Hormel Foods announces key leadership appointments in retail unit

AUSTIN, Minn. - Hormel Foods Corporation (NYSE:HRL) announced two leadership appointments in its Retail business segment on Wednesday. Paul Peil has been promoted to vice president of marketing for Fresh and Ready Meats, while Christie Crouch joins the company as vice president of marketing for Snacking and Entertaining. According to InvestingPro data, Hormel operates with moderate debt levels and maintains strong liquidity, with a current ratio of 2.47x indicating solid financial stability.

Peil, a 35-year veteran with Hormel, will oversee fresh pork, Jennie-O, Hormel Cure 81 brand, and the deli category for Retail customers. He began his career with the company in 1989 as a sales trainee and has held various positions including national accounts manager for fresh pork and director of fresh-meat sales.

Crouch, who previously served as vice president and general manager at Conagra Brands, will lead brand-building initiatives for Hormel’s snacking and entertaining brands including Planters, Corn Nuts, Hormel pepperoni and Hormel Gatherings. She brings more than two decades of experience in brand strategy, innovation and general management.

"Paul’s deep institutional knowledge combined with his ability to lead high-performing teams and deliver strong results makes him an ideal fit," said John Ghingo, president of Hormel Foods, in a press release statement.

Regarding Crouch, Ghingo noted she "is a transformational leader with a proven track record of revitalizing brands, launching breakthrough innovation, and delivering sustained business results."

Peil holds a Bachelor of Arts degree in Business Administration from the University of Dubuque. Crouch is a certified public accountant with a Master of Business Administration from Harvard Business School and a Bachelor of Science degree in Accountancy from the University of Illinois Urbana-Champaign.

Hormel Foods is a global branded food company with approximately $12 billion in annual revenue across more than 80 countries worldwide. InvestingPro analysis indicates the company is currently undervalued, with analysts maintaining a moderate outlook and predicting profitability for the upcoming year. For detailed insights and additional ProTips on Hormel’s financial health and market position, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Hormel Foods Corporation reported its second-quarter earnings for 2025, which aligned with analyst expectations for earnings per share (EPS) at $0.35. However, the company’s revenue slightly missed projections, coming in at $2.9 billion compared to the anticipated $2.92 billion. In leadership changes, Hormel Foods announced the appointment of Jeffrey M. Ettinger as interim CEO and John F. Ghingo as president, effective July 14, 2025. These appointments follow the planned retirement of current CEO James P. Snee, who will transition to a special advisor role until October 2025.

Additionally, Goldman Sachs initiated coverage on Hormel Foods with a buy rating and set a price target of $35, citing the company’s strong packaged food portfolio. Piper Sandler maintained its Neutral rating and a $33 price target, noting potential for EBIT growth after recent declines. The firm gained insights from discussions with Hormel’s CEO and CFO, reflecting on the company’s business drivers. These developments indicate a period of transition and potential growth for Hormel Foods.

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