Latest news with #JeffreyEttinger
CBS News
2 hours ago
- Business
- CBS News
Hormel Foods taps current and former executives as president and interim CEO
Minnesota-based Hormel Foods is tagging two executives — one current and one former — to run the company when President and CEO Jim Snee steps down next month. The company said in a written release Monday that John Ghingo will be promoted from his current role as executive vice president for retail to president, and Jeffrey M. Ettinger will return to the role of CEO on an interim basis for 15 months. Ghingo and Ettinger will take their new roles on July 14, at which point Snee will step down. Ghingo will also join the board of directors that day. John Gingo and Jeffrey M. Ettinger Hormel Foods Ghingo is set to become the 11th president of Hormel Foods in the company's nearly 135-year history. "It's an incredible honor to be named the 11th president of Hormel Foods and I'm grateful to the board for their trust and confidence," Ghingo said. Ettinger, who is the current chairman of the company's nonprofit, the Hormel Foundation, served as president and CEO from 2005 to 2016 before Snee took the role. He's been with Hormel for nearly 30 years. "Serving the company in this interim role is a privilege and honor," Ettinger said. "What has always set Hormel Foods apart is its people – their integrity, passion and pride in the work they do. I'm excited to support John and our talented team to expand our impact in new and meaningful ways." Hormel, whose headquarters are based in Austin, started its search for Snee's successor in January after announcing he would be retiring. The company also said at that time that Snee would serve as a strategic advisor through March 2027.
Yahoo
5 hours ago
- Business
- Yahoo
Hormel Taps Former CEO Jeffrey Ettinger to Return in Interim Role
Former Hormel CEO Jeffrey Ettinger is returning to the role in an interim capacity for 15 months starting in July, the company said Monday. Ettinger replaces James Snee, who has served as the Skippy peanut butter and Spam maker's CEO for nearly nine years. Snee was originally slated to retire at the end of the company's fiscal year in Hormel Foods (HRL) CEO Jeffrey Ettinger is returning to the role in an interim capacity starting in July, the company said Monday. Ettinger, who previously served as CEO from 2005 to 2016, will take the helm as interim CEO for 15 months, effective July 14, the company said. Ettinger replaces James Snee, who recently served as the Skippy peanut butter and Spam maker's CEO for nearly nine years. In January, Hormel said Snee planned to retire at the end of the company's fiscal year, which runs through October. A permanent CEO is now expected to be installed in October 2026, Hormel said. The company did not specify whether the move will affect its financial outlook. Hormel is currently in its fiscal third quarter, which in runs through most of July. Shares of Hormel edged close to 2% higher in early trading Monday. The stock is down about 1.5% for 2025 so far. Read the original article on Investopedia
CTV News
8 hours ago
- Business
- CTV News
Hormel Foods' former CEO Jeffrey Ettinger to return on interim basis
A former CEO of Hormel Foods, the parent company for Skippy peanut, butter returns on an interim basis. Hormel Foods said on Monday former CEO Jeffrey Ettinger will return to helm the Skippy peanut butter maker on an interim basis for 15 months starting July 14. Ettinger, 66, served as chief executive from 2005 to 2016 and will replace current Hormel CEO and president James Snee, 57, who announced his retirement in January. The management transition comes after the company last month tightened its annual profit forecast towards the lower end as it struggles with supply chain issues and weak demand. Snee will serve as a special advisor to the company until Oct. 26 this year, and Hormel expects him to stay on as a consultant for another 18 months after that, the company said in a regulatory filing. The company said it plans to name a permanent CEO in October next year. It has also appointed John Ghingo, executive vice president for the retail business unit, as president of the company, also effective July 14. Hormel had previously said Snee will serve as a strategic advisor to the board until the end of his tenure and for 18 months afterward. (Reporting by Neil J Kanatt in Bengaluru; Editing by Leroy Leo)
Wall Street Journal
9 hours ago
- Business
- Wall Street Journal
Ettinger Returns to Hormel Foods as Interim CEO
Jeffrey Ettinger is returning to Hormel Foods HRL 0.83%increase; green up pointing triangle to serve as its interim chief executive for 15 months, effective July 14. Ettinger, who currently serves on the company's board, had a nearly three-decade long career with the maker of Spam lunch meat and Skippy peanut butter, having previously served as both president and CEO, the company said Monday.
Reuters
9 hours ago
- Business
- Reuters
Hormel Foods' former CEO Jeffrey Ettinger to return on interim basis
June 23 (Reuters) - Hormel Foods (HRL.N), opens new tab said on Monday former CEO Jeffrey Ettinger will return to helm the Skippy peanut butter maker on an interim basis for 15 months starting July 14. Ettinger, 66, served as chief executive from 2005 to 2016 and will replace current Hormel CEO and president James Snee, 57, who announced his retirement in January. The management transition comes after the company last month tightened its annual profit forecast towards the lower end as it struggles with supply chain issues and weak demand. Snee will serve as a special advisor to the company until October 26 this year, and Hormel expects him to stay on as a consultant for another 18 months after that, the company said in a regulatory filing. The company said it plans to name a permanent CEO in October next year. It has also appointed John Ghingo, executive vice president for the retail business unit, as president of the company, also effective July 14. Hormel had previously said Snee will serve as a strategic advisor to the board until the end of his tenure and for 18 months afterward.
