Hormel CEO Johnson retires after 11 Years

Hormel CEO Johnson retires after 11 Years

Hormel Foods Corporation, Austin, announced the retirement of Joel W. Johnson as chairman of the company's board of directors.

He was elected chairman in 1995 while serving as company president and chief executive officer.

At the same time Jeffrey M. Ettinger has been elected chairman of the board, effective immediately. He will continue to serve as company president and chief executive officer.

Ettinger highlighted the emphasis on branding, expansion into China, growth of the turkey business and advance into ethnic foods as key initiatives during Johnson's tenure. Under Johnson, company sales more than doubled, earnings per share more than tripled and the stock price nearly quadrupled.

Ettinger was elected to the position of president in 2004 and chief executive officer in 2005. He joined the company in 1989 and served in a variety of roles, including senior attorney, product manager for Hormel(R) chili, treasurer, and president and chief executive officer of Jennie-O Turkey Store.

Hormel Foods Corporation is a multinational manufacturer and marketer of consumer-branded food and meat products. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace.

Source: Hormel Foods Corporation

Newsletter-Service

With our free newsletters, we can provide you with the most important industry news and useful practical tips from Germany and around the world.

 
stats