Thomas Eterginowas namedCFO at 1stDibs(Nasdaq: DIBS), an e-commerce company that sells luxury items. Secondly, I assess the talent because I think thats so critical to just figuring out, do we have the right folks in the right seat to be able to partner with the business? If appropriate corrective actions cannot be agreed to or are not made, Hormel Foods will suspend or discontinue purchases from the supplier. Lykken became president of Applegate in 2016 after being appointed chief operating officer in August 2015. Smiley would go on to become a CPA and have a more than25-year career as a global senior finance executive. Smiley:From a long-term perspective, it has accelerated some things that we needed to do around automation. Shes the companys second female CFO. "Mark has had an outstanding career with Hormel Foods," Snee said. By visiting Powered and implemented by Interactive Data Managed Solutions. I look forward to Steve bringing this expertise back to Jennie-O Turkey Store as he focuses on delivering against our key results.". Steve Lykken to Lead Jennie-O Turkey Store. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. Hormel Foods went live with Oracle Fusion Cloud HCM in January 2020 and Fusion Cloud ERP in June, as well as Oracle Fusion Cloud EPM. By closing this message or continuing to use our site, you agree to the use of cookies. Advance our antibiotic stewardship efforts and pilot an antibiotic use measurement and reporting system. Prior to joining Verifone, Patel held the position of finance director for the Telecom Consumer Premise Equipment business unit at Motorola. One factor leading to this achievement is Hormel Foods' ability to survey market dynamics and adapt to consumer behavior changes and trends to unlock supply chain capacity. Notably, the meatpacking industry saw an enormous burden on producers and consumers, leading to reduced meat production and higher prices. The company also announced that Steve Lykken has been named senior vice president, Hormel Foods and president, Jennie-O Turkey Store. . He became senior vice president of the retail division of Jennie-O Turkey Store in 2003. This feat hasn't been achieved since 2016, according to Hormel Foods' latest earnings call transcript. The alignment of our supply chain from procurement to shipment has never been more important, said Jim Snee, chairman of the board, president, and chief executive officer, Hormel Foods. In 2021 alone, we recognized 61 suppliers for their performance. He joined Jennie-O Turkey Store in 1996 and was promoted to senior vice president of the commodity and supply division in 2001. He served in his current position since 2017. "During this last year, facing an unprecedented pandemic with supply chain interruptions, Glenn has been an extraordinary and tireless leader, ensuring Hormel Foods was able to protect the safety of our global workforce while producing food for our customers and consumers. Prior to this role, Bauer worked in the Investment Banking Divisions at CITI and Lehman Brothers. The company lives by its purpose statement Inspired People. Robinson points to ongoing progress on digital quote delivery and shippers' cost savings. The business community weighs in. Weve actually gone to towns and bused people from where they are living to the plant. Weve also literally said to our customers, can you pick up your product? He joined Jennie-O Turkey Store in 1996, and was promoted to senior vice president of the commodity-and-supply division at Jennie-O Turkey Store in 2001. During this last year, facing an unprecedented pandemic with supply chain interruptions, Glenn has been an extraordinary and tireless leader, ensuring Hormel Foods was able to protect the safety of our global workforce while producing food for our customers and consumers. Coffey will assume leadership of the One Supply Chain organization, including continuing the mission of the strategic and competitively advantaged organization while optimizing it to deliver sustainable long-term growth. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future Inspired People. (Reuters) - Spam-maker Hormel Foods Corp on Tuesday warned that it would have a hard time meeting high demand for certain products because of supply chain, staffing and . We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.. executives, Hormel Foods smoothing out supply chain constraints, Food Entrepreneur Experience The Future of Functional, Trends & Innovations: The promise of precision fermentation, BBU debuts Entenmanns ice cream sandwiches, Former Walmart buyers launch frozen food startup. Demand is strong, but we now need to prioritize what we run. We will continue working with our suppliers to reach our 100% traceability goal. Leitch brings more than 35 years of experience in the food and commodity industries to this role with broad experience in the protein space, both domestically and internationally. Design, CMS, Hosting & Web Development :: ePublishing. "Hormel Foods is a distinctly different company than it was a decade ago, with a food forward, growth-oriented . Smiley:We do. We made a commitment to source only sustainable palm oil that is fully traceable to the plantation level by the end of 2025. The company released its first quarter . Design, CMS, Hosting & Web Development :: Mark Coffey, newgroup vice president of supply chain for Hormel, and Jen Ehresmann, new vice president of supply chain. A GE executive came to the U.K. when I was working there in the early 2000s, and said to me, Ive heard great things about you. Coffey will assume leadership of the One Supply Chain organization, including continuing the mission of the strategic and competitively advantaged organization while optimizing it to deliver sustainable long-term growth. Hormel Foods is the No. If suppliers are found to be noncompliant, appropriate action is taken up to and including termination. The One Supply Chain team will continue to oversee the company's global supply chain. Additionally, Jen Ehresmann was named to vice president of supply chain. The company lives by its purpose statement Inspired People. Hormel Foods Corporation is an equal opportunity employer. I am confident that Mark will continue to bring a strategic focus to building our One Supply Chain capabilities, operational excellence and long-term growth for the enterprise.. Notably, the company will align pork procurement and all plant operations for both Refrigerated Foods and Grocery Products into the newly created group. Hormel Foods Surprises Community Nonprofits . Jen Ehresmann Elevated to Vice President, Supply Chain AUSTIN, Minn., Feb. 1, 2021 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a global branded food company, today announced that Glenn Leitch, executive vice president of supply chain, will retire during the second calendar quarter of 2021. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of "The 100 Best Corporate Citizens" by Corporate Responsibility Magazine for the ninth year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. 2023 Fortune Media IP Limited. When Jacinth Smiley, EVP and CFO at Hormel Foods, was a high school student in Jamaica, she was drawn to numbers. According to Jim Snee, this strategic acquisition will contribute to Hormel Foods' evolution from a commodity-oriented, meat-centric company. The One Supply . Smiley:Yes, absolutely. Suppliers that exceed our established standards are eligible for our annual Hormel Foods Spirit of Excellence Awards. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president later that year. AUSTIN, MINN. - Hormel Foods Corp. has been hampered by supply chain constraints for much of the pandemic. Contact: Media Relations 507-434-6352 media@hormel.com, View original content to download multimedia:http://www.prnewswire.com/news-releases/hormel-foods-announces-the-retirement-of-glenn-leitch-executive-vice-president-supply-chain-301219416.html, Mark Coffey to Advance to Group Vice President, Supply Chain, for Hormel Foods Global Operations. Hormel Foods Corporation, based in Austin, Minnesota,is a global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide. Lykken was most recently president of Applegate, a Hormel Foods company. The companys supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. Agarwal most recently served as the CFO, treasurer, and secretary of Apollo Commercial Real Estate Finance, Inc. Corporate Manager of IT Applications - Supply Chain at Hormel Foods United States. Leitch is currently group vice president, Hormel Foods and president, Jennie-O Turkey Store. The growth was driven by strength in refrigerated foods, Jennie-O Turkey Store, and the addition of the Planters snack nuts business, Smiley said in Tuesdays earnings call. Young plans to transition from his role as CFO once his successor is identified. Bauer most recently served as EVP and CFO at Nuverra Environmental Solutions (NYSE: NES). Rising supply chain costs a key concern for C.P.G. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. Prior to his current role, which he assumed in 2017, he served as vice president of affiliated business units in Refrigerated Foods for six years. In addition, in 2021 we conducted eight food safety supplemental audits. Organic sales increased 13% for the quarter. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three straight years, is one of Fortune magazine's most admired companies, has appeared on Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for 12 years in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. "Jen's expertise managing complicated supply chains, while also understanding the connectivity to sales and marketing strategy, will be incredibly valuable as we continue to focus on our One Supply Chain strategy.". "Mark has had an outstanding career with Hormel Foods," Snee said. Mr. Leitchs retirement is effective during the second quarter of 2021, according to the company. Management Team Jim Snee Chairman of the Board President Chief Executive Officer Jacinth Smiley Executive Vice President Chief Financial Officer Deanna Brady Executive Vice President this website. If a supplier is found to be in violation of our Supplier Code of Conduct/sourcing policies, we require the supplier to implement corrective actions. 2023 Hormel Foods Corporation. The other piece, too, is around being innovative on how we get labor from place to place. Smoky and sweet heat flavors are featured in recent sandwich additions. This includes executing the companys strategy and optimizing it to ensure sustainable growth into the future. We use cookies to provide you with a better experience. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. hormel.com; hormelfoods.com; 3 507437XXXX; 507437XXXX; 507-434-XXXX; Jim Ufford . Earlier in his career, Paris served as audit senior manager for Deloitte & Touche LLP. "He is a proven leader with expertise that encompasses all facets of the turkey business from supply chain to sales and marketing. this website, certain cookies have already been set, which you may delete and He held his current position since 2017. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Offers may be subject to change without notice. Maintain high standards for animal care and handling throughout our supply chain. Steve has a strong track record of success in the food industry, especially given his tenure at Jennie-O Turkey Store, said Snee. Hormel Foods procurement, manufacturing, logistics, research and development, and quality management will report to Leitch. "Our competencies in brand stewardship, revenue growth management, e-commerce, innovation, and consumer insights will be key to driving growth for the Planters brand and for our customers," Snee said. During his 18 years at Motorola, he was a part of six acquisitions and saw the companys name change from Motorola Home to Motorola Mobility, a Google Company, to ARRIS and in 2019 to CommScope. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. Third-party audits may be conducted based on the results of these assessments. When I came to the U.S. in 1987, I was already set on going to a university and studying accounting.. I look forward to Steve bringing this expertise back to Jennie-O Turkey Store as he focuses on delivering against our key results.. We use cookies to provide you with a better experience. As part of our 20 By 30 Challenge, we are striving to achieve the following goals by 2030: These ambitions help support UN Sustainable Development Goals 3, 8, 10 and 12. Smiley officially began as finance chief in January, succeeding Jim Sheehan, who retired from Hormel at the end of 2021. Early in Mr. Leitchs career with Hormel, which began in 1996, he held multiple leadership positions with its turkey subsidiary, Jennie-O Turkey Store. Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across more than 80 countries worldwide. 20 By 30 Challenge Goals As part of our 20 By 30 Challenge, we are striving to achieve the following goals by 2030: Maintain high standards for animal care and handling throughout our supply chain. Senior Director of Communications Responsible Business Alliance . AUSTIN, Minn., Nov. 21, 2017 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL) today announced that Glenn Leitch will lead the company's global supply chain as its executive vice president of supply chain. Leitch's career spans more than 35 years in the food and commodity industries and at Hormel Foods, where he has held leadership positions for the company and its Jennie-O Turkey Store subsidiary. Our purchasing spend with diverse businesses was $1.3 billion in calendar year 2021. Mark Coffey, currently senior vice president of supply chain and manufacturing for Hormel Foods, will advance to group vice president of supply chain and will lead the company's global supply chain. Robinson Worldwide, Inc. 2023 Hormel Foods Corporation. Hormel Foods Announces the Retirement of Glenn Leitch, Executive Vice President, Supply Chain, Mark Coffey, currently senior vice president of supply chain and manufacturing for Hormel Foods, will advance to group vice president of supply chain and will lead the company's global supply chain, http://www.prnewswire.com/news-releases/hormel-foods-announces-the-retirement-of-glenn-leitch-executive-vice-president-supply-chain-301219416.html. Any advice for women on the road to the C-suite? Effective Oct. 31, 2022, the beginning of fiscal 2023, the company is transitioning to three operating segments - Retail, Foodservice and International. Design, CMS, Hosting & Web Development :: Mark Coffey, new group vice president of supply chain for Hormel, and Jen Ehresmann, new vice president of supply chain, Sign up for our free newsletters to stay informed on each days news and trends, Blue Apron names new chief supply chain officer, CKE Restaurant Holdings names two new senior executives, Alabama tribe starts meat processing plant project, Tyson workers on strike before the Van Buren plant closure, 2023 red meat production expected to be lower. 59 followers 55 connections. Leitch is well known in the food industry and has been involved in numerous organizations, associations and boards during his time with the company. It always resulted from someone thinking of me for roles that were available and asking me if I had interest. AUSTIN, MINN. Hormel Foods Corp. announced on Feb. 1, the upcoming retirement of Glenn Leitch, the company's executive vice president of supply chain, and the promotions of Mark Coffey to . Leitchs retirement is effective during the second quarter of 2021, according to the company. "His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. ***Please take a few minutes to complete this short CFO Daily survey. AUSTIN, Minn., Feb. 1, 2021 /PRNewswire/ --Hormel Foods Corporation (NYSE: HRL), a global branded food company, today announced that Glenn Leitch, executive vice president of supply chain, will retire during the second calendar quarter of 2021. However, the pandemic has also bred consumer behavior changes, driving higher and sustained retail sales in all four of Hormel Foods' segments. And part of the priorities that I have for the team is really spending more time simplifying our processes. Shared services type areas like AR, AP, payroll are ripe for automation and simplification and that will be a focus also help to facilitate the shift. The move is part of the companys plan to make its supply chain a strategic competitive advantage, while optimizing it to deliver sustainable long-term growth. Since then, she has held several increasingly senior finance roles in all Shells major businesses, in Europe, North America and latterly globally. Jen brings significant supply chain expertise to this role, Snee said. Leitch is well known in the food industry and has been involved in numerous organizations, associations and boards during his time with the company. "Glenn's expertise has been invaluable as we have optimized our global supply chain to be more strategic, cost-effective and agile to meet the needs of today's changing marketplace," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. AUSTIN, MINN. Hormel Foods Corp. announced on Feb. 1, the upcoming retirement of Glenn Leitch, the companys executive vice president of supply chain, and the promotions of Mark Coffey to group vice president of supply chain and Jen Ehresmann to vice president of supply chain. By closing this message or continuing to use our site, you agree to the use of cookies. Early in Leitchs career with Hormel, which began in 1996, he served in multiple leadership positions with its turkey subsidiary, Jennie-O Turkey Store. Completed initiatives have unlocked capacity and given the company the opportunity to fully meet demand. Formulations of classic options make their debut at the California trade show. Additionally, Hormel Foods is also expanding with itsacquisition of Planters, which is expected to close in Q2 2021, subject to regulatory review and approval. I recently talked with Smiley, who also oversees IT, about her first task as CFO, navigating supply chain issues, and mentoring. All Rights Reserved BNP Media. 2023 Hormel Foods Corporation. "His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. Copyright 2023. I am confident that Mark will continue to bring a strategic focus to building our One Supply Chain capabilities, operational excellence and long-term growth for the enterprise.". He is a 25-year veteran of Hormel Foods Corporation and was senior vice president of supply chain at Jennie-O Turkey Store prior to his appointment to Applegate's senior leadership team. Chad Pariswas named the next CFO atThe Marcus Corporation(NYSE: MCS). Our leaders empower all of us to bring more to the table for employees, consumers, investors and the communities we call home. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. In fact, in calendar year 2021 only 3% of our purchases were from new suppliers. Snee said the company will leverage its One . Opinions expressed by Forbes Contributors are their own. By visiting this website, certain cookies have already been set, which you may delete and block. Currently, Patel serves as VP of supply chain finance and transformation, for Verifone, a fintech company. He became senior vice president of the retail division of Jennie-O Turkey Store in 2003. Inspired Food. to bring some of the world's most trusted and iconic brands to tables across the globe. 2023 Hormel Foods Corporation. Preparing Travis profile View Travis's Email & Phone . He also previously served as chief accounting officer and treasurer of DoubleClick. In terms of finance being a business partner, one of the things we have been doing is really arming the supply chain leader with data that helps him with decision-making, such as, whats the most profitable product that we should make? The move is part of the company's plan to make its supply chain a strategic competitive advantage, while optimizing it to deliver sustainable long-term growth. Inspired Food. For more information, visit www.hormelfoods.com and https://csr.hormelfoods.com/. We will report additional information about this initiative in future reports. A global speaker, trainer, and lecturer on a variety of applicable topics for those in business, Erich's expertise includes: Supply chain management, financial accounting and controls,. Report this profile . I cover insights and advice for CFOs managing and building robust and resilient supply chains. Terms & Conditions. But our male counterparts, theyre the complete opposite. We report our internal results through a third party for our customers. ADM will begin a search for the next CFO, including internal and external candidates with the assistance of a leading independent search firm. Ensuring sustainable and ethical practices, The Path to a Regenerative Farming Revolution, Sustainable meat is not just our future, its here now. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president that same year. Jody Feragen, the first, retired in 2016. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president later that year. Scaringe, the founder of Amazon-backed EV startup Rivian, admitted in an open letter on Thursday, after online outrage resulting in a double-digit decline in its shares on Wednesday, that he lost fans trust by increasing the prices of his two models without warning, as reported by Fortune. Smiley:I was fortunate enough to have really good mentors and more importantly, sponsors who advocated for me in different roles at GE. Jacinth Smiley, EVP, CFO at Hormel Foods / Photo courtesy of Hormel Foods, The 5 best supplements for healthy aging, according to a longevity expert, Elon Musk says he learned a lot today after cancelling SpaceXs giant rocket launch at last minute. Jens expertise managing complicated supply chains, while also understanding the connectivity to sales and marketing strategy, will be incredibly valuable as we continue to focus on our One Supply Chain strategy.. The data is based on a survey of 2,050 small business consumers. He was elevated to his current role in 2017. RMI Cobalt Refiner Supply Chain Due Diligence Standard . Are you investing in technology for the finance function? Many companies were forced to make necessary shifts to their operations to accommodate sudden production challenges stemming from Covid-19 disruptions. The company released its first quarter of fiscal 2022earnings reporton Tuesday. And, are we aligned appropriately to drive the strategic priorities for the company? And really, truly ensuring that I cultivate an environment where everybody feels valued and inspired to be at their best. ABOUT HORMEL FOODS Inspired People. Neis will serve as an advisor to the company following the transition. I moved an average of every 18 to 20 months. We aim to continue to increase our purchasing spend annually with small and diverse businesses. The acquisition of Planters will add another $1 billion brand to Hormel Foods' portfolio and supply chain, which currently includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. The proposed transaction is expected to close in . He was promoted to senior vice president of its commodity and supply division in 2001 and was appointed to general manager in 2011 and promoted to president that same year. Smiley:What I do for most roles I step into is first, talk to the team about my leadership style, which is one of being very inclusive and empowering. During the first quarter, Hormel delivered record sales of $3 billion, a 24% increase. The total cash compensation, which includes bonus, and annual incentives, can vary anywhere from $271,333 to $440,723 with the average total cash compensation . We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.. At Hormel Foods, our multifaceted supply chain includes suppliers of hogs, turkeys, ingredients, packaging materials and transportation. Mr. Coffey is now working as senior vice president of supply chain and manufacturing and Ms. Ehresmanns current role is director of customer logistics and strategy. Visit our updated, Distributor/Logistics Provider of the Year, Food Automation & Manufacturing (FA&M) Conference & Expo. ABOUT HORMEL FOODS - Inspired People. Ehresmann joined the company in 2001, holding roles in export, product management and marketing prior to moving into supply chain. Please click here to continue without javascript.. Hormel Foods hires supply chain exec, Whole Foods appoints operations V-P., and more, Hormel Promotes Annemarie Vaupel to VP of Foodservice Marketing, and Jeff Frank to VP of Grocery Products, Peco Foods COO to retire, Earth Fare hires first-ever chief medical officer, Performance Food Group names president of foodservice, and more. An example of taking on a new role was leaving Albany, N.Y., where I was the CFO for licensing. KIEV, UKRAINE - 2018/12/26: In this photo, illustration, the Hormel Food company logo seen displayed on a smartphone. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. InQ1 2021, the company has had to absorb approximately $15 million in direct incremental supply chain costs primarily associated with lower production volumes and enhanced safety measures in its production facilities.

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