Jim Snee, the Chairman, President, and CEO of Hormel Foods Corporation, has announced his retirement at the end of the company's fiscal year 2025, marking the end of a distinguished 36-year career with the Fortune 500 global branded food company. Snee, who has been at the helm for the past eight years, will transition into a strategic advisor role for the board through the end of fiscal year 2025 and for an additional 18 months thereafter.

Hormel Foods has initiated a search for Snee's successor, with the board forming a committee to consider both internal and external candidates. Snee's tenure has been marked by significant achievements, including overseeing the company's largest acquisition to date, the $3.3 billion purchase of the Planters snacking portfolio from Kraft Heinz in 2021. Other notable acquisitions under his leadership include the Fontanini branded foodservice business and the South America-focused Ceratti brand.

Snee's leadership also saw Hormel navigate through the challenges of the global pandemic, supply chain disruptions, and inflation, which led to record revenue and profits before consumer pushback on high prices. He launched critical initiatives such as the reorganization of the company's operating model for greater consumer and customer focus and the Transform & Modernize for growth initiative.

Despite recent challenges, including slower turkey sales and revenue declines in the China market, Hormel's fiscal 2025 performance outlook remains unchanged. The company continues its legacy of dividend growth, announcing its 59th consecutive year of annual dividend increases in November 2024.

Snee expressed pride in the transformative work accomplished during his tenure and confidence in Hormel Foods' bright future. Bill Newlands, the board's independent lead director, extended gratitude to Snee for his dedication to the company, its stockholders, employees, and communities, looking forward to an effective transition.

Hormel Foods, known for brands like Spam, Jennie-O, Skippy, and Planters, operates across more than 80 countries worldwide, with annual revenues of approximately $12 billion. The company's commitment to its purpose statement, 'Inspired People. Inspired Food.', continues to drive its mission to bring trusted and iconic brands to tables globally.