Jim Snee, the longtime chief executive of Austin, Minnesota-based Hormel Foods Corp., is stepping down.

On Tuesday morning, the company announced that Snee will retire at the end of Hormel’s 2025 fiscal year, which will wrap up in October. He currently serves as Hormel’s chairman, president, and CEO.

Snee has served as CEO of Hormel for the last eight years and has worked for the company for 36 years in total. Under his leadership, the company executed a $3.3 billion purchase of Planters, marking Hormel’s biggest acquisition to date.

For years, even before Snee took the top job, Hormel has been gradually moving away from its reputation as a meat-centric company to a more diversified one. In 2013, the company, which has long been known for making Spam, bought peanut butter maker Skippy’s for $700 million, followed by nut butter company Justin’s three years later.

In a February 2021 conference call with investors, Snee said that the Planters purchase was in line with Hormel’s long-term vision. “There is nothing revolutionary here,” he said at the time. “There is no new strategy of the day. The acquisition of Planters is simply a continuation of our strategic evolution.”

In a late 2021 interview with TCB, Snee noted that “meat is not being replaced, but adoption of meat alternatives is growing.”

In December, Hormel reported total net sales of $11.9 billion in its 2024 fiscal year, down from $12.1 billion in the prior year.

Snee has agreed to remain on as a strategic adviser to Hormel’s board for 18 months after he formally retires at the end of the company’s fiscal year.

“My heartfelt gratitude goes to the leaders who came before me and to all the dedicated colleagues I’ve worked with during my 36-year career,” Snee said in a news release issued Tuesday morning. “As we begin this transition, I’m confident in the bright future that lies ahead for Hormel Foods.”

In the meantime, Hormel’s board has formed a search committee to find Snee’s replacement.