Hormel Foods announces CFO retirement and appointment
For the last decade, Ms. 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.
Ms. 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.
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.
Mr. Sheehan was most recently elected as vice president and chief accounting officer for the company. Mr. Sheehan has been in finance and accounting leadership roles at Hormel Foods for more than twenty years.
Mr. 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, he 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. ■