Hormel said John F. Ghingo would commence service as President and Chief Executive Officer on October 26, 2026, as previously announced, and would continue to serve on the Board of Directors.

1. 01

   Hormel said John F. Ghingo would commence service as President and Chief Executive Officer on October 26, 2026, as previously announced, and would continue to serve on the Board of Directors.

2. 02

   Hormel said Ghingo had been a party to an Employment Agreement related to his service as President since June 2025, and that the agreement was scheduled to expire on December 31, 2026 by its terms.

3. 03

   Hormel said it entered into a Letter Agreement with Ghingo on October 23, 2026, under which the existing Employment Agreement terminated as of October 26, 2026, when Ghingo assumed the additional role of Chief Executive Officer.

4. 04

   The company said Ghingo has no specified term as President and Chief Executive Officer, and that a copy of the Letter Agreement is expected to be filed as an exhibit to the Form 10-K annual report for the fiscal year ended October 25, 2026.

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