Hormel parts ways with CFO; warns of persistent inflation impacts

Group 1 - Hormel Foods has appointed Paul Kuehneman as interim CFO following the resignation of Jacinth Smiley, effective October 27 [6][7] - Kuehneman has a long history with Hormel, having joined in 2009 and previously serving as CFO for the subsidiary Jennie-O Turkey [4][5] - The company is facing significant challenges, including persistent inflation in key commodity inputs, which has exceeded expectations [6][5] Group 2 - Hormel's interim CEO, Jeff Ettinger, has returned to lead the company for a defined 15-month period starting July 14 [3][5] - The company is implementing targeted pricing actions to address ongoing inflationary pressures, with profit recovery expected to lag into the new year [6][5] - Hormel plans to conduct a search for a permanent CFO, considering both internal and external candidates [7]