Sector News

ConAgra CFO John Gehring to retire

May 25, 2016
Consumer Packaged Goods

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

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