Jeff Ettinger rejoins Hormel Foods Board of Directors

AUSTIN, Minn. - Hormel Foods Corporation (NYSE: HRL), a leading global branded food company with a market capitalization of $16.3 billion and an impressive track record of maintaining dividend payments for 55 consecutive years, has announced the reappointment of Jeffrey M. Ettinger to its Board of Directors, effective tomorrow. According to InvestingPro analysis, the company currently shows good financial health with strong cash flow metrics. Ettinger, who is the chairman of The Hormel Foundation, brings his extensive experience back to the boardroom after previously serving as the company’s president and CEO until his retirement in 2016.

Ettinger’s return to the board is seen as a strategic move by Hormel Foods, as The Hormel Foundation, an independent non-profit entity with a philanthropic focus, beneficially owns around 46% of Hormel Foods’ outstanding common stock. The company has demonstrated strong shareholder commitment, having raised its dividend for 32 consecutive years, with a current dividend yield of 3.9%. His long association with Hormel Foods and his current leadership role at the foundation is expected to provide valuable insights and direction to the company’s governance.

Bill Newlands, chairman of the Hormel Foods board, expressed enthusiasm for Ettinger’s return, emphasizing his commitment to the company’s shareholders and the Austin community. Ettinger himself echoed this sentiment, stating his pride in representing The Hormel Foundation and all shareholders to foster Hormel Foods’ growth.

In addition to his duties on the board, Ettinger will serve on the Governance Committee and the CEO Search Committee, contributing to key areas of the company’s leadership and future direction.

Ettinger’s career at Hormel Foods has been marked by a series of progressive leadership roles, culminating in his tenure as president and CEO from 2005 to 2016. Beyond Hormel Foods, he has also held significant positions in academia and other public companies, including a stint as the interim president of the University of Minnesota and board roles at The Toro Company and Ecolab Inc.

Hormel Foods, headquartered in Austin, Minnesota, is known for its portfolio of popular brands such as PLANTERS®, SKIPPY®, SPAM®, and many others, generating annual revenue of about $11.9 billion globally. The company maintains a healthy balance sheet with a current ratio of 2.45, indicating strong liquidity, and operates with a moderate debt level. For deeper insights into Hormel’s financial health and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive financial metrics and expert research reports covering over 1,400 US stocks. The company’s commitment to corporate responsibility and community service has been recognized with numerous awards, and it continues to be driven by its purpose statement "Inspired People. Inspired Food.™"

This news is based on a press release statement issued by Hormel Foods Corporation.

In other recent news, Hormel Foods Corporation reported its first-quarter 2025 earnings, showing a mixed financial performance. The company posted earnings per share (EPS) of $0.35, which fell short of analysts’ expectations of $0.39, despite revenue exceeding projections at $3.0 billion. Hormel Foods maintains a strong position in value-added products and is actively progressing with its Transform and Modernize initiative. In addition to financial results, the company announced the promotion of Scott Weisenbeck and Joe O’Connor to vice president roles within its Retail business segment. These promotions are part of Hormel’s efforts to strengthen its brands and drive growth. Analyst firms have not reported any upgrades or downgrades of Hormel Foods stock recently. The company continues to face challenges such as supply chain issues, particularly in the turkey market, and fluctuating commodity prices, which may impact near-term performance. Despite these challenges, Hormel Foods has projected organic net sales growth of 1-3% and adjusted EPS between $1.58 and $1.72 for the remainder of 2025.

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