(Reuters) -Hormel Foods said on Monday that former CEO Jeffrey Ettinger would return to lead the manufacturer of peanut butter Skipipy on a provisional basis for 15 months from July 14.
Ettinger, 66, was managing director from 2005 to 2016 and will replace the current CEO of Hormel and President James Snee, 57, who announced his retirement in January.
The transition from management comes after the company has tightened its annual profits from the end of the end while it fights against supply chain problems and low demand.
SNEE will serve as a special advisor to the company until October 26 of this year, and Hormel expects what remains a consultant for an additional 18 months, said the company in a regulatory file.
The company said it was planning to appoint a permanent CEO in October of next year.
He also appointed John Ghingo, executive vice-president of the commercial retail unit, president of the company, also from July 14.
Hormel had previously declared that SNEE would serve as a strategic advisor to the board of directors until the end of his mandate and for 18 months later.
(Report by Neil J Kanatt in Bengaluru; edition by Leroy Leo)
