Jeffrey M Ettinger Net Worth is7.0 $Million
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Company Name: Hormel Foods Corporation / company logo
Hormel Foods Corporation is a food company based in southeastern Minnesota (Mower County), perhaps best known as the producer of SPAM luncheon meat. The company was founded as George A. Hormel & Company in Austin, Minnesota, U.S., by George A. Hormel in 1891. The company changed its name to Hormel Foods Corporation 102 years later in 1993. Hormel sells food under many brands, including the Chi-Chi's, Dinty Moore, Farmer John, Herdez, Jennie-O, Lloyd's, SPAM and Stagg brands, as well as under its own name. The company is listed on the Fortune 500.
George A. Hormel (born 1860 in Buffalo, New York) worked in a Chicago slaughterhouse before becoming a traveling wool and hide buyer. His travels took him to Austin and he decided to settle there, borrow $500, and open a meat business. Hormel handled the production side of the business and his partner, Albert Friedrich, handled the retail side. The two dissolved their partnership in 1891 so that Hormel could start a complete meat packing operation on his own. He opened George A. Hormel & Co. in the northeast part of Austin in an old creamery building on the Cedar River. To make ends meet in those early days, Hormel continued to trade in hides, eggs, wool, and poultry. Joining George in November 1891 was his youngest brother, Benjamin, age 14. By the end of 1891 Hormel employed six men and had slaughtered and sold 610 head of livestock. By 1893, the increased use of refrigerator cars had allowed many large meat packers to force smaller business under. Two additional Hormel brothers, Herman and John, joined the business that same year and together they processed 1,532 hogs, enough to stay in business. The remaining members of the Hormel family moved to Austin in 1895 and joined the growing business. George turned to full-time management in 1899 and turned his focus on increasing production.
In 1901, the plant was expanded and the business was incorporated. The first directors were A.L. Eberhart and the four Hormel broth

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Jeffrey M Ettinger Latest News

Hormel Foods Announces The Retirement Of Jeffrey M. Ettinger As Chairman Of The Board. Jim Snee, Hormel Foods President And CEO, Elected As Chairman

AUSTIN, Minn., Sept. 27, 2017 /PRNewswire/ -- Hormel Foods Corporation (HRL) today announced the retirement of Jeffrey M. Ettinger as chairman of the board. The board of directors elected Jim Snee to be the company's next chairman of the board, effective ...
Posted: September 27, 2017, 3:53 am

Ettinger announces Hormel stock split

Things are looking good for Hormel Foods. On the heels of a record breaking $7.2 billion year in sales, Chairman of the Board, Jeffrey M. Ettinger announced Monday the company will undergo a two-for-one stock split. The split, pending stockholder approval ...
Posted: December 13, 2010, 4:00 pm

Hormel Foods announces CEO’s retirement, succession plans

The board of directors approved James Snee, its president and chief operating officer, to succeed Ettinger. The transition will occur at the end of Hormel’s fiscal year. Jeffrey M. Ettinger Ettinger will remain as chairman of the board. He served as ...
Posted: September 7, 2016, 8:42 am
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