Appoints Consumer Packaged Foods Sales and
Marketing Industry Veteran, Mike DeGrace, Senior Vice President of
Sales North America
Brian Goldberg, Chief Financial Officer, to
Transition into the Newly Created Role of Chief Strategy Officer,
Executive Vice President of Corporate Development
Stuart Telford Promoted to Senior Vice
President Global Operations
Amplify Snack Brands, Inc. (“Amplify” or the “Company”)
(NYSE:BETR), a leading marketer and manufacturer of branded
better-for-you snack food products, today announced it has
strengthened the Company’s executive leadership team by appointing
Mike DeGrace as Senior Vice President of Sales North America. Mr.
DeGrace joins Amplify with over 30 years of consumer packaged foods
experience in leading growth-oriented sales and business
development teams at Kellogg Foods, WhiteWave Foods, Chiquita,
ConAgra Foods and Kraft Foods.
“We are excited to further enhance and expand our leadership
team as we position ourselves for the next phase of our
organizational development and growth. The strengthening of our
leadership team will help us realize our major growth opportunities
in business development, product innovation and geographic
expansion with our international portfolio of better-for-you snack
food brands,” commented Tom Ennis, Amplify’s President and Chief
Executive Officer. “Mike is an incredibly talented sales executive
with strong national account relationships across multiple sales
channels, and we look forward to his strategic contributions as we
build upon our growth potential in North America.”
Most recently from 2014 to November 2016, Mr. DeGrace served as
Vice President Food Service Sales at Kellogg Foods and prior to
that was Vice President Sales Strategy and Planning. From 2007 to
2014, Mr. DeGrace held several positions at WhiteWave Foods
including Vice President Channels where he led national sales and
strategy development across club, drug and food service channels,
Vice President East where he led the grocery sales development
including trade spending and customer marketing, and Director of
the Kroger team where he led the transformation from a broker sales
model to a direct sales model. From 2006 to 2007, Mr. DeGrace was a
National Account Director at Chiquita and from 2002 to 2006 held
several Director positions in sales and business development at
ConAgra Foods. From 1987 to 2002, Mr. DeGrace also held various
sales and marketing positions at Kraft Foods. Mr. DeGrace holds a
Bachelor of Science in Finance from the University of Maryland.
Further, as part of the efforts to optimize the Company’s new
global organization, the Company also announced that Brian
Goldberg, Amplify’s Chief Financial Officer, will transition into
the newly created role of Chief Strategy Officer and Executive Vice
President Corporate Development, primarily focused on corporate
strategy, strategic partnerships, M&A execution and
integration, as well as other global corporate development
initiatives. This transition will occur upon the appointment of a
new Chief Financial Officer in 2017.
“We are pleased Brian will transition into an integral strategy
role during 2017, given his track record and strong background in
corporate development, as we focus on the Tyrrells integration and
realization of revenue synergies over the next several years,”
commented Ennis.
Additionally, as was previously announced, Amplify promoted
Stuart Telford, who previously served as the Tyrrells Group
Operations Director and brings over 18 years of operations
experience, to Senior Vice President of Global Operations and Jeff
Arnold to Vice President North America Operations. All three senior
executives will report directly to Tom Ennis, President and Chief
Executive Officer, while Mr. Arnold will report to Mr. Telford.
Lastly, Jason Shiver, Executive Vice President North America,
effective April 1, 2017, will transition into an executive advisory
role for the remainder of the year. As a result of these planned
executive transitions, Amplify’s Board of Directors will conduct a
comprehensive executive search for the positions of Chief Financial
Officer and General Manager/President North America.
“We remain intently focused on the execution of our growth
initiatives and building upon the success of our international
brands to drive sales and profitability. Stuart has already
demonstrated meaningful value add to the organization and expanded
our global capabilities in this core area. We would also like to
thank Jason for his tremendous contributions and long-time support
of Amplify and our brands as well as his continued involvement as
an advisor,” concluded Ennis.
About Amplify Snack Brands, Inc.
Headquartered in Austin, Texas, Amplify Snack Brands is a high
growth snack food company focused on developing and marketing
products that appeal to consumers’ growing preference for
Better-For-You (BFY) snacks. Our brands SkinnyPop®, Tyrrells®,
Paqui® and Oatmega® embody our BFY mission of “snacking without
compromise” and have amassed a loyal customer base across a wide
range of food distribution channels in the United States, United
Kingdom, Canada, Europe and Australia. For additional information,
please visit: http://amplifysnackbrands.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
regarding our performance. Forward-looking statements generally
relate to future events or our future financial or operating
performance. In some cases, you can identify forward-looking
statements because they contain words such as “may”, “will”,
“should”, “expects”, “plans”, “anticipates”, “could”, “intends”,
“target”, “projects”, “contemplates”, “believes”, “estimates”,
“predicts”, “potential” or “continue” or the negative of these
words or other similar terms or expressions that concern our
expectations, strategy, plans or intentions. Forward-looking
statements are subject to known and unknown risks and uncertainties
and are based on potentially inaccurate assumptions that could
cause actual results to differ materially from those expected or
implied by the forward-looking statements. If any such risks or
uncertainties materialize or if any of the assumptions prove
incorrect, our results could differ materially from the results
expressed or implied by the forward-looking statements we make.
The important factors that could cause actual results to differ
materially from those in any forward-looking statements include,
but are not limited to, the following: (i) changes in consumer
preferences and discretionary spending may have a material adverse
effect on our brand loyalty, net sales, results of operations and
financial condition, (ii) we rely on sales to a limited number of
distributors and retailers for the substantial majority of our net
sales, and the loss of one or more such distributors or retailers
may harm our business, (iii) sales of a limited number of SkinnyPop
products and flavors contributed nearly all of our historical
profitability and cash flow and a reduction in the sale of our
SkinnyPop products would have a material adverse effect on our
ability to remain profitable and achieve future growth, and (iv)
our ability to successfully integrate the Tyrrells business and our
other recent acquisitions with our existing operations.
Further information on these and other factors that could affect
our financial results and the forward-looking statements in this
press release are included in our Annual Report on Form 10-K for
the year ended December 31, 2015 and our Quarterly Reports on Form
10-Q, as filed with the Securities and Exchange Commission (“SEC”)
and in other filings we will make with the SEC from time to time,
particularly under the caption Risk Factors.
You should not place undue reliance upon forward-looking
statements as predictions of future events. Amplify has based the
forward-looking statements contained in this press release on its
current expectations and projections about future events and trends
that it believes may affect its business, financial condition,
results of operations and prospects. The forward-looking statements
made in this press release relate only to events as of the date on
which the statements are made. Amplify undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as may be required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170103006029/en/
InvestorsICRKatie Turner, 646-277-1228orMediaICRCory Ziskind,
646-277-1232cory.ziskind@icrinc.com
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