Hormel Foods Corp.’s former CEO Jeff Ettinger is retiring as chairman of the board, completing the transition of power to Jim Snee.
The board of directors elected Snee, the company’s current CEO and president, as the new chairman of the board. Ettinger, who served as chairman since 2006, will fully retire on Nov. 20.
“We thank Jeff for his outstanding leadership of Hormel Foods,” Snee said in a statement. “During Jeff’s tenure, the company experienced significant growth and expansion through organic growth, strategic acquisitions, and a continued focus on new product innovation.”
Snee, who has worked at Austin, Minn.-based Hormel for 28 years, was appointed chief executive last October following Ettinger’s retirement from the position.
The company is best known as the maker of Spam and the Hormel-branded bacon products.
Ettinger occupied the top office for 10 years beginning in 2006. During his tenure, Hormel’s stock increased from $8 a share to more than $40 a share. He oversaw the acquisition of major consumer brands like Skippy peanut butter, Muscle Milk drinks, Wholly Guacamole and Applegate meats.
Kristen Leigh Painter