Hormel Foods Corporation announced that Jody H. Feragen will retire as executive vice president and chief financial officer, and as a member of the Board of Directors, effective October 30, 2016. The Board of Directors elected James N. Sheehan to be the company's next senior vice president and chief financial officer, effective October 31, 2016. Sheehan was most recently elected as vice president and chief accounting officer for the company.
For the last decade, Feragen led all financial areas of Hormel Foods Corporation including accounting, information technology, internal audit, investor relations and treasury. She joined Hormel Foods in 2000 as treasurer, assuming the title of vice president and treasurer in 2001. She was promoted to vice president of finance and treasurer in 2005 and was named senior vice president and CFO in 2007. She was promoted to executive vice president and CFO in 2010. Feragen has served on the Hormel Foods Board of Directors since 2007, and currently on the boards of Patterson Companies Inc., Graco, Inc. and the University of North Dakota Alumni Association and Foundation.
“When Jody’s outstanding ten-year tenure as CFO concludes at the end of this fiscal year, she will have played an integral role in helping Hormel Foods to deliver exceptional returns to our shareholders. She has provided rigorous and strategic focus to a broad array of decisions and initiatives, and has built a strong team of finance, tax, IT, investor relations and accounting personnel for our company,” said Jeffrey M. Ettinger, chairman and chief executive officer, Hormel Foods.
Ettinger added, “Jim is a true professional with deep knowledge of the Hormel Foods business and culture built over a 30-plus year career in finance and accounting. I am highly confident in Jim’s leadership and capabilities in this new role.”
Sheehan has been in finance and accounting leadership roles at Hormel Foods for more than twenty years. As vice president and chief accounting officer at Hormel Foods, Sheehan’s responsibilities include financial policies, internal controls, Sarbanes-Oxley Section 404 compliance and financial reporting as well as the general accounting, cost and business unit accounting functions of the company. He also oversees the information technology organization.
An employee of Hormel Foods for more than 30 years, Sheehan began his career as an accountant, quickly advancing to other management positions within the company. In 1998, he became president of Hormel Financial Services where he was instrumental in developing and implementing Hormel Financial Services functions and several financial systems. Prior to being named to his current position, Sheehan was treasurer at Hormel Foods and served as vice president and controller for 16 years. He is involved in industry organizations including the Financial Executive Institute and the Institute of Management Accountants.
In addition to his professional involvement, Sheehan is an active member of the community as the treasurer of both the Austin Area Catholic School Foundation and the Austin Country Club. He is also a former board member of the Mower County Red Cross, the Mower County United Way and the Austin Public Library.
Source: Hormel Foods Corp.