Hormel Foods (HRL) CEO James Snee plans to retire at the end of fiscal 2025, the company said Tuesday.
Snee has worked at Hormel for 36 years, eight of which have been as CEO. The Spam and Skippy parent said it has formed a search committee to identify a successor, and Snee has agreed to remain with the company as a strategic advisor for 18 months following his departure.
Hormel said its outlook for fiscal 2025, which ends in late October, remains unchanged. Last month, the company projected full-year net sales of $11.9 billion to $12.2 billion and earnings per share (EPS) of $1.51 to $1.65.
Hormel Foods shares were 1% lower Tuesday morning. They are down about 6% over the last year.
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