Halves
Dole Pineapple Orange Juice Kangaroo Paws
Caesar Salad Kit Dole Fresh-Cut Pineapple Chunks
Dole Pineapple Limonium
Dole Light Caesar Salad Kit Dole Fresh-Cut Pineapple
Orange Juice Box Lisianthus
Dole Romano Salad Kit Cored & Peeled
Dole Pineapple Micro Pompons
Dole Sunflower Ranch Salad Kit Dole Fresh-Cut Pineapple
Orange Juice Drink Million Stars Gypsophila
Dole Angel Hair Cole Slaw Cylinders
Dole Pineapple Orange Miniature Carnations
Dole Classic Cole Slaw Dole Fresh-Cut Pineapple Rings
Banana Juice Box Monk’s Hood
Dole Chopped Romaine Salad Dole Fresh-Cut Pineapple Spears
Dole Pineapple Orange Mums
Dole Classic Iceberg Salad Dole Fresh-Cut Tropical Fruit Mix
Raspberry Juice Box Pompons
Dole Classic Romaine Salad Dole Fresh-Cut Watermelon
Dole Pineapple Passion Roses (Hybrid tea)
Dole Greener Selection® Salad
Banana Juice Box Rover Mums – Fall only
Dole Just Lettuce® Salad Dole Packaged Foods
Dole Pineapple Orange Snapdragons
Dole Organic Baby Lettuces Dole Aloe Vera (Solid)
Strawberry Juice Solidago
Dole Organic Baby Spinach Dole Crushed Pineapple in Juice
Dole Pineapple Slices Spider Mums
Dole Organic Romaine Hearts or Syrup
in Juice or Syrup Spray Roses
and Radicchio Dole Deciduous Fruit
Dole Pineapple Snack Cup Statice
Dole Organic Spring Mix Cocktail in Juice or Syrup
Dole Pineapple Snack Stock
with Herbs Dole Fruit Bowls® –
Wedges Easy Open Sunflowers
Dole Baby Romaine Cherry Mixed Fruit
Dole Pineapple Strawberry Sweetheart Roses
Dole Leafy Romaine Dole Fruit Bowls – Fruit Salad
Juice Drink
Dole Peeled Mini-Carrots with Extra Cherries
Dole Pineapple Tidbits for Pizza
Dole Shredded Carrots Dole Fruit Bowls – Peaches
Dole Pineapple Tidbits in Juice
9
12. Dole Worldwide Operations
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▲
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▲ ▲
◆
▲
▲
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Sourcing
■
Ripening/Distribution
▲
Markets
●
Corporate
◆
Food Operating Divisions
Europe and Africa
Belgium • Cameroon • Canary Islands • France • Germany • Ghana • Greece • Italy • Ivory Coast • Kenya • Morocco
Namibia • Netherlands • South Africa • Spain • Sweden • Turkey • United Kingdom • Zimbabwe
Latin America and Caribbean
Bermuda • Chile • Colombia • Costa Rica • Dominican Republic • Ecuador • Guadeloupe
Guatemala • Honduras • Jamaica • Martinique • Mexico • Peru
Asia
China • Hong Kong • Japan • New Zealand • Philippines • South Korea • Thailand
North America
Canada • United States: Arizona, California, Florida, Hawaii, Ohio, Washington
Food Marketing Divisions
Europe and Middle East
Albania • Algeria • Austria • Azerbaijan • Bahrain • Belarus • Belgium • Bosnia • Bulgaria • Croatia • Czech Republic
Denmark • Estonia • Egypt • Finland • France • Georgia • Germany • Greece • Hungary • Iceland • India • Ireland • Israel
Italy • Jordan • Kazakhstan • Kuwait • Latvia • Lebanon • Lithuania • Luxembourg • Macedonia • Malta • Morocco • Netherlands • Norway
Oman • Poland • Portugal • Qatar • Romania • Russia • Saudi Arabia • Senegal • Slovakia • Slovenia • Spain • Sweden • Switzerland
Tajikistan • Tunisia • Turkey • Ukraine • United Arab Emirates • United Kingdom • Uzbekistan
Latin America and Caribbean
Argentina • Chile • Colombia • Costa Rica • Dominican Republic • Ecuador • Guatemala • Honduras
Mexico • Peru • Puerto Rico • Uruguay
Asia
China • Hong Kong • Japan • New Zealand • Philippines • Singapore • South Korea • Thailand
North America
Canada • United States
10
14. Introduction products are produced both directly on Dole-owned or leased
land and through associated producer and independent
Dole Food Company, Inc. was founded in Hawaii in 1851 and
grower arrangements under which we provide varying
was incorporated under the laws of Hawaii in 1894. Dole
degrees of farming, harvesting, packing, storing, shipping,
reincorporated as a Delaware corporation in July 2001.
stevedoring and marketing services.
During fiscal year 2003, we had, on average, 36,000 full-time
permanent employees and 23,000 full-time seasonal or
Industry
temporary employees worldwide. Dole is the world’s largest
producer and marketer of high-quality fresh fruit, fresh The worldwide fresh produce industry is characterized by
vegetables and fresh-cut flowers, markets a growing line consistent underlying demand and favorable growth dynamics.
of packaged and frozen foods and is a produce industry In recent years, the market for fresh produce has grown at a
leader in nutrition education and research. Dole is a rate above population growth, supported by ongoing trends
leading producer and marketer of branded and non-branded including greater consumer demand for healthy, fresh and
frozen fruit. convenient foods, increased retailer square footage devoted
to produce, and increased emphasis on fresh produce as a
Overview differentiating factor in attracting customers. According to
the United Nations’ Food and Agriculture Organization,
Dole is the world’s largest producer of fresh fruit, fresh
worldwide produce production grew 3.6% per annum from
vegetables and fresh-cut flowers, and we market a growing
814 million metric tons in 1990 to an estimated 1,244 million
line of value-added products. We are one of the world’s
in 2002. Total wholesale fresh produce sales in the United
largest producers of bananas and pineapples, a leading
States surpassed $80 billion in 2001, up from approximately
marketer of table grapes and citrus worldwide and an industry
$35 billion in 1987, representing a 6.1% compounded annual
leader in packaged and frozen food products, ready-to-eat
growth rate.
salads and vegetables. Our most significant products hold
the number one or number two positions in the respective
Health conscious consumers are driving much of the growth
markets in which we compete.
in demand for fresh produce. Over the past 20 years, the
benefits of natural, preservative-free foods have become an
We utilize product quality, food safety, brand recognition,
increasingly prominent element of the public dialogue on
competitive pricing, customer service and consumer marketing
health and nutrition. As a result, consumption of fresh fruit
programs to enhance our position within the food industry.
and vegetables has increased markedly. According to the
Dole provides wholesale, retail and institutional customers
United States Department of Agriculture (“USDA”),
around the world with high-quality food products that bear
Americans consumed 54 more pounds of fresh fruit and veg-
the DOLE® trademarks. The DOLE brand was introduced in
etables per capita in 2000 than they did in 1986. Time-starved
1933, and we believe it is one of the most recognized for fresh
consumers are also demonstrating continued demand for
and packaged produce in the United States, as evidenced by
convenient, ready-to-eat products. Food manufacturers have
our 42% unaided consumer brand awareness — twice that of
responded with new product introductions and packaging
our nearest competitor, according to C.A. Walker and
innovations in segments such as bagged baby carrots and
Associates. Consumer and institutional recognition of the
ready-to-eat salads, contributing to industry growth. For
DOLE trademarks and related brands and the association of
example, the US market for fresh-cut produce has increased
these brands with high-quality food products contribute signif-
from an estimated $3 billion in 1994 to an estimated $11
icantly to our leading positions in the markets that we serve.
billion in 2000. According to the International Fresh-cut
Produce Association, growth in the fresh-cut produce market
We source or sell over 200 products in more than 90 countries.
is forecasted to continue at a compound annual rate of 6.4%,
Our fully-integrated operations include sourcing, growing,
reaching approximately $15 billion by 2005.
processing, distributing and marketing our products. Our
12
15. Retail consolidation and the growing importance of food to significantly to our leading positions in each of the markets
mass merchandisers are major factors affecting the food that we serve. By implementing a global marketing program,
manufacturing and fresh produce industries. As food retailers we have made the distinctive red “DOLE” letters and sun-
have grown and expanded, they have sought to increase burst a familiar symbol of freshness and quality recognized
profitability through value-added product offerings and in- around the world. We believe that opportunities exist to
store services. As fresh produce has become a strategic focus, leverage the DOLE brand through product extensions and
retailers have expanded square footage dedicated to produce new product introductions.
departments by almost 7% per annum between 1994 and
• Low-Cost Production Capabilities. We believe we are one of
1999. This development has led to an increase in produce
the lowest-cost producers of many of our major product
sales as a percentage of total supermarket sales, from 8.8% in
lines, including bananas, North American fresh vegetables
1987 to 9.8% in 2001, according to the Food Marketing
and ready-to-eat salads and packaged fruit products. Over
Institute. The fresh produce category is also attractive to
the last several years, we have undertaken various initiatives
retailers due to its higher margins. According to the USDA’s
to achieve this low-cost position, including closing facilities,
Agriculture Information Bulletin No. 758, gross margins for
centralizing our raw material purchasing and leveraging our
the produce department were 33% compared to a 26%
global logistics infrastructure more efficiently. We plan to
average for the entire store in 1997. Fully-integrated produce
maintain these low-cost positions through a continued focus
companies, such as Dole, are well positioned to meet the
on operating efficiency.
needs of large retailers through the delivery of consistent,
high-quality produce, reliable service, competitive pricing
• State-of-the-Art Infrastructure. We have made significant
and innovative products. Established produce companies
investments in our production, processing, transportation
have sought to strengthen relationships with leading retailers
and distribution infrastructure with the goal of efficiently
through value-added services such as banana ripening and
delivering the highest quality and freshest product to our
distribution, category management, branding initiatives and
customers. We own or lease approximately 120,000 acres of
establishment of long-term supply agreements.
land worldwide, over 50 processing, ripening and distribution
centers, and the largest dedicated refrigerated containerized
Competitive Strengths shipping fleet in the world, comprising 21 ships and
approximately 10,800 refrigerated containers. The investments
Our competitive strengths have contributed to our strong
in our infrastructure should allow for continued growth
historical operating performance and should enable us to
without the need for sizable capital expenditures in the
capitalize on future growth opportunities:
near term. In addition, our market-leading logistics and
• Market Share Leader. Our most significant products hold distribution capabilities allow us to act as a preferred fresh
the number one or number two positions in the respective and packaged food provider to leading global supermarkets
markets in which we compete. We maintain number one and mass merchandisers.
market share positions in global bananas, winter fruits
• Diversity of Sourcing Locations. Dole currently sources its
exported from Chile, and in North American iceberg lettuce,
fresh fruits, vegetables and fresh-cut flowers in 28 countries
celery, cauliflower, ready-to-eat salads and packaged fruit
and distributes products in more than 90 countries. We are
products, including our line of fruit cups called FRUIT
not dependent on any one country for the sourcing of any of
BOWLS® and FRUIT-N-GEL BOWLS™. In addition, we
our products. The largest concentration of production is in
believe that we are the only fully-integrated fresh-cut flower
Ecuador, where we sourced approximately one-third of our
and bouquet supplier of our size in North America.
Latin bananas in 2003. The diversity of our production
• Strong Global Brand. Consumer and institutional recognition sources reduces our risk from exposure to natural disasters
of the DOLE trademark and related brands and the association and political disruptions in any one particular country.
of these brands with high-quality food products contribute
13
16. • Experienced Management Team. Our management team has primarily to North America and Europe on our refrigerated,
a demonstrated history of delivering strong operating results containerized shipping fleet. In Asia, we source our bananas
through disciplined execution. The current management team primarily in the Philippines.
has been instrumental in our continuing drive to transform Dole
Consistent with our strategy to focus on value-added
from a production driven company into a marketing driven one.
products, we have continued to expand our focus on higher
In addition, the management team led our recent company-wide
margin, niche bananas. While the traditional “green” bananas
restructuring and improvement initiatives.
still comprise the majority of our banana sales, we have
successfully introduced niche bananas such as organic, low
Business Segments chemical and sweet bananas. We have found that organic
Dole has four primary business segments: fresh fruit, fresh produce is a growing category in North America and Europe
vegetables, packaged foods, and fresh-cut flowers. The fresh and there is a strong demand for low chemical and sweet
fruit segment contains several operating units that bananas in Asia.
produce and market fresh fruit to wholesale, retail and
institutional customers worldwide. The fresh vegetables
Fresh Pineapples
segment contains several operating units that produce and
We are the number two global producer of fresh pineapples,
market commodity vegetables and ready-to-eat packaged
growing and selling more than 20 million boxes annually. We
vegetables to wholesale, retail and institutional customers
sell our pineapples globally and source them from company-
primarily in North America, Europe and Asia. The packaged
operated farms and independent growers in Latin America,
foods segment contains several operating units that
Hawaii, the Philippines and Thailand. We produce and sell
produce and market packaged foods, including fruit, juices,
two principal varieties of pineapples: the Champaka (or
snack foods and frozen food. Our fresh-cut flowers segment
green) pineapple and the sweet yellow pineapple. The
sources, imports and markets fresh-cut flowers, grown mainly
Champaka pineapple, traditionally the most widely available
in Colombia and Ecuador, primarily to wholesale florists and
type of pineapple, is primarily sold to the foodservice sector
retail grocers in the United States.
and is also used in our packaged products. The sweet yellow
pineapple was introduced in 1999 under the DOLE
Fresh Fruit PREMIUM SELECT® label; we also market a substantial
Our fresh fruit business segment has four primary operating portion of the fruit under the DOLE TROPICAL GOLD®
units: bananas, fresh pineapple, European Ripening & label. The sweet yellow pineapple sells for a higher price than
Distribution and Dole Chile. We believe that we are the the Champaka, which translates into a higher margin for us
industry leader in growing, sourcing, shipping and distributing and our customers.
consistently high-quality fresh fruit.
European Ripening & Distribution
Bananas Our European Ripening & Distribution business distributes
Dole is the world’s largest producer of bananas, growing and DOLE and non-DOLE branded fresh produce in Europe.
selling more than 120 million boxes of bananas annually. We This business operates approximately 48 sales and distribution
sell most of our bananas under the DOLE brand. We primarily centers in nine countries, predominantly in Western Europe.
sell bananas to customers in North America, Europe and Asia. This business assists us in firmly establishing customer
We are the number one brand of bananas in both North relationships in Europe. We own 60% of Scandinavia’s
America and Japan and the number two brand in Europe. In leading importer and distributor of fruit, vegetables and
Latin America, our bananas are primarily sourced in flowers, with imports from more than 60 countries.
Honduras, Costa Rica, Ecuador, Colombia, Guatemala and
Peru. Bananas produced by us in Latin America are shipped
14
17. Dole Chile plastic cups and pouches. All of our significant packaged
food products hold the number one market position in
We began our Chilean operations in 1982 and have grown to
North America.
become the largest exporter of Chilean fruit. We export
grapes, apples, pears, stone fruit (e.g., peaches and plums)
Our FRUIT BOWLS products were introduced in 1998 and
and kiwifruit. The weather and geographic features of Chile
continue to exceed our volume and share expectations. The
are similar to those of the Western United States, with
trend towards convenience and healthy snacking has been
opposite seasons. Accordingly, Chile’s harvest is counter-
responsible for the explosive growth in the plastic fruit cup
seasonal to that in the Northern Hemisphere, offsetting the
category, which is now larger than the applesauce cup and
seasonality in our other fresh fruit. We primarily export
gelatin cup categories.
Chilean fruit to North America, Latin America and Europe.
Dole recently completed the acquisition of J.R. Wood, Inc.,
a leading producer and marketer of branded, foodservice,
Fresh Vegetables
industrial and non-branded frozen food products.
Our fresh vegetables business segment operates two units:
commodity and value-added. We source our fresh vegetables
Fresh-Cut Flowers
from company-owned and contracted farms. To satisfy the
increasing demand for our products, we have continued to We entered the fresh-cut flowers business in 1998 and are
expand production and distribution capabilities of our fresh now the largest producer of fresh flowers in Latin America
vegetables segment. We have recently completed expansion with over 90% of our Latin American flowers shipped into
projects at our Springfield, Ohio and Yuma, Arizona ready- North America. Our products include over 800 varieties of
to-eat salad and vegetable facilities. fresh-cut flowers such as roses, carnations and Alstroemeria.
We are the only flower importer with guaranteed daily
deliveries by air. Immediately after harvesting, our flowers
Commodity Vegetables
are flown to our Miami facilities where temperatures are
We source, harvest, cool, distribute and market more than 20
maintained at consistent levels in all warehouse and production
different types of fresh vegetables, including iceberg lettuce,
operations. Maintaining the cold chain enables us to deliver
red and green leaf lettuce, romaine lettuce, butter lettuce,
the freshest and healthiest flowers to the market.
celery, cauliflower, broccoli, carrots, brussels sprouts, green
onions, asparagus, snow peas and artichokes. We sell our
Global Logistics
commodity vegetable products primarily in North America,
Asia and, to a lesser extent, Western Europe. In North We have significant owned and operated food sourcing and
America, we are the number one provider of lettuce, celery related operations in Chile, Colombia, Costa Rica, Ecuador,
and cauliflower. Guatemala, Honduras, Japan, the Philippines, Thailand and
the United States. We also source food products in Algeria,
Argentina, Australia, Brazil, Cameroon, China, Greece, Italy,
Value-Added
Ivory Coast, Mexico, New Zealand, Peru, South Africa, South
Our value-added vegetable products include ready-to-eat
Korea, Spain, Tunisia and Turkey. Significant volumes of
salads, bagged baby carrots, broccoli florets, and cauliflower
Dole’s fresh fruit and packaged products are marketed in
florets. In 2003, consumers purchased more of our ready-to-
Canada, Western Europe, Japan and the United States, with
eat salads than any other brand.
lesser volumes marketed in Australia, China, Hong Kong,
New Zealand, South Korea, and certain other countries in
Packaged Foods Asia, Eastern Europe, Scandinavia, the Middle East and
Central and South America.
Our packaged food segment produces canned pineapple,
canned pineapple juice, fruit juice concentrate and fruit in
15
18. Research and Development Richard J. Dahl, President and Chief Operating Officer. Mr.
Dahl became Dole’s President and Chief Operating Officer in
Our research and development programs concentrate on
July 2004. He was promoted to Senior Vice President and
sustaining the productivity of our agricultural lands, food
Chief Financial Officer in July 2003 and became a director of
safety, product quality of existing products and the
Dole in April 2003. Mr. Dahl joined Dole as Vice President
development of new value-added products, as well as
and Chief Financial Officer in June 2002, after serving as
agricultural research and packaging design. Agricultural
President and Chief Operating Officer of Pacific Century
research is directed toward sustaining and improving
Financial Corporation and Bank of Hawaii. Prior to Pacific
product yields and product quality by examining and
Century, Mr. Dahl held various positions at Ernst & Young.
improving agricultural practices in all phases of production
He holds a B.S. in Accounting from the University of Idaho
(such as development of specifically adapted plant varieties,
and is a Certified Public Accountant.
land preparation, fertilization, cultural practices, pest and
disease control, post-harvesting, handling, packing and
C. Michael Carter, Executive Vice President, General Counsel
shipping procedures), and includes on-site technical services
and Corporate Secretary. Mr. Carter became Dole’s Executive
and the implementation and monitoring of recommended
Vice President, General Counsel and Corporate Secretary in
agricultural practices. Research efforts are also directed towards
July 2004. He was promoted to Senior Vice President,
integrated pest management and biological pest control.
General Counsel and Corporate Secretary in July 2003 and
Specialized machinery is developed for various phases of agri-
became a director of Dole in April 2003. Mr. Carter joined
cultural production and packaging that reduces labor costs,
the Company in October 2000 as Vice President, General
improves productivity and efficiency and increases product
Counsel and Corporate Secretary. Prior to his employment
quality. Agricultural research is conducted at field facilities
by Dole, Mr. Carter had served as Executive Vice President,
primarily in California, Hawaii, Latin America and Asia. We also
General Counsel and Corporate Secretary of Pinkerton’s
sponsor research related to environmental improvements and
Inc. Prior to Pinkerton’s, Inc., Mr. Carter held positions
the protection of worker and community health.
at Concurrent Computer Corporation, Nabisco Group
Holdings, The Singer Company and the law firm of Winthrop,
Management Stimson, Putnam and Roberts. He holds a B.S. from the
University of California at Berkeley and a J.D. from George
Below is a list of the names and brief employment history of
Washington University.
the officers and senior management of Dole as of July 29, 2004.
Scott A. Griswold, Executive Vice President, Corporate
David H. Murdock, Chairman of the Board and Chief
Development. Mr. Griswold was promoted to Executive Vice
Executive Officer. Mr. Murdock joined the Company as
President, Corporate Development, in July 2004. He became
Chairman of the Board and Chief Executive Officer in July
Dole’s Vice President, Acquisitions and Investments, in July
1985. He was also President from February to July 2004. He
2003 and joined Dole’s Board of Directors in April 2003. Mr.
has been Chairman of the Board, Chief Executive Officer and
Griswold has been Executive Vice President of Finance of
Director of Castle & Cooke, Inc., a Hawaii corporation, since
Castle & Cooke, Inc., which is indirectly wholly-owned by
October 1995 (indirectly wholly-owned by Mr. Murdock
Mr. Murdock, since 2000. Since 1987, he has served as an
since September 2000). Since June 1982, he has been
officer and/or director of various companies held by Mr.
Chairman of the Board and Chief Executive Officer of Flexi-Van
Murdock. Mr. Griswold holds a B.A. from Luther College.
Leasing, Inc., a Delaware corporation wholly-owned by Mr.
Murdock. Mr. Murdock also is the sole owner and developer
Roberta Wieman, Executive Vice President, Chief of Staff.
of the Sherwood Country Club in Ventura County,
Ms. Wieman became Dole’s Executive Vice President, Chief
California, and numerous other real estate developments, and
of Staff in July 2004 and joined Dole’s Board of Directors in
is the sole stockholder of numerous corporations engaged in
April 2003. She joined the Company in November 1991 as
a variety of business ventures and in the manufacture of
Executive Assistant to the Chairman of the Board and Chief
industrial and building products.
16
19. Executive Officer and was promoted to Vice President in July 1997. She became Assistant Treasurer of Dole in July
February 1995. She has also served as an officer and/or 1997, and Treasurer of Dole in November 1998. Ms. Potillo
director of various companies held by Mr. Murdock. holds a B.M. from Southern Illinois University and an
M.B.A. from the University of California, Los Angeles.
Sue Hagen, Senior Vice President, Human Resources. Ms.
Hagen became Dole’s Senior Vice President, Human Joseph S. Tesoriero, Vice President and Chief Financial
Resources, in July 2004. She was promoted to Vice President, Officer. Mr. Tesoriero became Dole’s Vice President and Chief
Human Resources, in April 2003. She was Vice President, Financial Officer in July 2004. He joined the Company in
Human Resources, North America Operations, from January October 2002 as Vice President, Taxes. From July 1998 to
2000 to March 2003. Ms. Hagen joined the Company in June September 2002, Mr. Tesoriero was Senior Vice President of Tax
1986. She holds a B.S. from the University of Redlands and an with Global Crossing Services Company, Inc. Prior to Global
M.B.A. from the University of Southern California. Crossing, he held various tax-related positions with The
Coleman Company, Inc., Revlon, Inc., International Business
Javier H. Idrovo, Senior Vice President, Strategy. Mr. Idrovo Machines and Deloitte Haskins & Sells. Mr. Tesoriero holds a
became Dole’s Senior Vice President, Strategy, in July 2004. He B.S. in Accounting from Villanova University, a J.D. from New
joined the Company in 2001 as Vice President, Strategy. He York Law School and an LL.M. in Tax from Boston University
previously worked as a Manager for Boston Consulting Group. School of Law.
Mr. Idrovo holds a B.S. and M.S. in Engineering from Harvey
Mudd College, and an M.B.A. from Harvard Business School. Jonathan Y. Bass, Vice President and General Manager,
Chilean Division. Mr. Bass joined the Company in 1977 as
Jeffrey B. Conner, Vice President, Associate General Counsel Manager of Financial Analysis in the Costa Rican banana
and Assistant Secretary. Mr. Conner became Dole’s Vice division. He held various financial and operational positions
President, Associate General Counsel and Assistant Secretary in the Latin American banana organization and was
in July 2003. He joined Dole in January 2001 as Associate ultimately promoted to Vice President for Banana
General Counsel. Mr. Conner also serves as Division General Production. Mr. Bass was appointed Vice President and
Counsel for Dole’s Worldwide Vegetable Division. Prior to General Manager of the Chilean Division in 1989. He holds
joining Dole, he practiced law at the law firm of Gibson, a B.S. from the University of North Carolina and an M.B.A.
Dunn & Crutcher. Mr. Conner holds a B.A. from the from the University of Hawaii.
University of California, Los Angeles, a Ph.D. in Economics
from Harvard University and J.D. from Harvard University. Michael J. Cavallero, President, North America Tropical
Fresh Fruit. Mr. Cavallero joined the Company in 1974 as a
Yoon J. Hugh, Vice President, Corporate Controller and Chief technical service representative with the Fresh Marketing
Accounting Officer. Ms. Hugh joined the Company in organization where he held various positions before transferring
December 2001 as Assistant Corporate Controller and was to Fresh Vegetables in 1986 as Vice President, Sales. In 1992,
promoted to Corporate Controller and Chief Accounting he was promoted to Vice President, Sales and Marketing,
Officer in October 2002 and to Vice President, Corporate North America. He was promoted to President, North
Controller and Chief Accounting Officer in July 2003. Prior to America Tropical Fresh Fruit in March 2001. Mr. Cavallero
joining Dole, she was with PricewaterhouseCoopers LLP for holds a B.A. from San Francisco State University.
approximately 10 years. Ms. Hugh holds a B.A. in Business/
Economics from the University of California, Los Angeles. William F. Feeney, President, Dole Europe. Mr. Feeney joined
the Company in 1981 as Vice President and General Manager
Beth Potillo, Vice President and Treasurer. Ms. Potillo became of Chile. He became President and Managing Director of
Vice President and Treasurer of Dole in July 2003. She Dole Europe in 1990 with the creation of a European head-
joined the Company in 1986. She was Manager of Financial quarters, which has been in Paris since 1993. Mr. Feeney
Planning from January 1995 to July 1995. She held the holds a B.S. from the U.S. Naval Academy and an M.B.A.
position of Manager of Corporate Finance from July 1995 to from Columbia University.
17
20. Richard A. Harrah, President, Dole Latin America. Disclosure Regarding Forward-Looking Statements
Mr. Harrah joined the Company in 2000 as Vice President of (Cautionary Statements Under the Private Securities
Operations for Dole Fresh Flowers, and was appointed Litigation Reform Act of 1995)
President of Dole Latin America in July 2001. He previously
Some of the information included in this Annual Report and
worked for Noboa Corporation as Chief Financial Officer
other materials filed or to be filed by us with the Securities
and as Chief Operating Officer. Prior to Noboa, Mr. Harrah
and Exchange Commission (as well as information included
also held positions with Geest and Del Monte Fresh Produce.
in oral statements or other written statements made or to be
Mr. Harrah holds a B.A. from the University of Redlands and
made by us or our representatives) contains or may contain
an M.B.A. from the University of Southern California.
forward-looking statements within the meaning of Section
Peter M. Nolan, President, Worldwide Packaged Foods. 27A of the Securities Act and Section 21E of the Securities
Mr. Nolan joined the Company in 1992 as Senior Vice Exchange Act of 1934, as amended (the “Exchange Act”).
President, Sales and Marketing for North America and These statements can be identified by the fact that they do
became President of Packaged Foods in 1995. He was not relate strictly to historical or current facts and may
promoted to President, North America Operations in 2000, include the words “may,” “could,” “should,” “would,”
and was subsequently promoted to President, Worldwide “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan” or
Packaged Foods. Mr. Nolan previously worked for Van De other words or expressions of similar meaning. We have
Kamp’s Frozen Foods and Vlasic Foods, as well as Sanwa based these forward-looking statements on our current
Food. He holds a B.S. from Boston University. expectations about future events. The forward-looking
statements include statements that reflect management’s
James Prideaux, President, Dole Asia. Mr. Prideaux joined the beliefs, plans, objectives, goals, expectations, anticipations and
Company as Chief Financial Officer of Dole Asia in July 2000. intentions with respect to our financial condition, results
He became acting President in June 2003 and was named of operations, future performance and business, including
President in February 2004. Prior to joining Dole, Mr. Prideaux statements relating to our business strategy and our current and
held various financial positions with Atlantic Richfield future development plans.
Company (ARCO). He holds a B.B.A. from Birmingham
University, England, and is a Chartered Accountant. Our website address is www.dole.com. For detailed financial
information with respect to Dole’s business and its operations,
John T. Schouten, President, Dole Fresh Flowers. see Dole’s Consolidated Financial Statements and the related
Mr. Schouten joined the Company in 1985 and held various Notes to Consolidated Financial Statements, which are
positions in the sales and production organizations of Dole included in Dole’s Form 10-K.
Fresh Vegetables. He was promoted to Senior Vice President
and General Manager, Commodity Operations in 2000, and
was promoted to President, Dole Fresh Flowers, in May 2002.
Mr. Schouten holds a B.A. from the University of Oregon.
Eric M. Schwartz, President, Worldwide Vegetables.
Mr. Schwartz joined Dole in 1993 as Plant Manager, Dole
Fresh Vegetables. He left the company in 1996 and returned
in 1998 as Vice President of Manufacturing, Dole Fresh
Vegetables. He most recently was Senior Vice President of
Operations at Dole Fresh Vegetables, and was promoted to
President, Worldwide Vegetables in March 2001. Mr.
Schwartz holds a B.S. from Pennsylvania State University.
18
21. Dole Food Company, Inc. Officers and Operating Division Officers
Dole Food Company, Inc. Officers
(Seated, right to left): David H. Murdock, Sue Hagen, Javier H. Idrovo
(Standing, right to left): C. Michael Carter, Beth Potillo, Richard J. Dahl, Roberta Wieman, Scott A. Griswold, Yoon J. Hugh
(Not pictured): Jeffrey B. Conner, Joseph S. Tesoriero
Dole Food Company, Inc. Operating Division Officers
(Seated, right to left): David H. Murdock, Jonathan Y. Bass, Michael J. Cavallero
(Standing, right to left): James Prideaux, William F. Feeney, Peter M. Nolan, Richard A. Harrah, Eric M. Schwartz
19
22. Dole Food Company, Inc. Directors, Officers
and Operating Division Officers
Directors Officers Operating Division Officers
David H. Murdock David H. Murdock James Prideaux
Chairman of the Board Chairman of the Board President, Dole Asia
and Chief Executive Officer and Chief Executive Officer
William F. Feeney
Dole Food Company, Inc.
Richard J. Dahl President, Dole Europe
C. Michael Carter President and
Richard A. Harrah
Executive Vice President, General Chief Operating Officer
President, Dole Latin America
Counsel and Corporate Secretary
C. Michael Carter
Dole Food Company, Inc.
Peter M. Nolan
Executive Vice President, General
President, Dole Worldwide
Andrew J. Conrad, Ph.D. Counsel and Corporate Secretary
Packaged Foods
Co-founder and Chief Scientific Officer
Scott A. Griswold
National Genetics Institute
Eric M. Schwartz
Executive Vice President,
President, Dole Worldwide
Richard J. Dahl Corporate Development
Fresh Vegetables
President and
Roberta Wieman
Chief Operating Officer
John T. Schouten
Executive Vice President, Chief of Staff
Dole Food Company, Inc.
President, Dole Fresh Flowers
Sue Hagen
David A. DeLorenzo
Michael J. Cavallero
Senior Vice President,
Former Vice Chairman,
President, Dole North America
Human Resources
President and Chief Operating Officer
Tropical Fresh Fruit
Dole Food Company, Inc.
Javier H. Idrovo
Jonathan Y. Bass
Senior Vice President, Strategy
Richard M. Ferry
Vice President and General Manager,
Founder Chairman
Jeffrey B. Conner Dole Chile
Korn/Ferry International
Vice President, Associate General
(international executive search firm)
Counsel and Assistant Corporate
Secretary
Scott A. Griswold
Executive Vice President,
Yoon J. Hugh
Corporate Development
Vice President, Controller and
Dole Food Company, Inc.
Chief Accounting Officer
Executive Vice President, Finance
Castle & Cooke, Inc.
Beth Potillo
Vice President and Treasurer
David H. Murdock, Jr.
Chief Executive Officer and President
Joseph S. Tesoriero
JEDCO (home builder)
Vice President and
Vice President of Development
Chief Financial Officer
Castle & Cooke, Inc.
Justin M. Murdock
Vice President of Investments
DOLE ® Fresh-Cut Fruit Mix
Castle & Cooke, Inc.
DOLE Fresh-Cut Fruit Mix is an integral offering in Dole’s
Edward C. Roohan
new fresh-cut fruit line. Combining everyday favorites such as
President and Chief Operating Officer
Castle & Cooke, Inc. cantaloupe, honeydew and grapes, DOLE Fresh-Cut Fruit
Mix brings consumers the refreshing fruits they love in the
Roberta Wieman
convenient formats their busy lives demand. Available in 12
Executive Vice President, Chief of Staff
oz. and 24 oz. fully recyclable, clear plastic containers. Also available are fresh-cut can-
Dole Food Company, Inc.
Executive Vice President and teloupe, watermelon, honeydew, melon mix, pineapple rings, pineapple chunks, and
Corporate Secretary cored and peeled pineapple.
Castle & Cooke, Inc.
20
