Hormel has dissolved the search committee charged with hiring its next chief executive officer and appointed a former CEO to lead the company on an interim basis.
The Minnesota-based producer of the Spam, Planters and Dinty Moore brands said that Jeff Ettinger would lead the company for a 15-month period, and that it now plans to name a new permanent CEO next October.
Ettinger will temporarily replace Jim Snee, who announced plans to retire earlier this year. Ettinger led the company from 2005 to 2016, and has continued to serve on its board of directors.
Hormel also announced the promotion of John Ghingo, its current executive vice president for retail, to company president. Both Ettinger and Ghingo will assume their new roles in mid-July.
“We are also very thankful to Jeff for his willingness to return as interim CEO for the next 15 months,” Hormel Chairman Bill Newlands said in a statement. “We are confident that Jeff's valuable experience with the public markets and investment community, as well as his deep understanding of our culture, will complement John's expertise with consumer-relevant innovation, brand building, and strategy in today's dynamic food industry.”
