8-KItem 5.02 · Officer/Director Change
Hormel names John Ghingo CEO effective October 26
Filed with the SEC on · Summarized by InvestorsBot
Hormel Foods appointed current President and director John F. Ghingo, 53, as president and chief executive officer effective October 26, 2026; interim CEO Jeffrey M. Ettinger will step down from that role on October 25 but remain on the board. Ghingo’s base salary will increase from $730,000 to $1.2 million effective July 27, then to an initial CEO rate of $1.28 million, with a 150% annual incentive target and a $6.8 million long-term incentive target, split among performance cash, stock options and restricted stock units.