Hormel Foods' long-time CEO James Snee to retire

Published 01/14/2025, 07:25 AM
Updated 01/14/2025, 07:32 AM
© Reuters. FILE PHOTO: The company logo for Hormel Foods is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 9, 2019. REUTERS/Brendan McDermid/File Photo
HRL
-

(Reuters) - Hormel Foods (NYSE:HRL) said on Tuesday its CEO, James Snee, is set to retire at the end of 2025, after leading the company for nearly nine years.

The Skippy peanut butter maker said Snee will serve as a strategic advisor to the board until the end of his tenure and for 18 months afterward, while it identifies a successor.

Snee, who is also the company's president and the chairman of the board, has been with Hormel since 1989.

He led its international division in 2011, overseeing the company's growing global portfolio.

© Reuters. FILE PHOTO: The company logo for Hormel Foods is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 9, 2019. REUTERS/Brendan McDermid/File Photo

Snee's retirement comes at a time when Hormel is battling slowing demand for its products and lower turkey prices.

The company in December had forecast fiscal year 2025 sales and profit below estimates.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.