Hormel Foods promotes two to vice president roles

AUSTIN, Minn. - Hormel Foods Corporation (NYSE:HRL), a global food company with a market capitalization of $16.5 billion and annual revenue of $11.9 billion, has announced the promotion of two key executives within its Retail business segment. According to InvestingPro data, the company maintains a "FAIR" financial health score and currently appears undervalued based on its Fair Value analysis. Scott Weisenbeck has been named vice president of marketing – Retail, and Joe O’Connor will serve as vice president of Emerging Brands – Retail.

Weisenbeck, who has been with Hormel Foods since 1992, previously held the position of assistant vice president of bacon. His contributions have significantly impacted the company’s growth and innovation in the bacon category. In his new role, Weisenbeck will leverage his extensive experience to oversee a broader range of Hormel’s brands.

O’Connor’s career with Hormel Foods began in 2006, and he has since held various sales and leadership roles. Most recently, he served as president of Applegate and assistant vice president of Hormel Foods. O’Connor’s deep understanding of the premium consumer market and proven track record of driving growth will be instrumental in his new position overseeing the company’s emerging brands, including Applegate and Justin’s.

Jim Snee, president and CEO of Hormel Foods, praised the advancements, stating, "These advancements recognize Scott and Joe’s leadership, ability to deliver results and positions them to have greater impact as we continue to grow our Retail business." John Ghingo, executive vice president of Retail at Hormel Foods, also expressed excitement for the strategic insights and expertise both Weisenbeck and O’Connor will bring to their new roles.

Hormel Foods, headquartered in Austin, Minnesota, operates on a global scale with annual revenues of approximately $12 billion. The company’s brand portfolio includes over 30 well-known names such as PLANTERS®, SKIPPY®, SPAM®, and HORMEL® BLACK LABEL®. Hormel Foods prides itself on its commitment to corporate responsibility and community service, having received recognition from U.S. News & World Report, Newsweek, and TIME magazine, among others.

The promotions of Weisenbeck and O’Connor are part of Hormel Foods’ ongoing efforts to strengthen its brands and drive growth within the Retail business segment. The company maintains a healthy balance sheet with liquid assets exceeding short-term obligations and operates with moderate debt levels. For detailed analysis and comprehensive insights, investors can access the full Pro Research Report available on InvestingPro, which provides in-depth coverage of Hormel Foods among 1,400+ top US stocks. This announcement is based on a press release statement from Hormel Foods Corporation.

In other recent news, Hormel Foods Corporation reported its first-quarter 2025 earnings, which highlighted a mixed financial performance. The company’s earnings per share (EPS) of $0.35 fell short of analysts’ expectations of $0.39, although revenue slightly exceeded projections at $3.0 billion. Despite the revenue beat, the EPS miss contributed to a cautious market reaction, with Hormel’s stock declining post-announcement. Analysts from Bank of America noted the company’s challenges with turkey supply chain issues, which have impacted near-term performance. Hormel Foods is actively addressing these pressures through strategic pricing actions across its turkey complex. The company remains optimistic about its Transform and Modernize initiative, which is projected to yield $100-150 million in benefits by the end of 2025. Furthermore, Hormel Foods is maintaining its guidance for organic net sales growth of 1-3% and adjusted EPS between $1.58 and $1.72 for the full year. The company’s strategic focus includes continued investments in its value-added portfolio, which has shown resilience in the marketplace.

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