Hormel Foods (HRL) said Tuesday that its chief executive officer, James Snee, will retire at the end of fiscal 2025.

The company said Snee will serve as the board's strategic advisor through fiscal 2025 and for 18 months after his retirement.

Hormel said the board has formed a search committee to identify his successor, considering internal and external candidates.

The company said Snee is also a candidate for board election at the company's 2025 annual meeting of stockholders, scheduled for Jan. 28. If elected, he is expected to serve as a director until a successor assumes the executive role.

Hormel said the company's fiscal 2025 performance outlook is unchanged.