Hormel Foods names Jeffrey Ettinger as interim CEO
Jeffrey Ettinger returns in temporary role while company delays permanent CEO appointment until late 2026
USA – Hormel Foods has appointed former executive Jeffrey Ettinger as its interim chief executive as the company delays naming a permanent successor.
Ettinger, who previously held the CEO role until 2016 and remained on the board, will serve in the interim position until around October 2026, the company announced in a statement.
His appointment follows the retirement of CEO and president Jim Snee, who stepped down in January after eight years in charge of the food manufacturing group.
With Ettinger now installed, Hormel confirmed that its CEO search committee has been dissolved and that it will wait more than a year before permanently filling the role.
In a related move, Hormel has promoted John Ghingo to the position of company president, elevating him from his role as executive vice president of the retail business unit.
Ghingo, who joined Hormel in 2020 to lead subsidiary Applegate Farms, assumed the EVP role in 2024 and now takes on broader responsibilities at the corporate level.
The leadership changes come at a time when Hormel is under pressure from soft earnings and sluggish retail performance.
For the six months ending 27 April, the Minnesota-based company saw operating income fall by 11% to US$477 million, while adjusted figures showed a 9% decline to US$519 million.
Net earnings dropped to US$350.3 million, down from US$407.9 million recorded in the same period last year.
Overall sales increased by a mere 0.1% to US$5.89 billion, with organic growth at 1%.
Performance in the second quarter was weighed down by the retail division, where flat sales and a 7% decline in volumes were blamed on lower commodity shipments and reduced contract manufacturing activity.
Hormel’s management, during a call with analysts, expressed optimism for stronger results in the second half of the year but offered limited detail on how the improvement would be achieved.
The company has not shared further information regarding the selection process or preferred profile for the future permanent CEO.
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