Latest news with #Ettinger
CBC
31-07-2025
- Sport
- CBC
Nova Scotian cattle penning competitors take on the best at Calgary Stampede
Three Nova Scotians made their debut at the Calgary Stampede last month. Together they finished 13th out of 143 in a team cattle penning event. Luke Ettinger stopped by Creek View Farm in Northport, N.S., to learn more.
Yahoo
24-06-2025
- Business
- Yahoo
Hormel Foods names interim chief exec but still no permanent CEO
Hormel Foods has appointed former CEO and board member Jeffrey Ettinger as the US group's interim chief executive – and said it will be more than a year until the role is filled permanently. Jim Snee, the Skippy peanut butter maker's CEO and president, announced his retirement in January after eight years at the helm. In a statement yesterday (23 June), Hormel said Ettinger would hold the role of interim CEO up to some time in October next year. "The Hormel Foods CEO search committee will now be dissolved, with the board planning to install the permanent chief executive officer in October 2026," Hormel said. The company also announced John Ghingo will be promoted to the role of president. Ghingo is executive vice president for Hormel's retail business unit, which houses the company's consumer brands. He has been in the role since 2024 after four years leading Hormel subsidiary Applegate Farms. Ettinger stepped down from the position of CEO in 2016 to serve as Hormel's chairman of the board. 'During his tenure, Ettinger earned a reputation for driving performance and results. With his deep knowledge of the company and its culture, and his experience with the company's external stakeholders, he will be a strong partner to Ghingo,' Hormel said yesterday. Last month, the Spam maker reported a drop in half-year profits on the back of weak sales growth. Operating income in the six months to 27 April dropped 11% to $477m and declined 9% on an adjusted basis to $519m. Net earnings stood at $350.3m, versus $407.9m in the corresponding period the previous year. Net sales inched up 0.1% to $5.89bn. On an organic basis, net sales grew 1%. In the second quarter, the sales from Hormel's retail division were flat, with volumes declining 7% amid "lower commodity shipments and contract manufacturing". Speaking to analysts after Hormel announced the results, the company's management said it expects its growth to accelerate in the second half. "Hormel Foods names interim chief exec but still no permanent CEO" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
20-03-2025
- Business
- Yahoo
Hormel Foods Appoints Jeff Ettinger to Board of Directors
AUSTIN, Minn., March 20, 2025 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced today that Jeffrey M. Ettinger, chairman of The Hormel Foundation, has been re-appointed to the Hormel Foods Board of Directors, effective March 21, 2025. The Hormel Foundation, an unaffiliated non-profit organization with a charitable mission, beneficially owns approximately 46% of Hormel Foods outstanding common stock. Ettinger previously served on the Hormel Foods Board of Directors and spent nearly three decades with the company, retiring in 2016 after a successful tenure as president and chief executive officer. "We are happy to welcome Jeff Ettinger back to the Hormel Foods Board of Directors," said Bill Newlands, chairman of the Hormel Foods board. "During his tenure with the company and as chairman for our largest shareholder, Jeff has demonstrated a steadfast commitment to supporting Hormel Foods, our shareholders, and our hometown of Austin, Minnesota." He continued, "We are proud to continue to evolve and deepen our relationship with The Hormel Foundation, which was established more than 80 years ago by company founders George A. Hormel and his son Jay, to support the vibrancy and success of Hormel Foods for generations to come." "Returning to the Hormel Foods Board of Directors is a privilege and honor," Ettinger said. "I look forward to representing The Hormel Foundation and all shareholders while working with the board and management to help shape the next chapter of growth for Hormel Foods, rooted in our Austin, Minnesota, community." Ettinger will join the board's Governance Committee and CEO Search Committee. About Jeff Ettinger Ettinger currently is chairman of The Hormel Foundation, one of Minnesota's largest community foundations and grant makers. In this role, Ettinger oversees the distribution of millions of dollars in charitable donations to organizations in and around Austin, Minnesota, enhancing the quality of life in the community. Ettinger served as the interim president of the University of Minnesota from 2023 to 2024. Previously, he was president and chief executive officer of Hormel Foods from 2005 to 2016. He became Hormel Foods' chief executive officer after serving in roles including corporate attorney, treasurer, and president of Jennie-O Turkey Store, Inc. Ettinger is also an experienced independent public company director, previously serving on the boards of The Toro Company and Ecolab Inc., including serving as Ecolab's lead director for nearly six years. Ettinger holds a Bachelor of Arts degree and a Juris Doctor from the University of California, Los Angeles. About Hormel Foods – Inspired People. Inspired Food.™ Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with approximately $12 billion in annual revenue across more than 80 countries worldwide. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, JUSTIN'S®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report, one of America's most responsible companies by Newsweek, recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit Contact: Media RelationsHormel Foodsmedia@ View original content to download multimedia: SOURCE Hormel Foods Corporation Sign in to access your portfolio
Al Jazeera
12-03-2025
- Business
- Al Jazeera
‘Closest target': Why is Donald Trump so focused on Canada?
Montreal, Canada – In his first speech as Canada's prime minister-designate, Mark Carney delivered what observers have described as a stunning statement. 'I know that these are dark days,' Carney told a room full of supporters on Sunday after he won the race to lead the governing Liberal Party. 'Dark days brought on by a country we can no longer trust.' The country in question? An ally with which Canada shares the world's longest undefended land border and, until recently, seemingly unshakeable ties: the United States. 'That is jaw-dropping in the broader context,' Jon Parmenter, a history professor at Cornell University in New York state, said of Carney's remark. Experts say the idea that the US can no longer be trusted reflects a sentiment that has been spreading rapidly across Canada in recent months, however. In that time, Canadians have watched with a mixture of shock, confusion and anger as US President Donald Trump repeatedly took aim at their country — both as part of his global trade policies and his expansionist ambitions. Trump has imposed steep tariffs on Canadian goods and threatened more. He regularly calls for the annexation of Canada, and he has made unfounded and disparaging claims about outgoing Prime Minister Justin Trudeau and the Canadian electoral system. 'The damage to the relationship is substantial,' Parmenter told Al Jazeera. 'It's going to be long-lasting.' Yet, as Trump's attacks against his country's northern neighbour continue unabated, many observers are now asking: Why? Why is the president targeting a country that had widely been viewed as one of the US's most reliable partners? Why does Trump seem so fixated on Canada? 'Closest target' While the current US-Canada trade war is 'unprecedented' in modern history, it is unsurprising in the context of Trump, according to Aaron Ettinger, a political science professor at Carleton University in Ottawa. The US president pursued similar 'America First' economic policies during his first term, Ettinger noted, including imposing tariffs on Canadian steel and aluminium imports in 2018. 'None of this is new. We know this is coming. He's telegraphed everything. But now he's talking about 50-percent rates of tariffs. The aggressiveness is jacked up more than it was seven or eight years ago,' Ettinger told Al Jazeera. Within the scope of the Trump administration's adversarial approach to foreign policy, Ettinger said he doesn't believe Canada is particularly special. Instead, it 'just happens to be the closest target, along with Mexico'. 'Trump treats all countries as if they are subordinates to his wishes. He loves their leaders when the leaders play along, and he doesn't when they don't,' Ettinger said. 'So Canada is going to get hit with tariffs, just like European Union countries and Mexico. Canada just happens to be close by. Canada also happens to be playing against type and fighting back pretty hard right now.' The Canadian government has imposed retaliatory tariffs on billions of dollars worth of American goods, further stoking Trump's ire. It has said the measures will remain in place until the US president rescinds and removes the threat of levies. Personal animosity Yet, Trump's focus on Canada goes beyond tariffs and economic policy alone. Even before he re-entered the White House in January, the Republican leader began urging Canada to become the 51st US state. He has repeatedly referred to Trudeau as a 'governor' instead of a prime minister. Trump also has framed the plan to annex Canada as a boon for Canadians and a way to dodge US tariffs. 'The people would pay much less tax than they're paying right now. They'd have perfect military protection,' Trump recently said. While Trudeau and other Canadian leaders at first shrugged off the remarks as good-natured ribbing, they quickly began to take Trump's repeated calls for annexation more seriously. Last week, Trudeau told reporters that Trump wants 'a total collapse of the Canadian economy because that'll make it easier to annex us'. The outgoing prime minister said Canada will never become part of the US and called the administration's tariffs a 'very dumb' policy. Trump and Trudeau never had a particularly warm relationship, and they publicly clashed in 2018 over trade and tariffs as well. That animosity could be playing a role in Trump's recent rhetoric against Canada, said Geoffrey Kabaservice, vice president of political studies at the Niskanen Center, a centre-right think tank in Washington, DC. 'Trump is always looking for a way to exact revenge and retribution against people who have criticised him in the past, and certainly Trudeau would fall into that category,' he told Al Jazeera. A '19th-century' vision But Kabaservice said Trump's 'very 19th-century idea' of what it means to be a great power is at the heart of his annexation rhetoric. 'When Trump talks about wanting to 'Make America Great Again', one component of what he has in mind by greatness is a country that's expansive, that reaches for and claims new territory, that enlarges itself,' he explained. That said, when the US president says he wants Canada to be the 51st state, he likely isn't thinking about what that would mean in practice, including how absorbing a country of 40 million people would alter American politics, said Kabaservice. 'It's sort of like just [a] boy's fantasy: 'Wouldn't it be great if America could expand to take in all these other countries? Wouldn't it be great if America was like Britain back in its imperial days, when the world map was covered in red?' 'I think that's the level on which he thinks of these things.' And while Trump's base may not have annexing Canada on its list of priorities, Kabaservice said, the US president's supporters enjoy when he proposes things 'that make his enemies and even many of his allies unhappy'. 'They applaud what they see as his audacity, his willingness to envision a new world, and his ability to 'own the libs' and make them cry.' According to Amy Koch, a Republican political strategist, Trump's policies vis-a-vis Canada should also be seen as part of a wider push for dominance in the Western hemisphere. Tariffs on Canadian and Mexican goods, calls to retake control of the Panama Canal and acquire Greenland, and an executive order renaming the Gulf of Mexico the 'Gulf of America' are all elements of that effort. 'It is [about] fully establishing dominance in the Western Hemisphere, and I think Canada is a part of that,' Koch told Al Jazeera. 'Tactics without strategy' Wherever Trump's real motivation lies, observers agree that his stance towards Canada could have a lasting effect. 'The whole point about Donald Trump is that he is a bully, and bullies bully people who are susceptible to their strengths. And that's what he's doing,' said Kabaservice. 'Trump can do things like levy tariffs because he has the leverage over Canada and he has the latitude in terms of the responsibility of the chief executive … But we're also in the process of destroying trust with our allies and that will be immensely difficult to rebuild.' Ettinger added that, while people in the US and Canada keep trying to find the rationale behind Trump's actions, the president may ultimately be 'employing tactics without strategy'. For example, US stock markets plunged this week amid the uncertainty around Trump's tariffs push, raising fears that the country could slip into a recession. 'He knows that he wants to hit hard, or he wants to put tariffs, or he wants to escalate. But there's no strategic means-to-ends calculation going on here,' Ettinger said. 'And that makes the guy fundamentally irrational.'
