In a promotion foreshadowed 13 months ago, Hormel Foods on Tuesday announced that John Ghingo, its company president, will become CEO on Oct. 26.

Ghingo will assume the top leadership role at a time when many Americans are struggling to pay their high grocery bills. Citing federal data, the Associated Press reported this month that the cost of food that’s consumed at home has risen 33% since 2019.

In addition, Ghingo must deal with the trend that some consumers are placing a greater emphasis on eating fresh fruits and vegetables.

Hormel Foods, based in Austin, Minnesota, sells a range of well-known packaged brand products, including Spam canned meat, Skippy peanut butter, and Planters nuts.

In June 2025, Hormel’s board said that it was promoting Ghingo to Hormel president, and that former Hormel CEO Jeff Ettinger would return to the business as interim CEO for 15 months. Ettinger was Hormel CEO from 2006 to 2016, and Jim Snee held the CEO job from 2016 until mid-July 2025, when Ettinger’s interim term began.

In a written statement Tuesday, the Hormel board chairman greenlighted Ghingo’s step up to CEO.

“The board and I are confident John Ghingo is the right leader to guide Hormel Foods into its next chapter,” Bill Newlands, Hormel board chairman, said in the Tuesday statement. “John has quickly demonstrated his ability to lead at enterprise scale, setting clear strategic direction and translating strategy into disciplined execution.”

As Hormel’s president, Ghingo has been directly overseeing the company’s retail, food service, and international business segments. He also has been in charge of global operations, supply chain, research and development, information technology, and corporate strategy functions.

“Throughout his career he has built strong teams, strengthened iconic brands, championed innovation and delivered results,” said Newlands, former CEO of Constellation Brands. “Under his leadership, we believe Hormel Foods will be well positioned to drive our modernization agenda, accelerate sustainable growth and create long-term value for shareholders. As we build on 135 years of history, John is the right leader to move the company forward.”

In announcing its second quarter results for fiscal 2026 on May 28, Hormel Foods reaffirmed that it expects net sales of $12.2 billion to $12.5 billion for fiscal 2026. It projects organic net sales growth of 1% to 4% for the full year. In the second quarter, Hormel had net sales of $2.97 billion and operating income of $217 million.

During the quarter, Hormel completed the sale of its whole-bird turkey business.

“Organic net sales grew in the second quarter of fiscal 2026, as strong performance in Jennie-O ground turkey was partially offset by the strategic exit from select non-core private label snack nut items,” the company said on May 28. “Other priority brands such as Applegate natural and organic meats, Hormel Black Label bacon, the Herdez portfolio, and Hormel Gatherings party trays contributed to organic net sales growth in the quarter.”

Board chairman Newlands recognized Ettinger for his leadership in recent quarters. “We are grateful to Jeff Ettinger for his steady leadership as interim CEO and for nearly 30 years of service to Hormel Foods,” Newlands said. Calling Ettinger a “trusted steward of the company,” Newlands thanked him for his interim CEO leadership “during an important period, drawing on decades of experience to support the business, provide continuity for the organization and help deliver a smooth leadership transition.”

Ettinger’s written comments Tuesday reflected on Ghingo’s readiness for the CEO position. “Over the past year, John and I have worked closely together, and I’ve seen firsthand his commitment to the Hormel Foods’ culture, people and portfolio and his clear focus on the opportunities ahead,” Ettinger said. “I have great confidence in John’s ability to lead the company into its next chapter. Hormel Foods is built to last, and I am optimistic about its future under John’s leadership.”

Ghingo holds an undergraduate degree from the University of Notre Dame and earned an MBA from New York University’s Stern School of Business.

He worked in marketing and general management positions for more than 15 years with Mondelez International. Oreo, Cadbury, Trident, and Planters are among the global brands that he supported.

In 2018, Ghingo became president of Applegate Farms, LLC, a Hormel subsidiary. After four years with Applegate, Ghingo became CEO of a better-for-you snacking company.

He returned to Hormel in 2024 as executive vice president of the retail business unit. By mid-2025, he was named Hormel president, and on Tuesday his selection as Hormel CEO was announced.

“We have real momentum and a talented team,” Ghingo said in a prepared statement. “I am energized to build on that foundation—investing in our brands, modernizing how we operate and creating lasting value for our customers, consumers, team members and shareholders.”