Hormel Foods Corp.

Tuesday, March 28, 2000

Hormel Foods Corp. has announced the impending retirement of Don J. Hodapp, executive vice president and chief financial officer, ending a long and distinguished career with the Austin-based marketer of consumer-branded meat and food products.

Hodapp announced his planned April 30 retirement at the company’s board of directors meeting Monday.

He will be succeeded by Michael J. McCoy, currently vice president and controller. He was promoted by the board to senior vice president of administration and chief financial officer. McCoy also was elected to the company’s board of directors.

Also elected to the board of directors was John G. Turner, chairman and chief executive officer of ReliaStar Financial Corp., Minneapolis. His appointment, effective immediately, raises the number of board members to 14.

In other board action, Treasurer James N. Sheehan was advanced to vice president and comptroller, replacing McCoy, and Assistant Controller Fred D. Halvin was promoted to corporate treasurer.

In addition, Roland G. Gentzler, director of finance-refrigerated foods, was named an assistant controller of the company.

Hodapp started in 1966

Hodapp will conclude an exemplary Hormel Foods career that started in March 1966 as director of data processing at the company’s corporate offices in Austin.

He has held several top management positions, including serving as general manager of the Fremont, Neb., plant and as vice president of strategic planning and development.

In April 1986, Hodapp was promoted to group vice president of administration and chief financial officer, elected to the Hormel Foods board of directors and named to the executive committee. He was advanced to executive vice president in July 1992.

"In his distinguished career, Don has made many contributions vital to our company’s success," said Joel W. Johnson, chairman of the board, president and chief executive officer. "We will miss the financial insight and business acumen he provided throughout his long and successful Hormel Foods career."

McCoy takes over

As newly appointed senior vice president of administration and chief financial officer, McCoy will oversee a variety of functions comprised of accounting, information systems, investor relations, accounts payable, treasury and Hormel Financial Services.

He also will supervise all financial matters involving the company’s businesses worldwide.

McCoy joined the company’s treasurer’s office in October 1994 with a 20-year background in accounting and finances and, later that year, was named assistant treasurer.

He was promoted to company treasurer in January 1996 and was elected vice president one year afterward.

Turner is new director

Turner has been ReliaStar Financial Corp.’s chairman and chief executive officer for nearly seven years; he previously served as its president and chief operating officer.

With ReliaStar Life Insurance Co., formerly known as Northwestern National Life, he served in several key management positions, including senior vice president and chief actuary, executive vice president, senior executive vice president and president and director.

Turner has and presently serves on many professional and community boards and organizations.

Currently, he is a board member of ShopKo Stores and the American Council of Life Insurance as well as chairman of the board of the Insurance Federation of Minnesota.

He also is involved as a board member of the Alliance Health System and University of Minnesota’s Carlson School of Management as well as a member of the board of trustees of Hamline University in St. Paul.