(Reuters) – Hormel Meals mentioned on Tuesday its CEO, James Snee, is about to retire on the finish of 2025, after main the corporate for almost 9 years.
The Skippy peanut butter maker mentioned Snee will function a strategic advisor to the board till the tip of his tenure and for 18 months afterward, whereas it identifies a successor.
Snee, who can also be the corporate’s president and the chairman of the board, has been with Hormel since 1989.
He led its worldwide division in 2011, overseeing the corporate’s rising world portfolio.
Snee’s retirement comes at a time when Hormel is battling slowing demand for its merchandise and decrease turkey costs.
The corporate in December had forecast fiscal yr 2025 gross sales and revenue beneath estimates.
(Reporting by Neil J Kanatt in Bengaluru; Enhancing by Shreya Biswas)
