Hormel Foods Announces Upcoming Retirements of Mark Morey and Paul Peil

Hormel Foods (NYSE: HRL) announced on Jan 12, 2026 the upcoming retirements of two long-tenured leaders: Mark Morey, vice president of operations for fresh pork, and Paul Peil, vice president of marketing for fresh and ready meats.

Rhea-AI Summary

Hormel Foods (NYSE: HRL) announced on Jan 12, 2026 the upcoming retirements of two long-tenured leaders: Mark Morey, vice president of operations for fresh pork, and Paul Peil, vice president of marketing for fresh and ready meats.

Morey has served more than three decades across sales, marketing, general management and operations; Peil's career spans 36 years, including sales and marketing leadership. Interim CEO Jeff Ettinger thanked both for decades of service and said their leadership helped guide Hormel's fresh pork and fresh and ready meats businesses through growth and transformation.

Argus Jan 13 session

+2.84% close to close Open Argus

Details

News Market Reaction – HRL

On Jan 13, the first trading day after this news, HRL closed 2.84% above the previous close.

Data tracked by StockTitan Argus for the Jan 13 session.

Market Context

This announcement highlights the planned retirements of two long-tenured leaders overseeing fresh po...

Analysis

This announcement highlights the planned retirements of two long-tenured leaders overseeing fresh pork and fresh and ready meats, signaling an orderly transition rather than abrupt change. Recent filings show pressured Fiscal 2025 earnings, significant equity grants to senior executives, and an effective debt shelf for future issuance. Investors may watch how successors execute on operations and marketing, and whether profitability metrics improve from the $0.87 EPS and 33% operating income decline.

Key Figures

Net sales: $12.1 billion Operating income change: -33% Net earnings change: -41% +5 more

Net sales

$12.1 billion

Fiscal 2025 net sales, up 2 percent year over year

Operating income change

-33%

Fiscal 2025 operating income vs prior year

Net earnings change

-41%

Fiscal 2025 net earnings vs prior year

Diluted EPS

$0.87 vs $1.47

Fiscal 2025 vs prior year EPS per DEF 14A

Dividends paid

$633 million

Record dividends in Fiscal 2025

Insider sale

13,400 shares at $24

Director open market sale on 12/11/2025

CEO option grant

436,300 options at $23.39

Interim CEO stock options granted 01/02/2026

Tenure of Paul Peil

36 years

Career length at Hormel Foods prior to announced retirement

Historical Context

5 past events · Latest: Jan 06

5 events

1. Jan 06

   Product launch

   24h Move

   -0.5%

   Introduced two new Hormel Mary Kitchen skillet varieties with higher protein.

2. Dec 18

   Management change

   24h Move

   +0.0%

   Appointed Jason Levine as new enterprise-wide chief marketing officer.

3. Dec 16

   Brand promotion

   24h Move

   -1.4%

   Announced PLANTERS NUTmobile relaunch and nationwide Peanutter hiring tour.

4. Dec 15

   Portfolio transaction

   24h Move

   -1.4%

   Completed transaction to establish Justin's as a standalone company with 49% stake.

5. Dec 15

   Brand partnership

   24h Move

   -0.2%

   SKIPPY partnered with Milk Bar around a Chocolate Peanut Butter Crunch Pie recipe.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

restricted stock units, stock options, exercise price, form s-3, +4 more

8 terms

restricted stock units financial

"received 5,558 shares of Hormel Foods common stock as an award of restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

stock options financial

"was granted stock options to purchase 36,000 shares of Hormel Foods common stock"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

exercise price financial

"stock options to purchase 36,000 shares ... at an exercise price of $23.39 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

form s-3 regulatory

"has filed a universal shelf registration on Form S-3 to allow it to issue"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

senior unsecured debt securities financial

"allow it to issue senior unsecured debt securities from time to time"

Debt securities issued by a company that are not backed by specific assets but have priority over other unsecured creditors for repayment if the issuer defaults. Think of them as an IOU that places you ahead of most other unsecured lenders in line for repayment, though behind any secured lenders; they matter to investors because they balance higher priority (and thus lower risk) than subordinated debt with typically lower yields than secured loans.

prospectus supplements regulatory

"terms ... will be set later in separate prospectus supplements"

A prospectus supplement is an official add-on to a securities prospectus that provides new or updated details about a specific stock, bond, or other offering, such as terms, risks, or financial data. Investors use it like a product label update—checking it tells them what exactly is being offered, any changes from the original plan, and whether the investment's risks, size, or price have shifted, which can affect buy, hold, or sell decisions.

events of default financial

"events of default tied to missed payments and large debt accelerations"

Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.

sale‑leaseback transactions financial

"limitations on certain liens and sale‑leaseback transactions"

A sale‑leaseback transaction is when a company sells an asset—often real estate or equipment—to another party and then continues using it by renting it back. For investors, it matters because it turns a owned asset into immediate cash while creating ongoing rent payments, which alters cash flow and the mix of assets and liabilities on the balance sheet and can affect reported profits and the company’s financing signals.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AUSTIN, Minn., Jan. 12, 2026 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced the upcoming retirements of two long-tenured leaders: Mark Morey, vice president of operations for fresh pork, and Paul Peil, vice president of marketing for fresh and ready meats.

"Mark has been a trusted leader at Hormel Foods for more than three decades, serving in roles across sales, marketing, general management and operations," said Jeff Ettinger, interim CEO. "His customer focus, operational discipline and commitment to continuous improvement strengthened our fresh pork business and the teams he led."

"Paul's career at Hormel Foods spans 36 years of results, growth and leadership," remarked Ettinger. "After developing deep expertise in sales, he transitioned to marketing, where his leadership has been instrumental in advancing strategy, strengthening customer relationships and driving team performance."

Together, Morey and Peil guided the fresh pork and fresh and ready meats businesses through growth and transformation, helping position Hormel Foods for continued success. Their impact will continue to resonate as the company builds on the strong foundation they helped create. 

"We are grateful to Mark and Paul for their decades of leadership and service to Hormel Foods and wish them and their families the very best in retirement," said Ettinger.

About Mark Morey

Mark Morey joined Hormel Foods in 1993 as a meat products sales representative in Dallas and advanced through a series of leadership roles spanning sales, marketing, general management and operations. His career included positions such as product manager of fresh pork; director of marketing and general manager for Precept Foods; president of Dan's Prize; president of Farmer John; vice president of affiliated business units; and vice president of foodservice – affiliated businesses before assuming his current role in 2023. Morey earned an MBA from the University of Wisconsin–La Crosse and a bachelor's degree in business and communications from Concordia College in Moorhead, Minn. He also completed the University of Minnesota Carlson School of Management Executive Program.

About Paul Peil

Paul Peil began his career with Hormel Foods in 1989 as a sales trainee and progressed through numerous sales leadership roles, including retail sales representative, account executive, district sales manager, national accounts manager for fresh pork and director of fresh meat sales. He later served as vice president of sales for the retail division of Jennie-O Turkey Store and as assistant vice president of value-added meats for retail sales before assuming his most recent role overseeing fresh pork, Jennie-O, the Hormel® Cure 81® brand and the deli category for retail customers. Peil holds a bachelor's degree in business administration from the University of Dubuque.

About Hormel Foods — Inspired People. Inspired Food.^™
 Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with approximately $12 billion in annual revenue. Its brands include PLANTERS^®, SKIPPY^®, SPAM^®, HORMEL^® NATURAL CHOICE^®, APPLEGATE^®, WHOLLY^®, HORMEL^® BLACK LABEL^®, COLUMBUS^®, JENNIE-O^® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report, one of America's most responsible companies by Newsweek, recognized by TIME magazine as one of the World's Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.^™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit hormelfoods.com.

Contact:	Media Relations
	Hormel Foods
	media@hormel.com

 

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SOURCE Hormel Foods Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is retiring from Hormel Foods (HRL) on January 12, 2026?

Mark Morey, vice president of operations for fresh pork, and Paul Peil, vice president of marketing for fresh and ready meats, announced upcoming retirements.

How long did Mark Morey work at Hormel Foods (HRL)?

Mark Morey served at Hormel Foods for more than three decades in roles across sales, marketing, general management and operations.

How long was Paul Peil's tenure at Hormel Foods (HRL)?

Paul Peil's career at Hormel Foods spans 36 years, including roles in sales and later marketing leadership.

What roles did Morey and Peil hold at Hormel Foods (HRL)?

Morey was vice president of operations for fresh pork; Peil was vice president of marketing for fresh and ready meats.

Did Hormel Foods (HRL) say how these retirements affect business strategy?

The company said Morey and Peil guided the fresh pork and fresh and ready meats businesses through growth and transformation and leave a strong foundation for future work.

Who commented on the retirements at Hormel Foods (HRL)?

Jeff Ettinger, interim CEO, publicly thanked both executives for their decades of leadership and service.