We made a commitment to source only sustainable palm oil that is fully traceable to the plantation level by the end of 2025. He joined Jennie-O Turkey Store in 1996 and was promoted to senior vice president of the commodity and supply division in 2001. As part of our commitment to supply chain sustainability management, we require all ingredient suppliers to have third-party food safety audits. But, also finding opportunities for us to leverage technology such as RPA, machine learning, and A.I. 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. 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. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. 2023 Fortune Media IP Limited. 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.. At Hormel Foods, our multifaceted supply chain includes suppliers of hogs, turkeys, ingredients, packaging materials and transportation. 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. 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. Being a Supply Chain Director negotiates with . 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? All Rights Reserved. Previously, he held public company CFO positions at AtriCure and The Street, and at several private equity and venture-backed entities including Refinery29. Before that, he served as managing director of mergers and acquisitions advisory in the Midstream Energy Group at Evercore Partners. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. The One Supply . Leitch is well known in the food industry and has been involved in numerous organizations, associations and boards during his time with the company. Smiley officially began as finance chief in January, succeeding Jim Sheehan, who retired from Hormel at the end of 2021. Coffey is now working as senior vice president of supply chain and manufacturing and Ehresmanns current role is director of customer logistics and strategy. In partnership, we deliver quality products and add value to society. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. By closing this message or continuing to use our site, you agree to the use of cookies. It goes back to leaders who say, I think that youre capable of doing this. Suppliers that exceed our established standards are eligible for our annual Hormel Foods Spirit of Excellence Awards. We have established supplier quality management (SQM), which evaluates our suppliers based on quality, delivery, service, technology and price. 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,. 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. 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. 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. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. For additional information about our supply chain, please visit our corporate website. this website. R.J. Lykken became president of Applegate in 2016 after being appointed chief operating officer in August 2015. In 2021 alone, we recognized 61 suppliers for their performance. This includes executing the companys strategy and optimizing it to ensure sustainable growth into the future. 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. 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. But regarding immediate challenges that weve faced, from a logistics standpoint, weve been flexible with how we actually secure trucks to transport goods. to bring some of the world's most trusted and iconic brands to tables across the globe. 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. Third, establishing our vision. Coffey has had a more than 30-year career with 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. Douglas A. Neis, current EVP and CFO, will retire on May 15, after 36 years of service. 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. 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. All Rights Reserved. Advance our antibiotic stewardship efforts and pilot an antibiotic use measurement and reporting system. 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. 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. Robinson Worldwide, Inc. 2023 Hormel Foods Corporation. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. "Mark has had an outstanding career with Hormel Foods," Snee said. However, Hormel Foods Corporation, a leading global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide, is among many companies that made strategic shifts to meet consumer preferences and maintain their competitive edge. Hormel Foodsannounced that Glenn Leitch, executive vice president of supply chain, will retire during the second calendar quarter of 2021. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. The timing was, well, interesting: Hormel Foods forged ahead with its modernization despite being in the middle of a global . Gross profit increased $89 million compared to last year, a 20% increase. His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role, Mr. Snee said. Mr. Leitchs retirement is effective during the second quarter of 2021, according to the company. "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. Agarwal most recently served as the CFO, treasurer, and secretary of Apollo Commercial Real Estate Finance, Inc. In fact, in calendar year 2021 only 3% of our purchases were from new suppliers. The company's supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. C.H. 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 I recently talked with Smiley, who also oversees IT, about her first task as CFO, navigating supply chain issues, and mentoring. Continue to increase our purchasing spend annually with small and diverse businesses. 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. 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.". (In June,Hormel acquiredthe Planters snacking portfolio from the Kraft Heinz Company.). Young joins Graphite Bio from Cantor Fitzgerald, where she served as senior biotech analyst and head of research. 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. 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. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president that same year. Early in Leitchs career with Hormel, which began in 1996, he served in multiple leadership positions with its turkey subsidiary, Jennie-O Turkey Store. "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. Rising supply chain costs a key concern for C.P.G. This is the web version of CFO Daily, a newsletter on the trends and individuals shaping corporate finance. Inspired Food. 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. ADM will begin a search for the next CFO, including internal and external candidates with the assistance of a leading independent search firm. In 2011, he was named general manager at Jennie-O Turkey Store before being promoted to president later that year. Copyright 2023. Senior Director of Communications Responsible Business Alliance . He was promoted to his current position in 2017. 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. Maintain high standards for animal care and handling throughout our supply chain. Powered and implemented by Interactive Data Managed Solutions. I moved an average of every 18 to 20 months. He was promoted to senior vice president of its commodity and supply division in 2001 and was named general manager in 2011 and promoted to president that same year. He became senior vice president of the retail division of Jennie-O Turkey Store in 2003. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/. Terms & Conditions. We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.. and cookie policy to learn more about the cookies we use and how we use your The move is part of the company's plan to make its supply chain a strategic competitive . We will report additional information about this initiative in future reports. Agarwal will succeed J. Michael McGillis, who will continue in his role as president of CMTG. Since then, she has held several increasingly senior finance roles in all Shells major businesses, in Europe, North America and latterly globally. 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. 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