Douglas A. Neis, current EVP and CFO, will retire on May 15, after 36 years of service. Smiley:Yes, absolutely. I am truly sorry and committed to rebuilding your trust.". "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. Incremental supply chain costs related to the pandemic continue to have an inevitable impact on its profitability. Hormel Foods Announces the Retirement of Glenn Leitch, Executive Vice President, Supply Chain, 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, http://www.prnewswire.com/news-releases/hormel-foods-announces-the-retirement-of-glenn-leitch-executive-vice-president-supply-chain-301219416.html. We thank him for his leadership and his expertise and wish him the very best in his well-deserved retirement.". He became senior vice president of the retail division of Jennie-O Turkey Store in 2003. Ehresmann is currently director of customer logistics and strategy at Hormel Foods. Hormel Foods Surprises Community Nonprofits . How has the company handled supply chain challenges? 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. As generations change and technology continues to evolve, people want to do work that adds value. Agarwal will succeed J. Michael McGillis, who will continue in his role as president of CMTG. 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. "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.". Maintain high standards for animal care and handling throughout our supply chain. 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. Since the onset of the global pandemic last March, supply chains became unarmored against the unprecedented effects of fluctuating demand. He was promoted to his current position in 2017. Lykken became president of Applegate in 2016 after being appointed chief operating officer in August 2015. Thomas Eterginowas namedCFO at 1stDibs(Nasdaq: DIBS), an e-commerce company that sells luxury items. In 2021 alone, we recognized 61 suppliers for their performance. All rights reserved. Do you currently have finance professionals who are able to now focus more on being business partners than manual work? In his new role, Mr. Coffey will lead Hormels One Supply Chain global operation. 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. Any advice for women on the road to the C-suite? She previously held the role of senior vice president of commodity and supply chain with Jennie-O Turkey Store. (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 . In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. She previously held the role of senior vice president of commodity and supply chain with Jennie-O Turkey Store. 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. Coffey has had a more than 30-year career with Hormel Foods. 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. Robinson Worldwide, Inc. 2023 Hormel Foods Corporation. Its our role as leaders to make it easy for talent to understand whats possible in their career path. 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. Lykken was most recently president of Applegate, a Hormel Foods company. Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. 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. Image source: gojak/iStock/Getty Images. Develops and implements a strategy to ensure that critical processes run effectively and achieve organizational goals and performance KPIs. Early in Leitchs career with Hormel, which began in 1996, he served in multiple leadership positions with its turkey subsidiary, Jennie-O Turkey Store. Sinead is currently EVP of finance in Shells global Upstream business. 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.. 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. Completed initiatives have unlocked capacity and given the company the opportunity to fully meet demand. Hormel Foods procurement, manufacturing, logistics, research and development, and quality management will report to Leitch. It reported net sales of $11.4 billion in fiscal 2021, a year-over-year increase of 19%. "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. Earlier in his career, Paris served as audit senior manager for Deloitte & Touche LLP. Inspired Food. - focusing on its legacy of innovation. Our management team fosters an environment where careers flourish and innovative ideas come to life. Later, the IT team began phasing in Oracle Fusion Cloud Supply Chain Management (SCM). Additionally, Jen Ehresmann was named to vice president of supply chain. We use cookies to provide you with a better experience. The One Supply . All Rights Reserved BNP Media. He also previously served as chief accounting officer and treasurer of DoubleClick. We will continue working with our suppliers to reach our 100% traceability goal. This amount includes independent family-owned hog farms. 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. Many companies were forced to make necessary shifts to their operations to accommodate sudden production challenges stemming from Covid-19 disruptions. I had never done integration. Mehul Patelwas named CFO atMinim, Inc., (Nasdaq: MINM), a creator of WiFi software and Motorola home networking products, effective March 21. We have made significant progress toward this commitment and reached 77% of our goal at the end of 2021. Hormel Foods is the No. Lykken began his career at Hormel Foods in 1992 in the Grocery Products segment, later leading trade management and marketing for Hormel Foods. 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. Early in Mr. Leitchs career with Hormel, which began in 1996, he held multiple leadership positions with its turkey subsidiary, Jennie-O Turkey Store. 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? The company also invested $368 million into capital projects. Third-party audits may be conducted based on the results of these assessments. "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. 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. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images). All Rights Reserved. June 16, 2022 Minneapolis, Minn.-based global logistics services provider and freight forwarder C.H. 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. 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. ABOUT HORMEL FOODS Inspired People. His expertise in procurement, manufacturing, logistics, research and development, quality management and plant operations makes him the ideal person to assume this important role. 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,. The company's supply chain includes more than 30 production facilities and co-packing partners, producing thousands of products sold worldwide. and cookie policy to learn more about the cookies we use and how we use your 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. Prior to joining Verifone, Patel held the position of finance director for the Telecom Consumer Premise Equipment business unit at Motorola. 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. 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. 2023 Fortune Media IP Limited. "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.". 2023 Hormel Foods Corporation. The company released its first quarter . I was asked to take on the integration of a business that they just bought in oil and gas in Houston. 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. . Agarwal most recently served as the CFO, treasurer, and secretary of Apollo Commercial Real Estate Finance, Inc. Chief Financial Officer of C.H. Since then, she has held several increasingly senior finance roles in all Shells major businesses, in Europe, North America and latterly globally. 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 . Hormel Foods Corporation is an equal opportunity employer. In addition, to ensure compliance with our sourcing principles, Hormel Foods will require suppliers to assess plantations in its supply chain (through internal and external assessment teams) and submit reports and findings annually, which will be reviewed by the Hormel Foods Palm Oil Council. He served in his current position since 2017. The other piece, too, is around being innovative on how we get labor from place to place. I can tell you, I never, in my 20 years at GE, truly interviewed for one job. About 71% of Gen Z and 68% of millennial respondents prefer cashless payment options when paying for larger services like home repairs. It expanded production capacity and enhanced capabilities for two major supply chain milestones, including opening a new dry sausage production facility in Omaha, Nebraska, and opening its pizza toppings expansion at Burke corporation manufacturing facility in Iowa. Leitchs retirement is effective during the second quarter of 2021, according to the company. It goes back to leaders who say, I think that youre capable of doing this. Subscribe to Food Business News' free newsletters to stay up to date about the latest food and beverage news. Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. However, the pandemic has also bred consumer behavior changes, driving higher and sustained retail sales in all four of Hormel Foods' segments. Leitch has been a leader in the food industry and has been involved in numerous organizations, associations and boards. "Hormel Foods is a distinctly different company than it was a decade ago, with a food forward, growth-oriented portfolio of leading brands and products that are aligned with our customer and consumer needs," said Jim Snee, Chairman of the board, President and Chief . As they have aged and advanced in their careers, their purchasing power has grown significantly, according to the report. All Rights Reserved. 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. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Ehresmann is currently director of customer logistics and strategy at Hormel Foods. But regarding immediate challenges that weve faced, from a logistics standpoint, weve been flexible with how we actually secure trucks to transport goods. 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. to bring some of the world's most trusted and iconic brands to tables across the globe. 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.". We made a commitment to source only sustainable palm oil that is fully traceable to the plantation level by the end of 2025. Advance our antibiotic stewardship efforts and pilot an antibiotic use measurement and reporting system. Coffey is now working as senior vice president of supply chain and manufacturing and Ehresmanns current role is director of customer logistics and strategy. C.H. 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. 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. 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.. He held his current position since 2017. We have established supplier quality management (SQM), which evaluates our suppliers based on quality, delivery, service, technology and price. Copyright 2023. 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. Secondly, I assess the talent because I think thats so critical to just figuring out, do we have the right folks in the right seat to be able to partner with the business? Organic net sales were down 4% for the quarter. Jai Agarwalwas named CFO atClaros Mortgage Trust, Inc. (NYSE: CMTG). 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. Jens 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.. Hormel Foods 8 years 8 months Retired Director of Finance - Supply Chain Jul 2022 - Present10 months Austin, Minnesota, United States Director of Finance - Supply Chain Mar 2018 - Jul. Leitch is currently group vice president, Hormel Foods and president, Jennie-O Turkey Store. Since joining Hormel in 2001, 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. 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 45-Day Satisfaction Guarantee, California Transparency in Supply Chains Act of 2010. It always resulted from someone thinking of me for roles that were available and asking me if I had interest. For more information about our supply chain, please visit our corporate, Hormel Foods 45-Day Satisfaction Guarantee. The move is part of the company's plan to make its supply chain a strategic competitive . For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com. All Rights Reserved BNP Media. Young joins Graphite Bio from Cantor Fitzgerald, where she served as senior biotech analyst and head of research. Previously, he held public company CFO positions at AtriCure and The Street, and at several private equity and venture-backed entities including Refinery29. 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. We were the ones delivering the goods to them. 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. 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. A new study by Thryv Holdings, Inc. (Nasdaq: THRY) and Payments Dive found younger consumers are driving the trend of digital payments. 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.". And actually part of the organization structure that Im getting ready to announce soon bifurcates the roles and responsibilities. Robinson (CHR) recently heralded significant progress it has made its delivery of digital quotes, for both over the past year and also the first . Glenns expertise will be invaluable as we find ways to be more strategic, cost-effective and agile in preparing to meet the needs of todays changing marketplace.. Smiley would go on to become a CPA and have a more than25-year career as a global senior finance executive. When Jacinth Smiley, EVP and CFO at Hormel Foods, was a high school student in Jamaica, she was drawn to numbers. 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