NYSE — Consumer Defensive: Manufacturing, Packaged Foods: Meat Packing Plants
www.hormelfoods.comHormel Foods Corporation announced that CEO James P. Snee will retire at the end of fiscal year 2025, transitioning to a special advisor role until October 26, 2025. He will continue as President and CEO until a successor is appointed or until his departure. Post-retirement, Snee will provide consulting services for 18 months, receiving monthly fees totaling $2 million, along with participation in the company's annual incentive plan and stock options. His retirement will be classified under the company's benefit plans due to his long service. This transition is critical for Hormel as it seeks to manage a leadership change while maintaining operational stability.
Executive Transition