Hormel Foods appoints John F. Ghingo as President and CEO, effective Oct 26, 2026

HORMEL FOODS CORP /DE/

John F. Ghingo, current President, named CEO effective Oct 26, 2026; Jeffrey M. Ettinger's interim CEO role ends Oct 25, 2026.
Ghingo's annual base salary increased to $1.2M immediately, then to $1.28M as CEO; short-term target raised to 150% of base.
Long-term incentive target set at $6.8M annually, split 50% cash, 25% stock options, 25% restricted stock units.
Ghingo eligible for Executive Severance Plan with severance factor of 2x; personal aircraft use up to $150K incremental cost.
Ghingo brings over 20 years CPG experience; previously CEO of Whisps Acquisition Corp and President of Applegate Farms.

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