Spam maker Hormel Foods is promoting President John Ghingo to chief executive officer, aiming to further grow and innovate its 135-year-old business amid a challenging time for the broader food industry.
Ghingo will take the helm on Oct. 26, succeeding interim CEO Jeffrey Ettinger. Ettinger returned last July to lead the company on a short-term basis after the retirement of longtime leader Jim Snee. Ghingo is no stranger to the organization, having previously served as president of Applegate, the company’s organic and natural meat brand, for four years before leaving in 2022. He rejoined Hormel two years later as executive vice president of the retail business unit.
The executive has been with the firm for just over a year as president, a role in which he led the company’s supply chain, oversaw its business units, and guided efforts to support growth and better serve consumers. Ghingo is also no stranger to the consumer packaged goods sector, bringing more than 25 years of experience in the industry, including 16 years at Mondelēz International.
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Ettinger, who will continue serving on Hormel’s board after the transition, said in a statement he has “great confidence in John’s ability to lead the company into its next chapter.” He noted that over the past year, he has worked closely with Ghingo and seen his commitment to the company’s culture, people and portfolio.
During his tenure as president, Ghingo led Hormel through six consecutive quarters of organic sales growth. The company has benefited from an extensive portfolio of products, including nuts, stews, peanut butters and meats, which are tied to an insatiable demand for protein. Despite these positive figures, the broader food setting is turbulent, facing a decline in consumer spending and volatile commodity costs that have plagued the sector.
While Ghingo said he is excited about the future, he emphasized that he never aspired to the top role. “For me it was never about climbing the ladder or trying to achieve some size of business or scope of role,” he said. “It really was about actually winning in the marketplace, delighting consumers and building great brands.”
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Future strategy and investment
In an interview, Ghingo described Hormel as a unique company, noting that its portfolio, culture and presence in a diversity of channels separate it from competitors. He said the strategy is “in a good place” and plans to “accelerate” investments in critical areas such as technology, data and artificial intelligence.
He added that his experience building brands and driving innovation, coupled with his time at Hormel, puts him in a unique spot. “I can bring best practices in from certain areas, new thinking from certain areas and really help accelerate the growth of Hormel,” he said.
For employees and consumers watching the company’s direction, this stability could prove vital. The transition comes as the food industry faces headwinds that require steady hands to handle shifting consumer preferences and economic pressures. By leaning on a leader who has spent two decades in the sector and understands the specific demands of the Hormel brand, the company aims to maintain its momentum as it moves into its next chapter.