Its our role as leaders to make it easy for talent to understand whats possible in their career path. Inspired Food.. Previously, he held public company CFO positions at AtriCure and The Street, and at several private equity and venture-backed entities including Refinery29. 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.. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president later that year. The company lives by its purpose statement Inspired People. When I came to the U.S. in 1987, I was already set on going to a university and studying accounting.. Chief Financial Officer of C.H. Along with a consumer pivot to e-commerce that drove e-commerce sales over 100%, Hormel Foods' strategic responses to these insights led to its overall market share growth in key categories and strong double-digit growth in its retail brands. Sinead is currently EVP of finance in Shells global Upstream business. "We are focused on optimizing our supply chain in order to create an efficient, enterprise-wide structure that will keep pace with the growing needs of our business. The company released its first quarter of fiscal 2022earnings reporton Tuesday. View original content with multimedia:http://www.prnewswire.com/news-releases/hormel-foods-names-glenn-leitch-executive-vice-president-supply-chain-300559960.html. Hormel, headquartered in Austin, Minn., is a major processor and distributor of meat and other food products, with its goods sold in more than 80 countries. An example of taking on a new role was leaving Albany, N.Y., where I was the CFO for licensing. Maintain high standards for animal care and handling throughout our supply chain. 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. With over$1.1 billionin cash generated from operations in 2020, the Fortune 500 company made several strategic decisions and engaged in M&A activities, which helped return $487 million in dividends to its shareholders. 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. Senior Director of Communications Responsible Business Alliance . But our male counterparts, theyre the complete opposite. Its global supply chain will continue to be overseen by its One Supply Chain team. 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. I was asked to take on the integration of a business that they just bought in oil and gas in Houston. All Rights Reserved BNP Media. As part of our commitment to supply chain sustainability management, we require all ingredient suppliers to have third-party food safety audits. The base salary for Senior Vice President of Global Supply Chain Management in companies like HORMEL FOODS CORP range from $227,953 to $319,893 with the average base salary of $267,303. In addition, in 2021 we conducted eight food safety supplemental audits. 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. Full-year net sales, however, tallied $9.6 billion, up 1%, and organic net sales increased 2%. "We continue to strike a balance between the consumer demand we are seeing and our supply chain's ability to meet that demand," said James P. Snee, chairman, president and chief . We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.. In addition, we work closely with our palm oil and South American beef suppliers to ensure they comply with these principles as well as additional requirements we have outlined. The company also invested $368 million into capital projects. Earlier in her career, she was a research policy analyst and president at Marwood Group. AUSTIN, Minnesota , January 30, 2014 ( press release ) - Hormel Foods Corporation (HRL), today announced the upcoming retirements of William F. Snyder, senior vice president - supply chain, David P. Juhlke, vice president of human resources, and Michael L. Devine, vice president of operations - grocery products. data. "As a Fortune 500 global branded food company, we must take a leadership position in addressing climate change," Tom Raymond, Hormel's director of sustainability, tells Progressive Grocer. Jai Agarwalwas named CFO atClaros Mortgage Trust, Inc. (NYSE: CMTG). When Jacinth Smiley, EVP and CFO at Hormel Foods, was a high school student in Jamaica, she was drawn to numbers. Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide. 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. 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. 2023 Fortune Media IP Limited. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. Later, the IT team began phasing in Oracle Fusion Cloud Supply Chain Management (SCM). Hormel Foods continues to invest in flagship brands, anticipates $80m-$100m in supply chain disruption costs this year Hormel Foods reopens Illinois production facility after testing all employees . Thomas Eterginowas namedCFO at 1stDibs(Nasdaq: DIBS), an e-commerce company that sells luxury items. Glenns 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 todays changing marketplace, said Jim Snee, chairman of the board, president and chief executive officer of Hormel. By closing this message or continuing to use our site, you agree to the use of cookies. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Leitch has been a leader in the food industry and has been involved in numerous organizations, associations and boards. For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com. Hormel Foods is the No. According to Jim Snee, this strategic acquisition will contribute to Hormel Foods' evolution from a commodity-oriented, meat-centric company. Solidifies Companys Plans to Modernize and Optimize Global Supply Chain. 59 followers 55 connections. Leitch is currently group vice president, Hormel Foods and president, Jennie-O Turkey Store. She previously held the role of senior vice president of commodity and supply chain with Jennie-O Turkey Store. She previously held the role of senior vice president of commodity and supply chain with Jennie-O Turkey Store. Jen brings significant supply chain expertise to this role, Mr. Snee said. Hormel Foods Names Glenn Leitch, Executive Vice President Supply Chain, http://www.prnewswire.com/news-releases/hormel-foods-names-glenn-leitch-executive-vice-president-supply-chain-300559960.html. All Rights Reserved. In addition to ensuring our suppliers comply with the food safety standards recognized by the Global Food Safety Initiative (GFSI), we make a concerted effort to give diverse companies, such as small, women-owned, minority-owned and veteran-owned businesses, the opportunity to supply quality products that meet our companys growing business needs. 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. You mentioned the importance of data. We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.". 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. Hormel Foods Corporation is an equal opportunity employer. Were inspired by big ideas and small egos. I can tell you, I never, in my 20 years at GE, truly interviewed for one job. 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.. Steve Lykken to Lead Jennie-O Turkey Store. Design, CMS, Hosting & Web Development :: ePublishing. Smiley:We do. Steve Lykken to Lead Jennie-O Turkey Store. 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 Applegates senior leadership team. 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. Etergino will succeed Tu Nguyen, who will be taking on a new role outside of the company. How has the company handled supply chain challenges? The company's supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. Hormel Foods procurement, manufacturing, logistics, research and development, and quality management will report to Leitch. We have made significant progress toward this commitment and reached 77% of our goal at the end of 2021. Weve actually gone to towns and bused people from where they are living to the plant. Director of Supply Chain @ Rise Baking Company; see more . FORTUNE may receive compensation for some links to products and services on this website. Our leaders empower all of us to bring more to the table for employees, consumers, investors and the communities we call home. 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. Develops and implements a strategy to ensure that critical processes run effectively and achieve organizational goals and performance KPIs. 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. 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.". But, also finding opportunities for us to leverage technology such as RPA, machine learning, and A.I. Young plans to transition from his role as CFO once his successor is identified. Hormel CEO: Planters acquisition 'checks all the boxes for us' ( Feb 11, 2021, CNBC Television) This post is based on the Forbes article, Hormel Foods Unlocks Supply Chain Capacity To Drive $2.5 Billion Sales Growth, by Rose Celestin, March 16, 2021, and the YouTube video in the Spotlight. His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. The data is based on a survey of 2,050 small business consumers. ABOUT HORMEL FOODS Inspired People. Leitch has been a leader in the food industry and has been involved in numerous organizations, associations and boards. Glenn's expertise will be invaluable as we find ways to be more strategic, cost-effective and agile in preparing to meet the needs of today's changing marketplace.". All of our suppliers are required to follow our Supplier Code of Conduct to ensure the products and services we receive from them adhere to our commitments to responsible environmental and social performance. Hormel Foods values the long-standing relationships we have established with our suppliers. The One Supply Chain team will continue to oversee the company's global supply chain. "Jen brings significant supply chain expertise to this role," said Snee. 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. He served in his current position since 2017. Early in Mr. Leitchs career with Hormel, which began in 1996, he held multiple leadership positions with its turkey subsidiary, Jennie-O Turkey Store. Smiley:I was fortunate enough to have really good mentors and more importantly, sponsors who advocated for me in different roles at GE. Coffey has had a more than 30-year career with Hormel Foods. 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. Prior to joining Apollo, he was CFO and treasurer of CM Finance Inc. Agarwal also held several senior roles at Blackstones real estate finance group and Capital Trust, Inc. Eric Bauerwas named EVP and CFO atSharps Compliance Corp.(Nasdaq: SMED), a waste management solutions provider. Advance our antibiotic stewardship efforts and pilot an antibiotic use measurement and reporting system. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president later that year. He was promoted to his current position in 2017. Steve has a strong track record of success in the food industry, especially given his tenure at Jennie-O Turkey Store, said Snee. I had an accounting teacher, and she was just amazing, Smiley told me. Earlier in his career, Paris served as audit senior manager for Deloitte & Touche LLP. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. The company lives by its purpose statement Inspired People. Since the onset of the global pandemic last March, supply chains became unarmored against the unprecedented effects of fluctuating demand. Visit our privacy Inspired Food. to bring some of the world's most trusted and iconic brands to tables across the globe. He began his career with Hormel Foods in 1985 and held various operations, management and leadership positions at the company's operating facilities around the United States before moving into management and leadership positions at the company's global headquarters. 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. Organic net sales were down 4% for the quarter. June 16, 2022 Minneapolis, Minn.-based global logistics services provider and freight forwarder C.H. The business community weighs in. Smiley:From a long-term perspective, it has accelerated some things that we needed to do around automation. He joined Jennie-O Turkey Store in 1996 and was promoted to senior vice president of the commodity and supply division in 2001. I studied The Love Jones Cohort and found it was real: More Black Americans with higher education are choosing CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. We will continue working with our suppliers to reach our 100% traceability goal. this website. Lykken became president of Applegate in 2016 after being appointed chief operating officer in August 2015. Hormel Foods Surprises Community Nonprofits . Being a Supply Chain Director negotiates with . Agarwal will succeed J. Michael McGillis, who will continue in his role as president of CMTG. Hormel, headquartered in Austin, Minn., is a major processor and distributor of meat and other food products, with its goods sold in more than 80 countries. . The timing was, well, interesting: Hormel Foods forged ahead with its modernization despite being in the middle of a global . 63 publicly owned consumer goods company, and the changes go into effect Oct. 31, which is the beginning of the company's fiscal year. Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced a new strategic operating model, aligning its businesses to be more agile, consumer and customer focused, and market driven. 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 began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. 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. Wartburg College. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president that same year. Now, I had to integrate this business, and the people, including implementing SAP. And part of the priorities that I have for the team is really spending more time simplifying our processes. The work of this initiative improved production efficiencies, integrated new capacity, and leveraged strategic partnerships to increase production without compromising employee or food safety, according to Jim Snee, chairman of the board, president, and CEO of Hormel Foods. Coffey has had a more than 30-year career with Hormel Foods. ***Please take a few minutes to complete this short CFO Daily survey. Inspired Food. Hormel Address Bridgewater, NJ 08807 USA Industry Business View all jobs at Hormel 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,. In fact, in calendar year 2021 only 3% of our purchases were from new suppliers. Prior to joining the company, he served as SVP and CFO at Jason Group, Inc. And really, truly ensuring that I cultivate an environment where everybody feels valued and inspired to be at their best. By visiting this website, certain cookies have already been set, which you may delete and block. The Jennie-O supply chain has largely been run separately from the rest of the company's supply chain at Hormel Foods as it is vertically integrated. 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. Weve had to accelerate how we look at data and use that intelligence. I want to help manage your career. He became my sponsor through my entire 20 years there, and he is a white man. We also meet with our top suppliers annually to evaluate their initiatives and review service metrics along with diverse business spend and sustainability. What was at the top of your agenda when you became CFO? These generations are also spending at greater rates. Mr. Leitchs retirement is effective during the second quarter of 2021, according to the company. They will be focused on driving growth, arming the business with data and analytics to make strategic decisions and grow the top line and bottom line. Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. Jody Feragen, the first, retired in 2016. Since joining Hormel in 2001, Ms. Ehresmann worked in roles involving product exporting, management and marketing in addition to working as senior vice president of commodity and supply chain with Jennie-O Turkey Store. All Rights Reserved. I moved an average of every 18 to 20 months. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. This amount includes independent family-owned hog farms. 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,. In case you missed it, heres what was featured in CFO Daily this week: Levis CFO on how the company survived the pandemic, Targets CFO is laser-focused on talent and increasing wages, Should the SEC require companies to disclose ties to Russia? Leitch is well known in the food industry and has been involved in numerous organizations, associations and boards during his time with the company. I look forward to Steve bringing this expertise back to Jennie-O Turkey Store as he focuses on delivering against our key results.. "Hormel Foods is a distinctly different company than it was a decade ago, with a food forward, growth-oriented . 2023 Hormel Foods. The companys supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. More than 30 production facilities and co-packing partners make up Hormels supply chain, which produces thousands of diverse products to customers across the globe. to bring some of the world's most trusted and iconic brands to tables across the globe. Inspired Food.. Our Board of Directors is critical to the growth and development of our employees, our consistent returns to shareholders and the long-term success of the company. 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. Ray G. Young, CFOat ADM(NYSE: ADM), an agricultural origination and processing company, will assume the additional role of vice chairman, in which he will provide strategic counsel on major ADM initiatives. Current CFO Jessica Uhl will step down from her role on March 31, after five years as finance chief, and 17 years with the company. Notably, the company will align pork procurement and all plant operations for both Refrigerated Foods and Grocery Products into the newly created group. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. He became senior vice president of the retail division of Jennie-O Turkey Store in 2003. Completed initiatives have unlocked capacity and given the company the opportunity to fully meet demand. Since then, she has held several increasingly senior finance roles in all Shells major businesses, in Europe, North America and latterly globally. AUSTIN, MINN. - Hormel Foods Corp. has been hampered by supply chain constraints for much of the pandemic. I am truly sorry and committed to rebuilding your trust.". The other piece, too, is around being innovative on how we get labor from place to place. Sinead Gormanwasnamed the next CFOat Shell plc, effective April 1. Prior to joining Verifone, Patel held the position of finance director for the Telecom Consumer Premise Equipment business unit at Motorola. About Hormel . If appropriate corrective actions cannot be agreed to or are not made, Hormel Foods will suspend or discontinue purchases from the supplier. This includes environmental and social responsibility, as well as business drivers for the upcoming year. Mr. Snee said Mr. Coffey has proven his value to the company during his 30-plus year career at Hormel, which included working in operations and management roles, including working from the companys headquarters. ADM will begin a search for the next CFO, including internal and external candidates with the assistance of a leading independent search firm. 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. Copyright 2023. He also served as a private equity professional at Avista Capital Partners. For more information about our palm oil and South American beef sourcing requirements, please visit our corporate website. According to theFederal Reserve Bank of Kansas City, plant capacity utilization and U.S. food consumption trends drastically changed, which called for wide-ranging production modifications to meet demands. Before that, he served as managing director of mergers and acquisitions advisory in the Midstream Energy Group at Evercore Partners. 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.". All Rights Reserved. But regarding immediate challenges that weve faced, from a logistics standpoint, weve been flexible with how we actually secure trucks to transport goods. Jen Ehresmann, Hormel's VP of Supply Chain. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. We will report additional information about this initiative in future reports. In his new role, Mr. Coffey will lead Hormels One Supply Chain global operation. 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. this website, certain cookies have already been set, which you may delete and This website requires certain cookies to work and uses other cookies to All qualified applicants will receive consideration for employment without regard to race, color, age, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status. 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. 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