Hormel Foods (HRL) CEO James Snee plans to retire at the end of fiscal 2025, the company said Tuesday.

Snee has worked at Hormel🐲 for 36 years, eight of which have been as ♐CEO. The Spam and Skippy parent said it has formed a search committee to identify a successor, and Snee has agreed to remain with the company as a strategic advisor for 18 months following his departure. 

Hormel said its outlook for fiscal 2025, which ends in late October, remains unchanged. Last month, the company projected full-year net sales of $11.9 billion to $12.2 billion and 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.51 to $1.65.

Hormel Foods shares were 1% lower Tue♕sday morning. They are down about 6% over the last year.