Home » Black executive Jacinth Smiley’s leadership rewarded with $1.94-million salary in 2023

Black executive Jacinth Smiley’s leadership rewarded with $1.94-million salary in 2023

Black executive Jacinth Smiley's role in Hormel Foods nets $1.94-million salary in 2023

by Feyisayo Ajayi
Smiley Jacinth

One of America’s leading Black executives, Jacinth Smiley, the executive vice president and chief financial officer at Hormel Foods, a global branded food company based in Austin, received a compensation package totaling $1.94 million in 2023.

Joining Hormel Foods in April 2021, Smiley’s 2023 compensation package includes a base salary of $0.51 million and a non-equity incentive plan of $0.46 million — reflecting her pivotal role in the company’s financial success in 2023. 

In addition, Smiley was awarded a long-term incentive of $0.44 million, highlighting her position as one of America’s leading Black executives and reflecting her enduring dedication and expertise as a seasoned business executive.

CFO Smiley’s strategic vision: Hormel’s global footprint and iconic brands

Hormel Foods, a global food company operating in more than 80 countries with annual earnings exceeding $12 billion, owns popular brands like SPAM and Skippy. Recognized for workplace excellence, corporate responsibility, and innovation, it is a member of the S&P 500, honored by Newsweek and U.S. News & World Report.

Smiley, serving as Hormel Foods’ EVP and CFO, oversees financial strategy, performance evaluation, reporting, business planning, investor relations, treasury, tax, accounting, internal controls, and IT.

Joining in April 2021 as the group VP of corporate strategy, Smiley brings over 25 years of global finance experience, previously holding key roles at LyondellBasell and General Electric, including CFO, global controller, and FP&A director.

Empowering success: Smiley’s stake reflects commitment to Hormel’s financial resilience

Under Smiley’s joint leadership, Hormel Foods saw its total assets increase by 1.07 percent, from $13.31 billion in 2022 to $13.45 billion in 2023. However, the corporation experienced a 2.8-percent decline in revenue — dropping from $12.46 billion in 2022 to $12.11 billion in 2023.

Beyond her executive responsibilities, Smiley holds a 0.01-percent minority stake in Hormel Foods, or 56,658 shares, valued at $1.83 million, further underscoring Smiley’s dedication to the sustained success of the corporation.

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