((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
Hormel Foods HRL.N said Tuesday that its chief executive, James Snee, will retire at the end of 2025, after leading the company for nearly nine years.
Peanut butter maker Skippy said Snee will serve as a strategic advisor to the board until the end of his term and for the next 18 months while a successor is found.
Snee, who also serves as company president and chairman of the board, has been with Hormel since 1989.
-He led the international division in 2011, overseeing the company’s growing global portfolio.
Mr. Snee’s retirement comes at a time when Hormel faces slowing demand for its products and falling turkey prices.
In December, the company forecast fiscal 2025 sales and profits below estimates.
