ConAgra Foods Inc. said Chief Financial Officer John Gehring is retiring after 14 years with the company, but will remain in the role until the food maker finds his replacement.
The Omaha, Neb., company said it has initiated a search for a new CFO and that Mr. Gehring would assist with the transition.
Mr. Gehring joined the maker of Snack Pack puddings and Peter Pan peanut butter in 2002. He assumed the CFO spot in 2009.
Separately on Tuesday, ConAgra backed its earnings guidance for the year, still projecting $2.05 to $2.07 in adjusted per-share profit. Analysts are looking for $2.10 a share.
ConAgra has reported strong results recently, posting a profit that topped analysts’ expectations in the latest quarter. The company is in the process of spinning off its Lamb Weston frozen potato business, which will sells foods to restaurants and other commercial customers.
Shares in the company, up 14% over the past 12 months, were inactive during premarket trading.
By Lisa Beilfuss
Source: Wall Street Journal
A cultured meatball containing the extinct mammoth’s myoglobin protein demonstrates the potential power of cell-based meat and was specially developed “to make consumers think about where their food comes from,” according to the chief scientists behind the prehistoric project.
If the proposal is passed by parliament, companies in Italy will not be allowed to produce food or feed “from cell cultures or tissues derived from vertebrate animals,” the bill seen by Reuters stated. A breach of the rules could result in fines of up to €60,000.
Diageo has announced that Sir Ivan Menezes is retiring as chief executive officer and member of the company’s board on 30 June. Menezes will be succeeded by Debra Crew – currently COO at the drinks giant – who will take up the post on 1 July, becoming the company’s first female CEO.
