Jeffrey M. Ettinger was the CEO of Hormel Foods Corporation from 2006 to 2016. When he took the reins, he was already familiar with the company, having started his career there back in 1989. His rise through the ranks was...

Jeffrey M. Ettinger was the CEO of Hormel Foods Corporation from 2006 to 2016. When he took the reins, he was already familiar with the company, having started his career there back in 1989. His rise through the ranks was marked by various roles, including Vice President and President of Jennie-O Foods. Under his leadership, Hormel Foods experienced significant growth, which likely contributed to his impressive compensation packages, peaking at over $12 million in total earnings in 2016. Ettinger was known for his commitment to aligning executive pay with company performance, focusing on metrics like earnings per share. After stepping down as CEO, he remained on the board as Chairman until 2017. During his tenure, Ettinger demonstrated a strong focus on operational performance, contributing to a culture that prioritized profitability and shareholder value.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Hormel Foods CEOs

H

Jeffrey M. Ettinger

Ex-CEO of Hormel Foods

Education

Not specified

Field of Expertise

Business & Management - Business Management

Sector of Economy

Consumer Defensive

Born

January 1, 1959 - 66 years ago

CEO of Hormel Foods for

10 years 9 months (Jan 2006 - Oct 2016)

Previous Experience

Various positions in the Company since 1989, including Vice President and President of Jennie-O Foods

Rivals

Competitors/colleagues of Jeffrey M. Ettinger

P

Robert V. Vitale

CEO of Post Holdings

2023 Compensation

Stock

$0.00

Salary

$1.25M

Bonus

$1.95M

Other

$105.89K

Total Holdings

$248.85M

M

Alan D. Wilson

CEO of McCormick & Company, Incorporated

2023 Compensation

Stock

$0.00

Salary

$1.10M

Bonus

$0.00

Other

$138.99K

Total Holdings

$46.09M

M

Lawrence E. Kurzius

CEO of McCormick & Company, Incorporated

2023 Compensation

Stock

$0.00

Salary

$1.25M

Bonus

$2.59M

Other

$160.78K

Total Holdings

$27.36M

T

Noel White

CEO of Tyson Foods

2023 Compensation

Stock

$300.00K

Salary

$1.20M

Bonus

$500.00K

Other

$200.00K

Total Holdings

$3.79M

T

Carlos Abrams-Rivera

CEO of The Kraft Heinz Company

2023 Compensation

Stock

$4.71M

Salary

$800.00K

Bonus

$2.26M

Other

$488.03K

Total Holdings

$19.28M

Holdings

See how much did Jeffrey M. Ettinger make over time.

Ettinger's ownership interest in Hormel Foods saw significant growth during his time as CEO. In late 2019, the value of his holdings peaked at approximately $87.89 million. However, like any financial journey, fluctuations occurred. By late 2021, his holdings saw...

Ettinger's ownership interest in Hormel Foods saw significant growth during his time as CEO. In late 2019, the value of his holdings peaked at approximately $87.89 million. However, like any financial journey, fluctuations occurred. By late 2021, his holdings saw a decline, settling to around $75 million. Notably, he enjoyed his highest wealth in the early months of 2021 when his holdings hovered around $86 million. The value of his investments shows the rollercoaster nature of stock ownership, especially in consumer food markets, where trends can shift quickly. It’s a testament to how executive decisions and external market conditions can impact personal wealth tied to company performance.

Mar 18, 2025

H

shares

HRL @ $29.94

T

shares

TTC @ $72.79

Total Stock Sold

$240.88K

TTC

$130.03K

1,796 TTC shares

HRL

$110.85K

7,472 HRL shares

What if they kept their stock?

If Jeffrey M. Ettinger didn't sell their stock, today they would have:
Extra TTC1,796 shares worth $116.83K and HRL7,472 shares worth $355.22K.
This is 95.97% and $231.17K more than what they got when they sold the stock.

Charitable Transactions

HRL

7,472 shares

HRL

Recent Charitable Transactions

HRL

3,736 shares

HRL

Aug 26, 2015

Charity

Insider Trading

See recent insider trades of Jeffrey M. Ettinger.

HRL

$160.00K

HRL at $29.98/share

Mar 21, 2025

Received

TTC

966 shares

TTC

Dec 15, 2022

Received

TTC

939 shares

TTC

Nov 1, 2022

Received

TTC

$105.48K

TTC at $98.03/share

Dec 15, 2021

Received

TTC

717 shares

TTC

Nov 1, 2021

Received

TTC

$52.67K

TTC at $92.56/share

Dec 15, 2020

Received

TTC

807 shares

TTC

Nov 2, 2020

Received

TTC

$130.81K

TTC at $72.83/share

Jun 9, 2020

Sale

TTC

$100.83K

TTC at $79.90/share

Dec 16, 2019

Received

TTC

892 shares

TTC

Nov 1, 2019

Received

Compensation History

See how much did Jeffrey M. Ettinger make over time.

During his tenure as CEO, Jeffrey M. Ettinger's compensation varied significantly, reflecting his performance-based pay structure. In 2016, he earned a total of $12,292,836, including a base salary of $1,019,455 and a small bonus. His pay strategy was designed to encourage executives to focus on delivering value to shareholders, tying his income to company performance. In earlier years, his pay also included substantial stock options, with one year reporting over $3 million in option awards. Although his compensation was competitive for his role, it was not extravagant compared to other executives in the industry, aligning with Hormel’s philosophy of sustaining a moderate compensation approach.

Year

2016

Total Compensation

$1.08M

Salary

$1.02M

Board Justification

The compensation programs are designed to attract, retain, and incentivize executive officers to create stockholder value, with a strong pay-for-performance philosophy.

Bonus

$400.00

Board Justification

Consists of a discretionary bonus that was paid, in the same amount, to all other eligible employees.

Other

$57.79K

Board Justification

Includes Joint Earnings Profit Sharing distributions, Company 401k Match, use of Company car, use of Company properties, and physical exams.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock awards were vested in 2016.

Performance Metrics

Compensation is based on Company performance metrics including earnings per share (EPS) and earnings before interest and taxes (EBIT).

Other Hormel Foods CEOs

Here are other CEOs of Hormel Foods

James P. Snee

CEO of Hormel Foods

October 2016 - Present