1. Brian Johnson retires after 30 years at Hormel Foods. 2. He significantly contributed to corporate governance and compliance. 3. Hormel Foods generates approximately $12 billion annually worldwide. 4. The company is known for its corporate responsibility initiatives. 5. Hormel is part of the S&P 500 and Dividend Aristocrats.
Leadership changes can create uncertainty but Johnson's tenure was stable.
While important, leadership changes typically do not drastically affect stock prices.
Transitioning leadership may cause temporary operational adjustments.
AUSTIN, Minn., Jan. 20, 2025 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced the upcoming retirement of Brian Johnson, vice president and corporate secretary.
"Throughout his 30-year career at Hormel Foods, Brian has been a trusted advisor to me, our executives and our Board of Directors," said Jim Snee, chairman of the board, president, and chief executive officer at Hormel Foods. "Brian has earned tremendous respect internally, externally, and with our Board of Directors, for his expertise, sound judgment, integrity and dedication. Brian and his wife Ann have been an integral part of the Austin, Minnesota, community, making it an even better place thanks to their involvement and support. We congratulate Brian on a remarkable career and wish him and Ann all the best in this next chapter."
As vice president and corporate secretary, Johnson has responsibility for corporate governance, including advising the company's Board of Directors, as well as securities laws compliance and financing matters for Hormel Foods. He also serves on the company's disclosure, compliance, and global impact committees.
Johnson started with Hormel Foods in 1995 as a corporate attorney and was promoted to senior attorney in 2000. He advanced to assistant secretary in 2005 and to corporate secretary in 2007. Johnson was named vice president and corporate secretary in 2010. He is a graduate of Minnesota State University, Mankato, where he received a Bachelor of Science degree, cum laude, with majors in accounting, finance and real estate/insurance, and minors in economics and political science. He earned certified public accountant designation in 1984. Johnson graduated magna cum laude and Order of the Coif with a J.D. degree from the University of Minnesota Law School in 1991. He is a member of the Minnesota State Bar Association, Association of Corporate Counsel, and Society for Corporate Governance.
— Inspired People. Inspired Food.™ Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with approximately $12 billion in annual revenue across more than 80 countries worldwide. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURAL CHOICE®, APPLEGATE®, JUSTIN'S®, WHOLLY®, HORMEL® BLACK LABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report, one of America's most responsible companies by Newsweek, recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit hormelfoods.com.
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SOURCE Hormel Foods Corporation