Hormel Foods Corporation (NYSE: HRL) announced today that its Board of
Directors has elected James P. Snee to the position of president and
chief operating officer effective October 26, 2015. Snee was also
appointed to the Board of Directors. Snee succeeds Jeffrey M. Ettinger,
57, who has served as president since 2004. Ettinger will continue to
serve as the company’s chairman and chief executive officer.
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James P. Snee (Photo: Business Wire)
In his new role, Snee, 48, will oversee all of the company’s business
segments and global operations including Grocery Products, Refrigerated
Foods, Specialty Foods, Jennie-O Turkey Store and International, and
will continue to report to Ettinger. Corporate administrative functions
including finance, mergers and acquisitions, legal, research and
development, supply chain, and human resources will continue to report
to Ettinger.
“Jim’s vast experience in both our core businesses and our emerging
growth markets internationally position him exceptionally well to take
on the additional responsibilities of president and chief operating
officer,” said Ettinger. “Jim is a strong leader and has my confidence
and the trust of our board. Under Jim’s direction, the international
segment has delivered double-digit sales and earnings growth, expanded
its global footprint, and driven impressive growth of our operations in
China.”
“I would like to thank Jeff and the board for their trust and
confidence; I am truly honored,” said Snee. “I understand the incredible
legacy of Hormel Foods, and equally as important, I understand our
imperatives for growth. The last few years have been exciting for our
company as we completed several acquisitions, including the SKIPPY®
brand, CytoSport Holdings and Applegate Farms, adding to our diverse and
exciting portfolio of brands. I am excited to partner with Jeff, our
senior leadership team, and all of our employees around the world, to
continue our journey of innovation and growth.”
Snee will be only the tenth president in the company’s nearly 125-year
history. As group vice president of Hormel Foods and president of Hormel
Foods International, Snee led the company’s International segment, which
encompasses more than 50 countries outside the United States.
Snee joined Hormel Foods in 1989 in the foodservice division and served
in various positions within the group before being named manager of
inventory and distribution for the Refrigerated Foods segment in 1995.
He was promoted to foodservice area manager and foodservice regional
sales manager in 1996 and 1998, respectively. Snee was named director of
purchasing in 2006 and vice president of affiliated business units in
2008. In 2011, he advanced to senior vice president of Hormel Foods
International and assumed his current position in 2012.
Snee earned a Bachelor of Arts degree in marketing from New Mexico State
University (Las Cruces, N.M.). He received his master’s degree in
business administration from the University of St. Thomas in St. Paul,
Minn.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational
manufacturer and marketer of consumer-branded food and meat products,
many of which are among the best known and trusted in the food industry.
The company leverages its extensive expertise, innovation and high
competencies in pork and turkey processing and marketing to bring
branded, value-added products to the global marketplace. The company is
a member of the Standard & Poor's (S&P) 500 Index, S&P 500 Dividend
Aristocrats for 2014, was named the 2013 Sustainable Supply Chain of the
Year by Refrigerated & Frozen Foods magazine, and was again named one of
“The 100 Best Corporate Citizens” by Corporate Responsibility Magazine
for the seventh year in a row. Hormel Foods was also recognized as a
2015 Military Friendly Employer by G.I. Jobs magazine, on the 2015 Best
for Vets Employers List by Military Times, and was named one of the 2015
40 Best Companies for Leaders by Chief Executive magazine. The company
enjoys a strong reputation among consumers, retail grocers, foodservice
and industrial customers for products highly regarded for quality,
taste, nutrition, convenience and value. For more information, visit http://www.hormelfoods.com.
Forward-Looking Statements
This news release contains forward-looking information based on
management’s current views and assumptions. Actual events may differ
materially. Please refer to the cautionary statement regarding
Forward-Looking Statements and Risk Factors on pages 34-40 in the
company’s Form 10-Q for the fiscal quarter ended July 24, 2015. The
company’s Form 10-Q can be accessed at www.hormelfoods.com
under “Investors-SEC Filings.”
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