Hormel Foods Appoints Donald Monk as Company's First Chief Technology Officer

Rhea-AI Summary

Hormel Foods (NYSE: HRL) appointed Donald Monk as its first chief technology officer, effective March 23, 2026. Monk will lead enterprise technology, digital and data strategy to support long-term growth and modernization of the company’s technology platforms.

Monk brings more than 35 years of global technology leadership, including three decades at General Mills where he served as chief information officer, and is tasked with building modern digital capabilities and high-performing global teams.

Positive

• First-ever CTO appointed, centralizing enterprise technology leadership
• Donald Monk brings 35+ years of technology leadership experience
• CTO role effective March 23, 2026, signaling near-term execution

Negative

• None.

Key Figures

CTO start date: March 23, 2026 Technology experience: 35 years Q1 net sales: ~$3.0 billion +5 more

8 metrics

CTO start date March 23, 2026 Effective date for Donald Monk as chief technology officer

Technology experience 35 years Global technology leadership experience cited for Donald Monk

Q1 net sales ~$3.0 billion Preliminary fiscal Q1 2026 net sales expectation

Organic net sales growth 2% Preliminary fiscal Q1 2026 organic net sales growth vs prior year

Diluted EPS $0.33 Preliminary fiscal Q1 2026 diluted EPS

Adjusted diluted EPS $0.34 Preliminary fiscal Q1 2026 adjusted diluted EPS

State Street ownership 27,318,643 shares (5%) Beneficial ownership of Hormel common stock as of 12/31/2025

Stock options granted 201,000 shares at $24.46 Stock options granted to president John F. Ghingo on Feb 2, 2026

Market Reality Check

Price: $25.80 Vol: Volume 5,277,829 vs 20-da...

normal vol

$25.80 Last Close

Volume Volume 5,277,829 vs 20-day avg 5,090,240 (relative volume 1.04) shows trading slightly above typical activity before this announcement. normal

Technical Shares at $25.80 were trading just below the 200-day MA of $26.15, and about 19.55% below the 52-week high, indicating a still-subdued longer-term trend pre-news.

Peers on Argus

Before this leadership news, HRL was up 0.68% while close peers were mixed: MKC ...

Before this leadership news, HRL was up 0.68% while close peers were mixed: MKC up 0.56%, PPC up 1.85%, but SJM down 2.02%, GIS down 0.31%, and K roughly flat. With no peers in the momentum scanner, this points to a company-specific backdrop rather than a coordinated sector move.

Historical Context

5 past events · Latest: Feb 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Prelim Q1 results	Positive	-1.4%	Preliminary Q1 results with ~$3.0B sales, 2% organic growth, reaffirmed guidance.
Feb 17	Asset divestiture	Neutral	-1.4%	Agreement to sell whole-bird turkey business with minimal expected 2026 impact.
Feb 12	Leadership change	Positive	-2.1%	Appointment of new group VP and chief supply chain officer for global operations.
Feb 03	Marketing campaign	Positive	+0.7%	SPAM brand Big Game campaign with athlete partnership to drive engagement.
Feb 02	Earnings call notice	Neutral	+0.7%	Announcement of Q1 earnings release and CAGNY conference participation schedule.

Pattern Detected

Recent company updates, including leadership changes and strategic portfolio moves, have often seen muted or negative next-day reactions even when the news skewed operationally positive or neutral.

Recent Company History

Over the last month, Hormel Foods has reported preliminary Q1 2026 results with reaffirmed full-year adjusted guidance and announced the sale of its whole-bird turkey business, both followed by a -1.43% move. The company also made senior leadership appointments in supply chain and now technology, plus brand and investor-relations events such as the SPAM campaign and CAGNY participation, which coincided with modest +0.65% reactions. Today’s CTO appointment extends this pattern of operational and leadership-focused updates supporting long-term strategy.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-12-05

The company has an effective universal shelf registration on Form S-3ASR filed on 2025-12-05, allowing it to issue senior unsecured debt securities over time, with specific terms to be set in future prospectus supplements. Proceeds may be used for general corporate purposes such as working capital, acquisitions, capital expenditures, debt repayment or refinancing, and stockholder returns.

Market Pulse Summary

This announcement adds a dedicated chief technology officer to lead Hormel’s enterprise technology, ...

Analysis

This announcement adds a dedicated chief technology officer to lead Hormel’s enterprise technology, digital, and data strategy starting March 23, 2026. It follows other recent leadership changes and preliminary Q1 2026 results with reaffirmed guidance, suggesting continued focus on execution and modernization. Investors may watch how new technology leadership supports efficiency, supply chain initiatives, and brand growth alongside existing debt-issuance flexibility under the company’s universal shelf registration.

AI-generated analysis. Not financial advice.

New role underscores company's commitment to modernizing technology, digital and data capabilities

AUSTIN, Minn., Feb. 24, 2026 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced the appointment of Donald Monk as chief technology officer, effective March 23. In this newly created role, Monk will serve as the company's senior-most technology leader, responsible for envisioning, aligning and delivering the enterprise technology, digital and data strategy that supports long‑term growth.

"Don is an exceptional technology leader with a proven track record of transforming large, global organizations and building modern digital capabilities that unlock business growth," said John Ghingo, president, Hormel Foods. "As we continue to prioritize the modernization of our technology and data platforms, Don's experience and leadership will be critical in enhancing the capabilities that empower our business. We are thrilled to welcome him to Hormel Foods."

Monk brings more than 35 years of global technology leadership to Hormel Foods, including more than three decades at General Mills, where he ultimately served as chief information officer. Widely recognized for leading complex enterprise transformations, he has built high‑performing global teams and developed modern technology ecosystems that enable organizations to move faster and deliver stronger business results.

About Donald Monk
Monk is a global technology executive with more than 35 years of experience leading large, complex digital, data and technology organizations. He has deep expertise in shaping enterprise technology strategy, modernizing digital capabilities and enabling business growth through innovation.

Monk spent 33 years at General Mills, ultimately serving as chief information officer, where he led global technology strategy, delivery and operations across the company's international footprint. He later joined Cargill, most recently serving as senior vice president of strategy, governance and transformation for the company's digital technology and data organization. In that role, he guided global strategy and transformation efforts across all aspects of the digital and data function, including people, process, analytics and AI, finance and technology governance.

Throughout his career, Monk has led major enterprise transformations, built high‑performing global teams and implemented modern technology platforms that strengthen operational performance and accelerate growth.

Monk holds a Master of Science in software engineering from the University of Minnesota – Twin Cities and a Bachelor of Science in computer science from Minnesota State University, Mankato.

About Hormel Foods — Inspired People. Inspired Food.^™
Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $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

View original content to download multimedia:https://www.prnewswire.com/news-releases/hormel-foods-appoints-donald-monk-as-companys-first-chief-technology-officer-302696245.html

SOURCE Hormel Foods Corporation

FAQ

Who is Donald Monk and what role will he have at Hormel Foods (HRL) starting March 23, 2026?

Donald Monk will serve as Hormel Foods' first chief technology officer, responsible for enterprise technology, digital and data strategy. According to Hormel Foods, he brings more than 35 years of global technology leadership and prior service as chief information officer at General Mills.

What does the new CTO appointment mean for Hormel Foods (HRL) technology modernization plans?

The appointment signals a company-wide priority to modernize technology and data platforms to support growth. According to Hormel Foods, the CTO will envision, align and deliver enterprise technology, digital and data strategy to accelerate modernization and business capabilities.

When is Donald Monk's start date as CTO at Hormel Foods (HRL) and why is the timing notable?

Donald Monk's start date is March 23, 2026, establishing near-term leadership for technology initiatives. According to Hormel Foods, the timely hire aims to accelerate modernization and strengthen digital and data capabilities supporting long-term growth.

How does Donald Monk's background qualify him for the CTO position at Hormel Foods (HRL)?

Monk has over 35 years of global technology experience and led enterprise transformations at large organizations. According to Hormel Foods, his tenure includes more than three decades at General Mills, where he ultimately served as chief information officer.

Will the CTO role at Hormel Foods (HRL) affect the company's digital and data strategy execution?

Yes, the CTO role centralizes accountability for technology, digital and data strategy to support execution. According to Hormel Foods, the CTO will be the senior-most technology leader responsible for aligning and delivering enterprise technology and data initiatives.