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
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.
