(Reuters) – Hormel Foods said on Tuesday that its chief executive, James Snee, will retire at the end of 2025, after leading the company for nearly nine years.

Peanut butter maker Skippy said Snee will serve as a strategic adviser to the board until the end of his term and for 18 months after that while it identifies a successor.

Snee, who is also the company’s president and chairman of the board, has been with Hormel since 1989.

He led its international division in 2011, overseeing the company’s growing global portfolio.

Snee’s retirement comes at a time when Hormel is battling slowing demand for its products and falling turkey prices.

The company in December had forecast sales and profit for fiscal 2025 below estimates.

(Reporting by Neil J Kanatt in Bangalore; Editing by Shreya Biswas)