Hormel Foods Announces Retirement of Fred Halvin, Vice President of Corporate Development

Rhea-AI Summary

Hormel Foods Corporation (NYSE: HRL) announced the retirement of Fred Halvin, vice president of corporate development, after 37 years with the company. Nathan Annis, director of investor relations, will succeed Halvin. Halvin played a critical role in Hormel's major acquisitions, including the Planters snack nuts business, the largest in the company's history, completed in 2021. Annis will lead strategic planning, mergers and acquisitions, and ensure ongoing growth through acquisitions. Hormel Foods continues to maintain over $11 billion in annual revenue and remains a key player in the branded food industry.

Positive

• Successful transition in corporate leadership with Nathan Annis taking over as VP of corporate development.
• Fred Halvin's legacy includes the significant Planters acquisition, bolstering Hormel's market position.
• Hormel Foods maintains a strong financial position with over $11 billion in annual revenue.

Negative

• None.

AUSTIN, Minn., Feb. 4, 2022 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced that Fred Halvin, vice president of corporate development, will be retiring after a 37-year career with the company. Nathan Annis, director of investor relations, business planning and analysis, will succeed Halvin as vice president of corporate development.

"Fred has been a key leader for all of our transformational acquisitions over the past decade and has been instrumental in the Hormel Foods journey to become the global branded food company that we are today," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. "I wish Fred all the best in his retirement and thank him for his outstanding contributions over the last 37 years."

Halvin most recently led the company's acquisition of the Planters^® snack nuts business, the largest acquisition in the company's history, which was completed in 2021. Some of the other notable acquisitions led by Halvin during his tenure are: Columbus Craft Meats, Applegate, Skippy Foods, Fontanini Foods, Justin's, Sadler's Smokehouse, Fresherized Foods and Cidade do Sol, maker of the Ceratti^® brand.

As vice president of corporate development, Annis will assume responsibility for strategic planning, mergers and acquisitions, divestitures, joint ventures and strategic partnerships. He will also be responsible for ensuring the Hormel Foods pipeline for growth through acquisitions continues as part of its overall strategic imperatives.

"The pathway from investor relations into corporate development has proven to be a successful model for Hormel Foods, and one that will continue with Nathan, as he brings his own unique skillset to the role," said Snee. "Nathan has an impressive understanding of the industry, strong analytical, finance and business planning skills, and a keen understanding of our financial and growth imperatives. I am confident he is well-positioned to be successful in this important role."

About Fred Halvin

Halvin started his career with Hormel Foods in 1985 in accounting, later moving to the Corporate Office in cost accounting. In 1996, he was named manager of the tax department, where he was responsible for compliance and the filing of all local, state and federal returns. In 1999, he advanced to assistant controller and in 2000, to treasurer of the company. In late 2000, he was named director of economic value added and given additional responsibilities as director of investor relations in 2001. The addition of mergers and acquisitions and strategy was effective in 2007. Halvin was named director of corporate development in 2008 and assumed his current role in 2012. He holds a Bachelor of Arts degree with a concentration in accounting from Midland University.

About Nathan Annis

Annis started with Hormel Foods in 2006 as senior financial analyst at the Hormel Foods Corporate Office and was named director of marketing for the company's Dan's Prize subsidiary in 2010. Two years later, Annis was named corporate manager of financial analysis. He advanced to director of investor relations in 2016 and assumed his current role in 2019. Prior to joining Hormel Foods, Annis worked as an analyst for the U.S. Department of Defense. He holds a Bachelor of Arts degree in mathematics from Gustavus Adolphus College, a Master of Science degree in operations research from George Mason University and a Master of Business Administration degree from the University of Minnesota's Carlson School of Management. He is a member of the Hormel Historic Home Board of Trustees and the Austin Community Growth Ventures Board of Directors.

About Hormel Foods – Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $11 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^® 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 on the "Global 2000 World's Best Employers" list by Forbes magazine for three 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, 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 www.hormelfoods.com and http://csr.hormelfoods.com/.

Contact: Media Relations
507-434-6352
media@hormel.com

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SOURCE Hormel Foods Corporation

FAQ

Who is the new VP of corporate development for Hormel Foods?

Nathan Annis has been appointed as the new VP of corporate development at Hormel Foods.

What major acquisition did Fred Halvin lead at Hormel Foods?

Fred Halvin led the acquisition of the Planters snack nuts business, which is the largest acquisition in Hormel's history.

When did Fred Halvin retire from Hormel Foods?

Fred Halvin announced his retirement on February 4, 2022.

What is the annual revenue of Hormel Foods?

Hormel Foods has over $11 billion in annual revenue.