Hormel Foods Announces New Business Structure
Austin, Minn. | October 11, 2011
Hormel Foods Corporation (NYSE: HRL) today announced a new business structure that will result in Grocery Products and Consumer Products Sales reporting to Steven G. Binder. In recognition of these new responsibilities, Binder is being promoted to the position of executive vice president and president of Hormel business units. He will continue to be responsible for the company’s Refrigerated Foods business segment. The change is effective Oct. 31, 2011.
“We are excited to deploy Steve’s many talents to this broader area of our business,” said Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. “This change aligns with our efforts to create a more unified approach to the marketing and sales of Hormel® and other branded products, and will also support our ability to optimize raw materials.”
Binder joined Hormel Foods in 1979 and progressed through numerous sales and management positions within the foodservice and meat products groups. In 1998, he was named vice president of the foodservice group, responsible for overseeing its growth, profitability and strategic direction. In 2000, he was named group vice president of the foodservice group and was appointed in 2007 as group vice president of Refrigerated Foods. He assumed his current position in 2010.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace. The company is a member of the Standard & Poor's 500 Index, Dow Jones Sustainability Indexes, Maplecroft Climate Innovation Indexes, Global 1000 Sustainable Performance Leaders and was named one of "The 100 Most Trustworthy Companies" by Forbes in 2010. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit http://www.hormelfoods.com