Latest news with #JohnGhingo
Yahoo
24-06-2025
- Business
- Yahoo
Hormel Foods brings back former CEO to serve on an interim basis
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Hormel Foods' former CEO Jeffrey Ettinger is returning to lead the food company on an interim basis starting July 14. Ettinger, who has been with Hormel for nearly three decades and currently sits on the company's board, will serve as interim chief for 15 months. He previously was Hormel's CEO from 2005 to 2016. Hormel's board plans to install the next CEO in October 2026. The company's search committee for a new chief executive has been dissolved in the meantime. Hormel also said it promoted John Ghingo to president. He most recently served as executive vice president for Hormel's retail business, leading its largest operating unit and overseeing its portfolio of consumer brands. Ghingo brings 15 years of 'valuable perspective,' including experience at Mondelēz International as well as Hormel subsidiary Applegate Farms, the company added. As president, Ghingo will oversee Hormel's retail, foodservice and international business segments. He also will lead its global operations, supply chain, research and development, plus corporate strategy functions. Bill Newlands, Hormel's chairman, called the executive search 'thorough and deliberate.' 'We are confident that Jeff's valuable experience with the public markets and investment community, as well as his deep understanding of our culture, will complement John's expertise with consumer-relevant innovation, brand building, and strategy in today's dynamic food industry,' Newlands said. The executive shuffle comes after Hormel's current CEO James Snee said in January that he planned to retire after nearly four decades with the company, including nine years as its top executive. Snee and Ettinger both have a long history with the company. Hormel could decide to continue that pattern with its next CEO pick by appointing Ghingo, a seasoned executive who is intimately familiar with the Minnesota company's portfolio, operations and strategy. His position as president will give him further responsibility and experience that would ideally position him to make the transition to CEO. Hormel last month narrowed its sales and earnings outlook for its fiscal 2025 year. Similar to other CPG manufacturers, the company is struggling with weak demand as high prices and economic uncertainty prompt consumers to pull back on spending. Recommended Reading Why Corn Nuts is a 'diamond-in-the-rough' for Hormel Foods Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
23-06-2025
- 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.
CTV News
23-06-2025
- 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)
Reuters
23-06-2025
- 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.
Yahoo
23-06-2025
- Business
- Yahoo
Hormel Foods' former CEO Jeffrey Ettinger to return on interim basis
(Reuters) -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 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. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
