The head of Hormel Foods’ largest division is retiring this fall amid declining sales and a multiyear plan to “transform and modernize” the Austin, Minn.-based food company.
Hormel’s head of retail retiring amid company transformation
Former Applegate president John Ghingo will replace Deanna Brady this fall.
The Minnesota Star Tribune
August 20, 2024 at 11:31AM
![Hormel headquarters in Austin, MN. ] GLEN STUBBE * gstubbe@startribune.com Friday September 11, 2015 Despite woes throughout the food industry, partly due to consumers turning away some from processed foods, Hormel has managed to continue prospering -- even though a good part of its business -- Spam, chili -- is about as processed as you can get. But the company's turkey and pork offerings are riding a hot protein trend. And over the past two years, it's made some of the biggest acquisitions in](https://arc.stimg.co/startribunemedia/527MWWMEXAN6BDVVGMMGBOERGU.jpg?&w=712)
Deanna Brady, who has led Hormel’s $8 billion retail business since late 2022, will retire at the end of October.
“She has guided numerous businesses to record growth and has managed multi-billion-dollar divisions,” CEO Jim Snee said in a statement. “While her business achievements are impressive, it is the culture that she has built that will continue to inspire us. Her impact will be felt long after she steps into this well-deserved next chapter.”
Brady started with Hormel in 1996 as a foodservice territory manager in Pennsylvania and ended up leading the foodservice division in 2015. She became executive vice president of retail in 2022.
John Ghingo, the president of Hormel-owned Applegate Farms from 2018-22, will return to Hormel to lead the retail division.
The maker of Spam, Skippy peanut butter and Planters nuts is aiming for a $250 million boost to operating income by 2026 after a choppy few years navigating pandemic disruptions and consumer pushback on price increases.
“I am confident that John is the ideal person to drive continued focus, innovation and growth within the retail segment,” Snee said.
The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for American consumers.
