Leadership Appointments - Paul Peil has been promoted to Vice President of Marketing for Fresh and Ready Meats, bringing 35 years of experience with the company [1][3] - Christie Crouch joins Hormel Foods as Vice President of Marketing for Snacking and Entertaining, with over two decades of experience in brand strategy and innovation [1][5] Responsibilities and Impact - In his new role, Peil will oversee fresh pork, Jennie-O, Hormel® Cure 81® brand, and the deli category for Retail customers, aiming to enhance the company's Retail strategy [3][4] - Crouch will lead brand-building initiatives for the company's snacking and entertaining brands, including Planters®, Corn Nuts®, and Hormel Gatherings® [3][4] Background of Executives - Paul Peil has held various positions within Hormel Foods since 1989, including roles in sales and management, and has a Bachelor of Arts degree in Business Administration from the University of Dubuque [4] - Christie Crouch previously served as vice president and general manager at Conagra Brands and has held key marketing roles at Kraft Foods and Kellogg's, holding an MBA from Harvard Business School [5] Company Overview - Hormel Foods Corporation is a global branded food company with approximately $12 billion in annual revenue, operating in over 80 countries [6] - The company is recognized for its diverse portfolio of brands, including PLANTERS®, SPAM®, and JENNIE-O®, and has received numerous accolades for corporate responsibility [6][7]

Financial Performance & Outlook - The company reaffirmed its fiscal year 2025 net sales expectations to be between $119 billion and $122 billion [5, 32] - The company reaffirmed its adjusted diluted earnings per share expectations for fiscal year 2025 to be between $158 and $172 [5, 32] - The company anticipates organic net sales growth of 1% to 3% in fiscal year 2025 [33] - The company expects incremental benefits from the Transform and Modernize (T&M) initiative in the range of $100 million to $150 million [33] - The company's capital expenditures are projected to be in the range of $275 million to $300 million [33] Segment Performance (Q1 FY25 YoY) - The Retail segment experienced a volume decrease of 4%, a net sales decrease of 1%, and a segment profit decrease of 20% [19] - The Foodservice segment saw organic volume increase by 2% and organic net sales increase by 5%, but segment profit decreased by 8% [28] - The International segment experienced a volume decrease of 7% and a net sales decrease of 2%, but segment profit increased by 4% [29] Strategic Initiatives & Capital Allocation - The company divested a non-core sow operation to reduce commodity exposure and simplify the portfolio [9] - The company announced its 59th consecutive increase to the annual dividend [13, 16] - The company's operating cash flow was $866 million [11]