Short answer
Hormel Foods (HRL) filed an 8-K current report with the SEC on July 28, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). John F. Ghingo appointed CEO effective October 26, 2026, transitioning from President and maintaining his Board seat.
Hormel Foods 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- John F. Ghingo appointed CEO effective October 26, 2026, transitioning from President and maintaining his Board seat
- Interim CEO Jeffrey M. Ettinger exits the role October 25, 2026, but remains a director
- Base salary rises from $730,000 to $1.2 million, with 2026 short-term incentive target increasing to 150%
- Ongoing CEO package includes $1.28 million base salary, 150% annual incentive target, and $6.8 million long-term incentive target
- Long-term awards split 50% performance cash, 25% stock options, and 25% restricted stock units; severance factor set at 2x
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