Hormel is known for SPAM and its Austin, Minnesota, headquarters. The Fortune 500 food company’s late-1800s origins tie it to the region’s farmers, but it has gradually moved its center off meat with acquisitions like the Skippy peanut butter brand and Planters nuts and snack foods. In 2023, it also launched a three-year modernization. John Ghingo, president since July and presumptive CEO in 2026, will carry it to completion. “This work goes beyond cost savings—it’s about modernizing our processes, strengthening our supply chain, leveraging data and technology, and investing in our people and culture,” he says, noting Hormel’s biggest opportunity is in animal proteins, nuts, and nut butters. 2026 is about “fostering a culture where people are given the tools and opportunities to grow—and where that growth drives long-term value across the company.”