B&G Foods Selects Bob Cantwell as its Next President and CEO
October 15 2014 - 4:00PM
Business Wire
— Appointment to become effective on January
1, 2015 —
— Company Commences Search for new CFO
—
B&G Foods, Inc. (NYSE:BGS) announced today that it has
appointed Robert C. Cantwell, age 57, as its next President and
Chief Executive Officer, effective January 1, 2015. Mr.
Cantwell, who currently serves as B&G Foods’ Executive Vice
President of Finance and Chief Financial Officer, will succeed
David L. Wenner, age 64, who, as announced earlier this year, plans
to retire at year end. Mr. Wenner is expected to remain on the
Board of Directors. The company has immediately commenced a search
for a new Executive Vice President of Finance and Chief Financial
Officer.
“Bob Cantwell has been a key member of our management team for
more than 30 years. His strong leadership skills, breadth of
experience, financial expertise, integrity and passion for our
business have been invaluable as B&G Foods has grown from a
small, regional pickle company to a leading public food company
with a diverse portfolio of iconic brands,” said Stephen C.
Sherrill, Chairman of the Board of Directors. “Bob’s long list of
accomplishments, including in mergers & acquisitions, capital
markets transactions, operational improvements and cost reduction
efforts, has helped lead to tremendous value creation for
B&G Foods’ stockholders over the years in the form of
dividends and stock price appreciation. Bob Cantwell is uniquely
qualified to be the next CEO of B&G Foods and to lead the
company through its next phase of growth.”
“I have worked alongside Bob for 25 years and could not think of
a better CEO for the Company. Bob’s intimate knowledge of our
business and operating disciplines make him well qualified for the
position,” said Dave Wenner, President and Chief Executive Officer.
“I look forward to remaining on the Board and continuing to work
with Bob.”
Mr. Cantwell joined B&G Foods in 1983 as the Assistant Vice
President of Finance. In that position, Mr. Cantwell had
responsibility for all financial reporting and budgeting. Mr.
Cantwell was promoted to his current position in 1991, assuming
full responsibility for all financial matters, as well as
management information systems, data processing, administration and
corporate human resources. Prior to joining B&G Foods, Mr.
Cantwell spent four years at Deloitte & Touche LLP, where he
received accreditation as a certified public accountant. Mr.
Cantwell has served on the Board of Directors of B&G Foods
since 2005.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, branded
shelf-stable foods across the United States, Canada and Puerto
Rico. Based in Parsippany, New Jersey, B&G Foods’
products are marketed under many recognized brands, including
Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country
Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Emeril’s,
Grandma’s Molasses, JJ Flats, Joan of Arc,
Las Palmas, MacDonald’s, Maple Grove Farms, Molly
McButter, Mrs. Dash, New York Flatbreads,
New York Style, Old London, Original Tings, Ortega,
Pirate’s Booty, Polaner, Red Devil, Regina, Rickland Orchards,
Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin,
Trappey’s, TrueNorth, Underwood, Vermont Maid and Wright’s.
B&G Foods also sells and distributes two branded household
products, Static Guard and Kleen Guard.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.”
The forward-looking statements contained in this press release
include without limitation statements related to the company’s
prospects for future growth. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown
factors that could cause the actual results of B&G Foods
to be materially different from the historical results or from any
future results expressed or implied by such forward-looking
statements. In addition to statements that explicitly describe such
risks and uncertainties readers are urged to consider statements
labeled with the terms “believes,” “belief,” “expects,” “projects,”
“intends,” “anticipates” or “plans” to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in B&G Foods’ filings with
the Securities and Exchange Commission, including under Item 1A,
“Risk Factors” in the company’s most recent Annual Report on Form
10-K and in its subsequent reports on Forms 10-Q and 8-K. Investors
are cautioned not to place undue reliance on any such forward
looking statements, which speak only as of the date they are made.
B&G Foods undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Investor Relations:ICR, Inc.Don Duffy, 866-211-8151orMedia
Relations:ICR, Inc.Matt Lindberg, 203-682-8214
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