<SEC-DOCUMENT>0001104659-16-143250.txt : 20160906
<SEC-HEADER>0001104659-16-143250.hdr.sgml : 20160906
<ACCEPTANCE-DATETIME>20160906170416
ACCESSION NUMBER:		0001104659-16-143250
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160906
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160906
DATE AS OF CHANGE:		20160906

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HORMEL FOODS CORP /DE/
		CENTRAL INDEX KEY:			0000048465
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		IRS NUMBER:				410319970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02402
		FILM NUMBER:		161871441

	BUSINESS ADDRESS:	
		STREET 1:		1 HORMEL PL
		CITY:			AUSTIN
		STATE:			MN
		ZIP:			55912-3680
		BUSINESS PHONE:		(507) 437-5611

	MAIL ADDRESS:	
		STREET 1:		1 HORMEL PLACE
		CITY:			AUSTIN
		STATE:			MN
		ZIP:			55912-3680

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HORMEL GEO A & CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a16-17989_18k.htm
<DESCRIPTION>8-K
<TEXT>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">UNITED STATES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Washington, D. C. 20549</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant to Section&nbsp;13 or 15 (d)&nbsp;of</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">the Securities Exchange Act of 1934</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Date of Report (Date of earliest event reported)&#160;&#160; <b>September&nbsp;6, 2016</b></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">HORMEL FOODS CORPORATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Exact name of registrant as specified in its charter)</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Delaware</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">1-2402</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">41-0319970</font></b></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(State   or Other </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Jurisdiction   of </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Incorporation)</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Commission   File <br>   Number)</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(IRS   Employer </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Identification   </font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Number)</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">1 Hormel Place</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Austin, MN&#160; 55912</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Address of Principal Executive Office)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Registrant&#146;s telephone number, including area code:&#160; (507) 437-5611</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">[&#160; ] Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">[&#160; ] Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 16.55pt;text-indent:-16.55pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">[&#160; ] Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 16.55pt;text-indent:-16.55pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">[&#160; ] Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Section&nbsp;5 &#150; CORPORATE GOVERNANCE AND MANAGEMENT</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Item 5.02&#160; <u>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</u></font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">On September&nbsp;6, 2016, </font><font size="3" style="font-size:12.0pt;">the Board of Directors of Hormel Foods Corporation (the Company) received notice of the upcoming retirement of Jeffrey M. Ettinger, who will retire as chief executive officer, effective October&nbsp;30, 2016.&#160; Ettinger will continue to serve as the Company&#146;s chairman of the board.&#160; The Board of Directors then elected James P. Snee to be the Company&#146;s next chief executive officer, effective October&nbsp;31, 2016.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Snee becomes president and chief executive officer of Hormel Foods after serving as president and chief operating officer since October&nbsp;26, 2015.&#160; In that role, he led all of the company&#146;s business segments and global operations including Grocery Products, Refrigerated Foods, Specialty Foods, Jennie-O Turkey Store and International&nbsp;&amp; Other.&#160; Snee joined Hormel Foods in 1989 in the foodservice division and served in various positions within the group before being named manager of inventory and distribution for the Refrigerated Foods segment in 1995.&#160; He was promoted to foodservice area manager and foodservice regional sales manager in 1996 and 1998, respectively.&#160; Snee was named director of purchasing in 2006 and vice president of affiliated business units in 2008. He was named vice president of Hormel Foods and senior vice president of Hormel Foods International Corporation at the end of fiscal year 2011.&#160; Snee advanced to group vice president of Hormel Foods and president of Hormel Foods International Corporation in October&nbsp;2012.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Snee has no family relationships with any member of the Board or any other executive officer of the Company, and is not a party to any transaction with the Company or any subsidiary of the Company.&#160; Snee and the Company have not entered into any employment agreement in connection with his election as president and chief executive officer.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">A copy of the release is furnished as Exhibit&nbsp;99 to this Form&nbsp;8-K and is incorporated herein by reference.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Section&nbsp;9 &#150; FINANCIAL STATEMENTS AND EXHIBITS</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Item 9.01 <u>Financial Statements and Exhibits</u></font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 9.0pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(d)&#160;&#160;&#160; Exhibits furnished pursuant to Item 5.02</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:27.0pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">99&#160;&#160;&#160;&#160;&#160;&#160; Press release issued September&nbsp;6, 2016</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" style="font-size:12.0pt;">2</font><a name="PB_2_235252_1086"></a></p>
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<p style="margin:0in 0in .0001pt;"><b><u><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SIGNATURES</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><u><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">HORMEL FOODS CORPORATION</font></u></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 24.5pt;text-indent:-10.1pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">(Registrant)</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Dated: <u>September&nbsp;6,   2016</u></font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">By <u>/s/ JODY H.   FERAGEN</u></font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt .2in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">JODY H. FERAGEN</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .2in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Executive Vice   President</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .2in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Chief Financial Officer</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Dated: <u>September&nbsp;6,   2016</u></font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">By <u>/s/ JAMES N.   SHEEHAN</u></font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .2in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">JAMES N. SHEEHAN</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .2in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">and Chief Accounting   Officer</font></p>    </td>   </tr>  </table>
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<p align="right" style="margin:0in 0in .0001pt .5in;text-align:right;text-indent:.5in;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Exhibit&nbsp;99</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Wendy A. Watkins</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Investor Contact: Nathan   P. Annis</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Hormel Foods</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Hormel Foods</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Arial" style="font-size:10.0pt;">media@hormel.com</font></u></p>    </td>
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<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Arial" style="font-size:10.0pt;">ir@hormel.com</font></u></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">507-437-5345</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">507-437-5248</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">HORMEL FOODS ANNOUNCES CHIEF EXECUTIVE OFFICER RETIREMENT AND APPOINTMENT</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;font-weight:bold;">Jeffrey M. Ettinger to Retire as Chief Executive Officer and James P. Snee Appointed as President and Chief Executive Officer</font></i></b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">AUSTIN, Minn., </font></b><font face="Arial">(September&nbsp;6, 2016) -- Hormel Foods Corporation (NYSE:HRL) today announced that Jeffrey M. Ettinger will retire as chief executive officer on October&nbsp;30, 2016. Ettinger will continue to serve as Hormel Foods chairman of the board. The Board of Directors elected James P. Snee to be the company&#146;s next chief executive officer, effective October&nbsp;31, 2016. Snee currently serves as president and chief operating officer.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Ettinger served as chairman of the board, president and chief executive officer from November&nbsp;2006 to October&nbsp;2015, when Snee was appointed president and Ettinger became chairman of the board and CEO. Ettinger joined Hormel Foods in 1989 and has served in a variety of roles, including senior attorney, product manager for <i>Hormel</i></font><font size="1" face="Arial" style="font-size:6.5pt;position:relative;top:-3.0pt;">&#174;</font><font face="Arial">&#160;chili products and treasurer. In 1999, he was named president of Jennie-O Turkey Store &#151; the largest subsidiary of Hormel Foods, based in Willmar, Minn. Ettinger was appointed president of Hormel Foods in 2004 and CEO effective January&nbsp;1, 2006. He has served on the Hormel Foods Board of Directors since 2004, and currently serves on the boards of The Toro Company, Ecolab,&nbsp;Inc., North American Meat Institute, Grocery Manufacturers Association, The Hormel Foundation, The Hormel Institute and the Minnesota Business Partnership.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Under Ettinger&#146;s leadership, Hormel Foods has grown through strategic acquisitions, organic growth and a continued focus on new product innovation. In 2016, Ettinger was named as one of the 30 World&#146;s Best CEOs by Barron&#146;s. In 2012, he was named Responsible CEO of the Year by Corporate Responsibility magazine. In addition, Ettinger is the founding chair of the company&#146;s diversity and inclusion council, which aims to meet the growing needs of its diverse workforce and consumer base.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&#147;Jeff has expertly piloted the company to significant growth and success during his tenure, leading a talented management team in the delivery of strong and consistent returns to Hormel Foods shareholders,&#148; said John L. Morrison, the board&#146;s Lead Director. &#147;Under his leadership, the company added to an outstanding portfolio of brands through numerous strategic acquisitions, most notably <i>Wholly Guacamole</i></font><i><font size="1" face="Arial" style="font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">&#174;</font></i><font face="Arial">, <i>Skippy</i></font><i><font size="1" face="Arial" style="font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">&#174;</font></i><font face="Arial">, <i>Muscle Milk</i></font><i><font size="1" face="Arial" style="font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">&#174;</font></i><font face="Arial">&#160;and most recently, the <i>Applegate</i></font><i><font size="1" face="Arial" style="font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">&#174;</font></i><font face="Arial">&#160;and <i>Justin&#146;s</i></font><i><font size="1" face="Arial" style="font-size:6.5pt;font-style:italic;position:relative;top:-3.0pt;">&#174;</font></i><font face="Arial">&#160;brands.&#160; While Jeff will certainly be missed,&nbsp;I am equally as confident in the leadership of Jim Snee as he assumes the role of CEO. Jim is a 27-year veteran of the company and served as president and chief operating officer for the last year. His excellent performance in this role, along with his successful experience in running the company&#146;s International division and prior significant leadership roles in the affiliated foods and foodservice units within Refrigerated Foods, positions the company to continue to deliver outstanding results to its shareholders. The company is in excellent hands.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Ettinger noted, &#147;It has been an honor to lead this great company alongside our dedicated employees around the world. Hormel Foods has a 125-year legacy of delivering quality and innovation, as well as meaningful value to all of our stakeholders. As Jim takes the helm,&nbsp;I am confident that Hormel Foods will continue its growth trajectory as he and the team build on our strong foundation of success.&#148;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&#147;It is truly an honor to be elected as the next CEO for Hormel Foods,&#148; said Snee. &#147;This is a remarkable company made up of thousands of inspired employees dedicated to providing inspired foods to our customers around the world. Jeff has guided us with his strategic leadership, brave innovation,</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">unquestionable integrity, and unwavering commitment to our communities and corporate citizenship. It has been a pleasure to work directly with Jeff over the past year, and I look forward to leading the company with this legacy of excellence.&#160; I am certain we are well positioned for future success in the years to come.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Snee becomes president and chief executive officer of Hormel Foods after serving as president and chief operating officer since October&nbsp;2015. In that role, he led all of the company&#146;s business segments and global operations including Grocery Products, Refrigerated Foods, Specialty Foods, Jennie-O Turkey Store and International&nbsp;&amp; Other. Snee joined Hormel Foods in 1989 in the foodservice division and served in various positions within the group before being named manager of inventory and distribution for the Refrigerated Foods segment in 1995. He was promoted to foodservice area manager and foodservice regional sales manager in 1996 and 1998, respectively. Snee was named director of purchasing in 2006 and vice president of affiliated business units in 2008. He was named vice president of Hormel Foods and senior vice president of Hormel Foods International Corporation at the end of fiscal year 2011. Snee advanced to group vice president of Hormel Foods and president of Hormel Foods International Corporation in October&nbsp;2012.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">About Hormel Foods</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">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. Hormel Foods, which 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, is celebrating its 125th anniversary in 2016. The company is a member of the Standard&nbsp;&amp; Poor&#146;s (S&amp;P) 500 Index, S&amp;P 500 Dividend Aristocrats, and was named one of &#147;The 100 Best Corporate Citizens&#148; by Corporate Responsibility Magazine for the eighth year in a row. Hormel Foods also received a perfect score on the 2016 Human Rights Campaign Foundation&#146;s Corporate Equality Index, was recognized on the 2016 Best for Vets Employers List by Military Times, and was named one of the 2016 Best Companies for Leaders by Chief Executive magazine. 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 and http://2015csr.hormelfoods.com/.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Forward Looking Statements</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">This news release contains forward-looking information based on management&#146;s current views and assumptions. Actual events may differ materially. Please refer to the cautionary statement regarding Forward-Looking Statements and Risk Factors that appear on pages&nbsp;33-40 in the company&#146;s Form&nbsp;10-Q for the quarter ended July&nbsp;24, 2016, which can be accessed at www.hormelfoods.com under &#147;Investors-SEC Filings.&#148;</font></p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
