Hormel elects three new board members
Sept. 27, 2011
by Meat&Poultry Staff
AUSTIN, Minn. – Glenn Forbes, M.D., Stephen Lacy and Michael Mendes were elected to the Hormel Foods board of directors at the company’s Sept. 24 meeting. Forbes is the medical director for initiatives in diversified business activities for medical imaging services at Mayo Clinic in Rochester, Minn. Lacy is chairman of the board, president and chief executive officer at Meredith Corporation, which is headquartered in Des Moines, Iowa. Mendes is chairman of the board, president and chief executive officer at Diamond Foods Inc., based in San Francisco, Calif.
Forbes, Lacy and Mendes were nominated to fill the seats created by the retirements of Ronald Pearson, Hugh Smith, M.D., and John Turner. Pearson, who became a director in 2007, will retire effective Sept. 30. Smith and Turner, who became directors in 2006 and 2000, respectively, will retire effective Nov. 21.
“We welcome Glenn, Stephen and Michael to the board and look forward to the insight they will contribute from their respective industries to help us continue growing the company,” said Jeffrey Ettinger, chairman of the board, president and chief executive officer at Hormel Foods. “We want to thank Ron, Hugh and John for their dedicated leadership and strategic insight, which has helped advance our business. We wish them the best in their retirements.”
On Nov. 21, John Morrison will replace Turner as lead director of the board.
In other news, Hormel Foods Corporation’s board of directors has declared a regular quarterly dividend of 12.75¢ per share on the common capital stock of the corporation. The dividend is to be paid Nov. 15 to stockholders of record at the close of business on Oct. 22. This marks the company’s 333rd quarterly dividend.