Dive Brief:
- Hormel Foods promoted its president of the international division and group vice president Jim Snee to COO and president, replacing CEO Jeff Ettinger for the latter title, effective Oct. 26.
- Snee has been with Hormel since 1989 and has served in his current position since 2012.
- "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," Ettinger said in a news release.
Dive Insight:
Ettinger, 57, has served as president since 2004 and CEO since 2005.
"Hormel's previous three CEO/presidents — I.J. Holton, Dick Knowlton and Joel Johnson and — all retired around the age of 62. A Hormel spokesman said he was not aware of a mandatory retirement age or whether the company's executive succession plan has Snee lined up to be chief executive," Minneapolis/St. Paul Business Journal reported.
