Hormel Meals Chairman, President and CEO James P. Snee to Retire at Finish of Fiscal Yr By Investing.com

AUSTIN, Minn., Jan. 14, 2025 /PRNewswire/ — Hormel Meals Company (NYSE: NYSE:), a Fortune 500 world branded meals firm, at present introduced that James P. Snee, chairman of the board, president and chief government officer, will retire on the finish of fiscal 2025, following a distinguished 36-year profession with the corporate.

The Board has fashioned a search committee and can profit from its current CEO-succession course of to determine Snee’s successor. Inside and exterior candidates are being thought of. Snee has agreed that after his successor is called, he’ll function a strategic advisor to the Board by way of the top of fiscal yr 2025 and for 18 months thereafter.

Invoice Newlands, the Board’s impartial lead director, mentioned, “On behalf of the entire board of directors, we extend our gratitude to Jim for his dedication to Hormel Foods, its stockholders, its employees and its communities. We congratulate him on an impactful career and look forward to working with him in the months ahead to execute an effective transition and deliver on our business imperatives.”

Snee mentioned, “As CEO of Hormel Foods for the last eight years, I have been blessed to work alongside the most talented and committed team in the industry. I am proud of the impactful, innovative and transformational work we have accomplished during my tenure, which has been a period of rapid and significant change. My heartfelt gratitude goes to the leaders who came before me and to all the dedicated colleagues I’ve worked with during my 36-year career. As we begin this transition, I’m confident in the bright future that lies ahead for Hormel Foods.”

Below Snee’s management, the corporate grew its roster of protein-centric manufacturers with acquisitions in its Retail, Foodservice and Worldwide segments: the PLANTERS ^® snacking portfolio, the FONTANINI ^® branded foodservice enterprise and the South America-focused CERATTI ^®  model. Snee additionally launched important initiatives designed to place the corporate for long-term success, together with the reorganization of its working mannequin for better client and buyer focus and, most not too long ago, the Rework & Modernize for development initiative. Throughout Snee’s tenure, the corporate continued its legacy of dividend development. In November 2024, Hormel Meals introduced its 59^th consecutive yr of annual dividend will increase.

Snee continues to be a candidate for election to the Board at its 2025 Annual Assembly of Stockholders, which is scheduled for January 28, 2025. If elected, Snee is anticipated to function a director till a successor assumes his government roles.

The corporate’s fiscal 2025 efficiency outlook stays unchanged.

About Hormel Meals ” Impressed Individuals. Impressed Meals.^™  
Hormel Meals Company, primarily based in Austin, Minnesota, is a world branded meals firm with  roughly $12 billion in annual income throughout greater than 80 international locations worldwide. Its manufacturers embody  PLANTERS ^®, SKIPPY ^®, SPAM ^®, HORMEL ^® NATURAL CHOICE ^®, APPLEGATE ^®, JUSTIN’S ^®, WHOLLY ^®, HORMEL ^® BLACK LABEL ^®, COLUMBUS ^®, JENNIE-O ^® and greater than 30 different beloved manufacturers. The corporate is a member of the and the S&P 500 Dividend Aristocrats, was named the most effective corporations to work for by U.S. Information & World Report, one among America’s most accountable corporations by Newsweek, acknowledged by TIME journal as one of many World’s Greatest Firms and has acquired quite a few different awards and accolades for its company duty and group service efforts. The corporate lives by its goal assertion ” Impressed Individuals. Impressed Meals.^™ ” to carry among the world’s most trusted and iconic manufacturers to tables throughout the globe. For extra info, go to hormelfoods.com.

FORWARD-LOOKING STATEMENTS
This information launch accommodates “forward-looking” info inside the that means of the federal securities legal guidelines. The “forward-looking” info could embody statements in regards to the Firm’s outlook for the longer term in addition to different statements of beliefs, future plans, methods, or anticipated occasions and comparable expressions regarding issues that aren’t historic information. Phrases or phrases equivalent to “should result,” “believe,” “intend,” “plan,” “are expected to,” “targeted,” “will continue,” “will approximate,” “is anticipated,” “estimate,” “project,” or comparable expressions are supposed to determine forward-looking statements. Such statements are topic to sure dangers and uncertainties that would trigger precise outcomes to vary materially from historic earnings and people anticipated or projected, which components embody, however should not restricted to, dangers associated to the deterioration of financial situations; dangers related to acquisitions, joint ventures, fairness investments, and divestitures; potential disruption of operations, together with at co-manufacturers, suppliers, logistics suppliers, clients, or different third-party service suppliers; failure to understand anticipated value financial savings or working efficiencies related to strategic initiatives; threat of lack of a fabric contract; the Firm’s incapacity to guard info expertise techniques towards, or successfully reply to, cyber assaults or safety breaches; deterioration of labor relations, labor availability or will increase to labor prices; basic dangers of the meals business, together with meals contamination; outbreaks of illness amongst livestock and poultry flocks; fluctuations in commodity costs and availability of uncooked supplies and different inputs; fluctuations in market demand for the Firm’s merchandise; injury to the Firm’s status or model picture; local weather change, or authorized, regulatory, or market measures to handle local weather change; dangers of litigation; potential sanctions and compliance prices arising from authorities regulation; compliance with stringent environmental laws and potential environmental litigation; and dangers arising from the Firm’s international operations. Please discuss with the cautionary statements relating to “Risk Factors” and “Forward-Looking Statements” that seem in our most up-to-date Annual Report on Type 10-Ok and Quarterly studies on Type 10-Q, which may be accessed at www.hormelfoods.com within the “Investors” part, for added info. In making these statements, the Firm isn’t endeavor, and particularly declines to undertake, any obligation to handle or replace every or any think about future filings or communications relating to the Firm’s enterprise or outcomes, and isn’t endeavor to handle how any of those components could have brought on adjustments to discussions or info contained in earlier filings or communications. Although the Firm has tried to checklist comprehensively these necessary cautionary threat components, the Firm needs to warning buyers and others that different components could sooner or later show to be necessary in affecting the Firm’s enterprise or outcomes of operations. The Firm cautions readers to not place undue reliance on forward-looking statements, which symbolize present views as of the date made.