"On behalf of the entire board of directors, we extend our gratitude to Jim for his dedication to Hormel Foods, its stockholders, its employees and its communities,” says Bill Newlands, the board’s independent lead director. “We congratulate him on an impactful career and look forward to working with him in the months ahead to execute an effective transition and deliver on our business imperatives."

Under Snee's leadership, the company grew its roster of protein-centric brands with acquisitions in its retail, foodservice and international segments: the Planters snacking portfolio, the Fontanini branded foodservice business and the South America-focused Ceratti brand. Snee also launched initiatives including the reorganization of its operating model, and most recently, the Transform & Modernize for growth initiative. During Snee's tenure, the company continued its legacy of dividend growth. In November 2024, Hormel Foods announced its 59th consecutive year of annual dividend increases.

"As CEO of Hormel Foods for the last eight years, I have been blessed to work alongside the most talented and committed team in the industry,” Snee says. “I am proud of the impactful, innovative and transformational work we have accomplished during my tenure, which has been a period of rapid and significant change. My heartfelt gratitude goes to the leaders who came before me and to all the dedicated colleagues I've worked with during my 36-year career. As we begin this transition, I'm confident in the bright future that lies ahead for Hormel Foods."

Snee continues to be a candidate for election to the board at its 2025 Annual Meeting of Stockholders, which is scheduled for Jan. 28. If elected, Snee is expected to serve as a director until a successor assumes his executive roles.