B&G Foods, Inc. (NYSE: BGS), announced today that its Board
of Directors has elected Charles F. Marcy and Cheryl M. Palmer to
serve as directors until the 2011 annual meeting of stockholders.
The appointments, which are effective immediately, fill a vacancy
on the board created by the previously announced resignation of
James R. Chambers, and also increase the size of B&G Foods’
Board to eight members, including six independent directors.
Dennis M. Mullen, Chairman of the Board’s Nominating and
Governance Committee, said “The Board is very pleased to have these
two talented and proven leaders join us. We are confident that
Chuck Marcy and Cheryl Palmer will complement the existing
strengths of our Board and provide additional food industry and
executive leadership experience that will greatly benefit B&G
Foods and all of our stockholders.”
David L. Wenner, President, Chief Executive Officer and a
Director of B&G Foods, stated “We are excited to add Chuck and
Cheryl to our Board and look forward to adding their insight to our
boardroom deliberations. Chuck has a track record of growing
businesses both organically and through acquisitions, particularly
with the nutritional, “better-for-you” products today’s consumer
demands. And Cheryl will bring to our boardroom not only her strong
consumer marketing background but also her understanding of the
food industry from the retailer’s point of view.”
Stephen C. Sherrill, Chairman of the Board of Directors, added
“On behalf of the entire Board of Directors and the employees of
B&G Foods, I would like to thank Jim Chambers for his sound
advice and counsel over the past nine years. Those years were a
period of significant growth and change for our company, and Jim
helped guide management’s successful strategy of blending
acquisition and organic growth to create a strong company with
industry-leading metrics. We wish Jim the best of luck at
Kraft Foods.”
Charles “Chuck” F. Marcy served as President and Chief Executive
Officer and a member of the Board of Directors of Healthy Food
Holdings (HFH), a holding company for branded “better-for-you”
foods from 2005 through April 2010. Under Mr. Marcy’s guidance,
HFH’s portfolio included Breyers Yogurt, YoCrunch Yogurt and Van’s
International Foods. Previously, Mr. Marcy served as President,
Chief Executive Officer and a Director of Horizon Organic Holdings,
then a publicly traded company with a leading market position in
the organic food business in the United States and the United
Kingdom, from 1999 to 2005. Mr. Marcy also previously served as
President and Chief Executive officer of the Sealright Corporation,
a manufacturer of dairy packaging and packaging systems, from 1995
to 1998. From 1993 to 1995, Mr. Marcy was President of the Golden
Grain Company, a subsidiary of Quaker Oats Company and maker of the
Near East brand of all-natural grain-based food products. From 1991
to 1993, Mr. Marcy was President of National Dairy Products
Corp., the dairy division of Kraft General Foods. From 1974 to
1991, Mr. Marcy held various senior marketing and strategic
planning roles with Sara Lee Corporation and General Foods.
Cheryl M. Palmer has served as Corporate Vice President, Revenue
& Product Development (Chief Revenue Officer) of Club Quarters,
LLC, which operates full service hotels for member organizations in
prime, downtown locations, since 2007. Previously Ms. Palmer was
Vice President, Northeast Zone, for The Gap, from 2005 to 2006.
Prior to that Ms. Palmer served in executive leadership positions
at The Great Atlantic & Pacific Tea Company (A&P),
including as President of the Food Emporium, a specialty food
retail division, from 2000 to 2005, and as Senior Vice President,
Strategic Marketing of A&P from 1999 to 2000. Prior to joining
A&P, Ms. Palmer served as Group Vice President and General
Manager Portfolio Leadership for Allied Domecq Spirits & Wines
from 1997 to 1999. From 1985 to 1996, Ms. Palmer held various
senior marketing and management positions at the Mott’s North
America and Schweppes USA divisions of at Cadbury Beverages,
Inc.
Mr. Chamber’s resignation, which was effective on June 30, 2010,
was in connection with his having accepted a position as President,
Snacks & Confectionery, Kraft Foods North America following
Kraft Foods’ recent acquisition of Cadbury plc. Prior to joining
Kraft Foods, Mr. Chambers held senior management positions with
Cadbury since 2005, most recently as President/CEO, North America
and prior to that as President, Americas Confectionary.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, shelf-stable
foods across the United States, Canada and Puerto Rico. B&G
Foods’ products include hot cereals, fruit spreads, canned
meats and beans, spices, seasonings, marinades, hot sauces, wine
vinegar, maple syrup, molasses, salad dressings, Mexican-style
sauces, taco shells and kits, salsas, pickles, peppers and other
specialty food products. B&G Foods competes in the retail
grocery, food service, specialty, private label, club and mass
merchandiser channels of distribution. Based in Parsippany, New
Jersey, B&G Foods’ products are marketed under many recognized
brands, including Ac’cent, B&G, B&M, Brer Rabbit, Cream of
Rice, Cream of Wheat, Emeril’s, Grandma’s Molasses, Joan of
Arc, Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red
Devil, Regina, Sa-són, Trappey’s, Underwood, Vermont Maid and
Wright’s.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.”
These 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,” “intends,” “anticipates” or “plans” to be uncertain and
forward-looking. The forward-looking statements contained in this
press release 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.
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