HRL: Leadership change

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On August 24, 2026, Hormel Foods Corporation (the “Company”) announced the appointment of Ash Bhumbla as Executive Vice President and Chief Financial Officer, effective September 8, 2026. In connection with Mr. Bhumbla’s assumption of the role of Chief Financial Officer on September 8, 2026, Paul R. Kuehneman’s service as Interim Chief Financial Officer will conclude. Mr. Kuehneman will continue to serve as the Company’s Vice President and Controller and Principal Accounting Officer. Prior to joining the Company, Mr. Bhumbla, age 39, served Tyson Foods, Inc., a food company, as Senior Vice President and Chief Financial Officer, Chicken segment, from September 2023 to August 2026 and he concurrently served as Chief Financial Officer, International segment, from March 2025 to December 2025. Mr. Bhumbla previously served Perdue Farms Inc., a food and agriculture company, as Senior Vice President, Finance and Corporate Development, from November 2020 to August 2023 and Senior Vice President, Strategy and Corporate Development, from September 2019 to November 2020. Mr. Bhumbla holds an undergraduate degree from the University of Pennsylvania and an M.B.A. from The Wharton School of the University of Pennsylvania. The Company signed an offer letter with Mr. Bhumbla (the “Offer Letter”). As set forth in the Offer Letter, Mr. Bhumbla will be entitled to the following initial compensation and benefits: (1) an annual base salary at the rate of $700,000 per year; (2) participation in the Company’s annual short-term incentive compensation program, with a target award opportunity equal to 100% of Mr. Bhumbla’s annual base salar