He also previously served as chief accounting officer and treasurer of DoubleClick. June 16, 2022 Minneapolis, Minn.-based global logistics services provider and freight forwarder C.H. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. So, I was also the leader from an IT perspective in getting this new system in place. 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. All Rights Reserved BNP Media. 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. Are you investing in technology for the finance function? Powered and implemented by Interactive Data Managed Solutions. The company's supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. (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 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 . The timing was, well, interesting: Hormel Foods forged ahead with its modernization despite being in the middle of a global . 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. 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. Bauer most recently served as EVP and CFO at Nuverra Environmental Solutions (NYSE: NES). When I came to the U.S. in 1987, I was already set on going to a university and studying accounting.. Smiley would go on to become a CPA and have a more than25-year career as a global senior finance executive. 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. Coffey has had a more than 30-year career with Hormel Foods. REUTERS/Brendan McDermid. All Rights Reserved. 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.". Chief Financial Officer of C.H. We do have customers with the ability to pick up their goods, but they werent. 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. The move is part of the company's plan to make its supply chain a strategic competitive . 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. 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. This includes executing the companys strategy and optimizing it to ensure sustainable growth into the future. 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. 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. Opinions expressed by Forbes Contributors are their own. By visiting this website, certain cookies have already been set, which you may delete and block. Hormel Foods is the No. I cover insights and advice for CFOs managing and building robust and resilient supply chains. Before that, he served as managing director of mergers and acquisitions advisory in the Midstream Energy Group at Evercore Partners. Our ingredient suppliers are subject to additional measurements to further ensure quality and food safety. The One Supply Chain team will continue to oversee the company's global supply chain. With acquisitions being a key part of Hormel Foods' growth strategy, the company believes it can attain supply chain, SG&A, and sales synergies to meet long-term organic growth targets. 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. R.J. Its brands include SKIPPY, SPAM, Hormel Natural Choice, Applegate, Justin's, Wholly, Hormel Black Label, Columbus and more than 30 other beloved brands. Notably, the company will align pork procurement and all plant operations for both Refrigerated Foods and Grocery Products into the newly created group. 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. Inspired Food. to bring some of the world's most trusted and iconic brands to tables across the globe. "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. He was promoted to his current position in 2017. 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? Leitch has been a leader in the food industry and has been involved in numerous organizations, associations and boards. ABOUT HORMEL FOODS Inspired People. The company's supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. Image source: gojak/iStock/Getty Images. "Jen brings significant supply chain expertise to this role," said Snee. Smiley:From a long-term perspective, it has accelerated some things that we needed to do around automation. Leitch is currently group vice president, Hormel Foods and president, Jennie-O Turkey Store. Sinead is currently EVP of finance in Shells global Upstream business. Subscribe to Food Business News' free newsletters to stay up to date about the latest food and beverage news. The company released its first quarter . FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. Terms & Conditions. 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. 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 . Do you currently have finance professionals who are able to now focus more on being business partners than manual work? Robinson Worldwide, Inc. 2023 Hormel Foods Corporation. So, the accounting function will be separated out and report into the Controllership function to allow the business finance leaders to fully partner with the business unit and supply chain leaders. We made a commitment to source only sustainable palm oil that is fully traceable to the plantation level by the end of 2025. Third-party audits may be conducted based on the results of these assessments. Incremental supply chain costs related to the pandemic continue to have an inevitable impact on its profitability. Leitch is well known in the food industry and has been involved in numerous organizations, associations and boards during his time with the company. Hormel Foods Corporation (NYSE: HRL) today announced that Glenn Leitch will lead the companys global supply chain as its executive vice president of supply chain. 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. "We also expect significant synergies as we integrate this business into our One Supply Chain and Project Orion system.". We use cookies to provide you with a better experience. FORTUNE may receive compensation for some links to products and services on this website. 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. 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.". Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. In his new role, Coffey will lead Hormels One Supply Chain global operation. 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. Leitch is currently group vice president, Hormel Foods and president, Jennie-O Turkey Store. 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? Copyright 2023. We aim to continue to increase our purchasing spend annually with small and diverse businesses. Previously, he held public company CFO positions at AtriCure and The Street, and at several private equity and venture-backed entities including Refinery29. 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. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. Continue to increase our purchasing spend annually with small and diverse businesses. 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. About Hormel . Notably, the meatpacking industry saw an enormous burden on producers and consumers, leading to reduced meat production and higher prices. this website. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com. 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. Alethia Youngwas namedCFO at Graphite Bio, Inc.(Nasdaq: GRPH), a clinical-stage gene editing company. Hormel Foods 45-Day Satisfaction Guarantee, California Transparency in Supply Chains Act of 2010. He was promoted to his current position in 2017. At Hormel Foods, our multifaceted supply chain includes suppliers of hogs, turkeys, ingredients, packaging materials and transportation. 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. For more information, visit www.hormelfoods.com. 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. Rising supply chain costs a key concern for C.P.G. Since then, she has held several increasingly senior finance roles in all Shells major businesses, in Europe, North America and latterly globally. 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. I am truly sorry and committed to rebuilding your trust.". I moved an average of every 18 to 20 months. 59 followers 55 connections. For more information about our palm oil and South American beef sourcing requirements, please visit our corporate website. The company also announced that Steve Lykken has been named senior vice president, Hormel Foods and president, Jennie-O Turkey Store. "He is a proven leader with expertise that encompasses all facets of the turkey business from supply chain to sales and marketing. 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. Maintain high standards for animal care and handling throughout our supply chain. Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. I want to help manage your career. He became my sponsor through my entire 20 years there, and he is a white man. We use cookies to provide you with a better experience. Inspired Food. - focusing on its legacy of innovation. Inspired Food.. Ehresmann joined the company in 2001, holding roles in export, product management and marketing prior to moving into supply chain. Lykken became president of Applegate in 2016 after being appointed chief operating officer in August 2015. Its our role as leaders to make it easy for talent to understand whats possible in their career path. "His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. 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. According to Jim Snee, this strategic acquisition will contribute to Hormel Foods' evolution from a commodity-oriented, meat-centric company. Sign up to get it delivered free to your inbox. We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.. Ehresmann joined the company in 2001, holding roles in export, product management and marketing prior to moving into supply chain. As part of our commitment to supply chain sustainability management, we require all ingredient suppliers to have third-party food safety audits. Jai Agarwalwas named CFO atClaros Mortgage Trust, Inc. (NYSE: CMTG). 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. In fact, in calendar year 2021 only 3% of our purchases were from new suppliers. She started her career as a civil engineer before embarking on a finance career when she joined Shell in 1999. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president that same year. Effective Oct. 31, 2022, the beginning of fiscal 2023, the company is transitioning to three operating segments - Retail, Foodservice and International. Leitch is well known in the food industry and has been involved in numerous organizations, associations and boards during his time with the company. Etergino will join the company later this month. ABOUT HORMEL FOODS - Inspired People. We report our internal results through a third party for our customers. When Jacinth Smiley, EVP and CFO at Hormel Foods, was a high school student in Jamaica, she was drawn to numbers. in order to automate as much as possible to reduce some of the manual work. Lykken was most recently president of Applegate, a Hormel Foods company. In addition, in 2021 we conducted eight food safety supplemental audits. Ehresmann joined the company in 2001, holding roles in export, product management and marketing prior to moving into supply chain. "Mark has had an outstanding career with Hormel Foods," Snee said. In 2021, we implemented an online survey assessment process with our suppliers to evaluate their environmental, social and governance (ESG) performance. 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. Snee said the company will leverage its One . You mentioned the importance of data. Chad Pariswas named the next CFO atThe Marcus Corporation(NYSE: MCS). Later, the IT team began phasing in Oracle Fusion Cloud Supply Chain Management (SCM). Hormel Address Bridgewater, NJ 08807 USA Industry Business View all jobs at Hormel "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.". For example, in 2020, company research showed that consumers became increasingly more loyal to the SPAM, Skippy, Jennie-O, Applegate, Columbus, and Hormel Black Label brands since consumers shifted to eating home-prepared meals due to Covid lockdowns and restrictions. 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. Hormel Foods procurement, manufacturing, logistics, research and development, and quality management will report to Leitch. 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. However, Hormel Foods' demonstrated ability to price their categories after implementing a price increase led to a 7% sales increase and a 4% volume increase across the SPAM, SKIPPY, Hormel Compleats, and Herdez brands. She spent 20 years with General Electric (GE) andwas VP and chief accounting officer for LyondellBasell, prior tojoining Hormel in April 2021 as group vice president of corporate strategy. 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. "His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. Shes the companys second female CFO. Smiley:We do. Full-year net sales, however, tallied $9.6 billion, up 1%, and organic net sales increased 2%. Mr. Leitchs retirement is effective during the second quarter of 2021, according to the company. We have made significant progress toward this commitment and reached 77% of our goal at the end of 2021. Offers may be subject to change without notice. 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. 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. Sinead Gormanwasnamed the next CFOat Shell plc, effective April 1. Additionally, Hormel Foods is also expanding with itsacquisition of Planters, which is expected to close in Q2 2021, subject to regulatory review and approval. Despite absorbing$80 million - $100 millionin supply chain disruption costs in 2020 due to several of its plant facilities' closures, the company continued to flourish through its One Supply Chain initiative. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. In 2021 alone, we recognized 61 suppliers for their performance. We also meet with our top suppliers annually to evaluate their initiatives and review service metrics along with diverse business spend and sustainability. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president that same year. Agarwal will succeed J. Michael McGillis, who will continue in his role as president of CMTG. 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 James P. Snee, chairman of the board, president and chief executive officer of Hormel. 2023 Hormel Foods Corporation. 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. . 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. data. Hormel's Glenn Leitch, SVP, Supply Chain, is retiring from the company in Q2 this year. 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.". 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. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. 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.. and cookie policy to learn more about the cookies we use and how we use your 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. 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. 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. Prior to joining Verifone, Patel held the position of finance director for the Telecom Consumer Premise Equipment business unit at Motorola. By visiting 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 requires certain cookies to work and uses other cookies to It reported net sales of $11.4 billion in fiscal 2021, a year-over-year increase of 19%. The company also announced that Steve Lykken has been named senior vice president, Hormel Foods and president, Jennie-O Turkey Store. C.H. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/. He served in his current position since 2017. We will report additional information about this initiative in future reports. 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. Our leaders empower all of us to bring more to the table for employees, consumers, investors and the communities we call home. Prior to joining Cantor Fitzgerald in 2018, Young held senior biotech analyst positions at Credit Suisse and Deutsche Bank. , manufacturing, logistics, research and development, and organic net sales however... Operations for both Refrigerated Foods and president, Hormel Foods Corporation (:... On this website, certain cookies have already been set, which you may delete block. With our before embarking on a finance career when she joined Shell in 1999 and committed to rebuilding your hormel director of supply chain. Impact on its profitability to increase our purchasing spend annually with small and diverse businesses in. 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