Appoints Veteran Executive with Over 23 Years
of Branded Consumer Packaged Goods Experience
Hostess Brands, Inc. (NASDAQ: TWNK, TWNKW) (the “Company”),
today announced that its Board of Directors has named consumer
packaged goods executive Andrew “Andy” Callahan as the Company’s
President and Chief Executive Officer, effective May 7, 2018. He
will replace C. Dean Metropoulos, the Company’s Executive Chairman,
who has been serving in the expanded role of interim President and
Chief Executive Officer since March 31, 2018. Mr. Metropoulos will
remain Executive Chairman of the Company’s Board of Directors.
Today, Mr. Callahan was also appointed as a director on the
Company’s Board of Directors.
Mr. Callahan joins the Company with more than 23 years of
executive leadership experience serving in key consumer packaged
goods industry roles at Tyson Foods, Inc., The Hillshire Brands
Company, Sara Lee Corporation and Kraft Foods, Inc.
Dean Metropoulos commented, “We are delighted to welcome Andy to
the Hostess team. He is a very accomplished consumer packaged goods
executive with strong experience in leading brands and we welcome
his leadership, brand and innovation expertise as we continue to
further build our distribution and market share in the sweet baked
goods category. We believe Andy has the right combination of
entrepreneurial and strategic leadership and people management
skills to lead Hostess into our next phase of growth and build
value for our stockholders.”
“I am honored and excited to have the opportunity to lead the
Hostess Brands team,” said Mr. Callahan. “I have admired the
Hostess® brand and I look forward to working with Dean, the Board
of Directors, our leadership team and employees to realize the
growth potential of the Company.”
Mr. Callahan previously served as Tyson Foods’ President of
Retail Packaged Brands, managing Tyson Foods’ retail consumer
brands, including iconic brands such as Tyson®, Jimmy Dean®,
Hillshire Farm®, Sara Lee®, Aidells® and Ball Park®, as well as
President of North American Foodservice and International.
Additionally, he was responsible for Tyson Pet Products, Inc.,
which makes True Chews® brand dog treats. Prior to that, Mr.
Callahan served as President of Retail for Hillshire Brands during
which time the company completed an initial public offering and
then was subsequently acquired by Tyson Foods. He also served as
Chief Customer Officer for Sara Lee Corporation North America,
President of Sara Lee Foodservice Division, and General Manager of
Jimmy Dean. Prior to Sara Lee, he spent 13 years at Kraft Foods in
roles of increasing responsibility in marketing, sales, and general
management. Prior to beginning his corporate career, Mr. Callahan
spent seven years in the U.S. Navy as a flight officer. He earned a
B.S. in Mechanical Engineering from the United States Naval Academy
and an MBA from the Florida Institute of Technology.
About Hostess Brands, Inc.
The Company is one of the leading packaged food companies
focused on developing, manufacturing, marketing, selling and
distributing fresh sweet baked goods in the United States. The
brand's history dates back to 1919, when the Hostess® CupCake was
introduced to the public, followed by Twinkies® in 1930. Today, the
Company produces a variety of new and classic treats including Ding
Dongs®, Ho Hos®, Donettes®, Hostess Bake ShopTM and Fruit Pies, in
addition to Twinkies® and CupCakes.
For more information about Hostess products and Hostess Brands,
please visit hostesscakes.com. Follow Hostess on Twitter:
@Hostess_Snacks; on Facebook: facebook.com/Hostess; on Instagram:
Hostess_Snacks; and on Pinterest: pinterest.com/hostesscakes. For
more information about Hostess products and Hostess Brands, please
visit hostesscakes.com. Follow Hostess on Twitter: @Hostess_Snacks;
on Facebook: facebook.com/Hostess; on Instagram: Hostess_Snacks;
and on Pinterest: pinterest.com/hostesscakes.
Forward-Looking Statements
This press release contains statements reflecting the Company's
views about its future performance that constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended, that involve substantial risks and
uncertainties. Forward-looking statements are generally identified
through the inclusion of words such as “believes,” “expects,”
“intends,” “estimates,” “projects,” “anticipates,” “will,” “plan,”
“may,” “should,” or similar language. Statements addressing the
Company's future operating performance and statements addressing
events and developments that the Company expects or anticipate will
occur are also considered as forward-looking statements. All
forward-looking statements included herein are made only as of the
date hereof. The Company undertakes no obligation to update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
These statements inherently involve risks and uncertainties that
could cause actual results to differ materially from those
anticipated in such forward-looking statements. These risks and
uncertainties include, but are not limited to, maintaining,
extending and expanding the Company's reputation and brand image;
protecting intellectual property rights; leveraging the Company's
brand value to compete against lower-priced alternative brands;
correctly predicting, identifying and interpreting changes in
consumer preferences and demand and offering new products to meet
those changes; operating in a highly competitive industry; the
continued ability to produce and successfully market products with
extended shelf life; the ability to drive revenue growth in key
products or add products that are faster-growing and more
profitable; volatility in commodity, energy, and other input
prices; dependence on major customers; geographic focus could make
the Company particularly vulnerable to economic and other events
and trends in North America; increased costs in order to comply
with governmental regulation; general political, social and
economic conditions; a portion of the workforce belongs to unions
and strikes or work stoppages could cause the business to suffer;
product liability claims, product recalls, or regulatory
enforcement actions; unanticipated business disruptions; dependence
on third parties for significant services; insurance may not
provide adequate levels of coverage against claims; failures,
unavailability, or disruptions of the Company's information
technology systems; the Company's ability to achieve expected
synergies and benefits and performance from the Company's strategic
acquisitions; dependence on key personnel or a highly skilled and
diverse workforce; and the Company's ability to finance
indebtedness on terms favorable to the Company; and other risks as
set forth from time to time in the Company's Securities and
Exchange Commission filings.
As a result of a number of known and unknown risks and
uncertainties, the Company's actual results or performance may be
materially different from those expressed or implied by these
forward-looking statements. Risks and uncertainties are identified
and discussed in Item 1A-Risk Factors in the Company's Annual
Report on Form 10-K and its subsequent Securities and Exchange
Commission filings. All subsequent written or oral forward-looking
statements attributable to us or persons acting on the Company's
behalf are expressly qualified in their entirety by these risk
factors. The Company undertakes no obligation to update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180412006336/en/
Investors, please contact:ICRKatie
Turner646-277-1228katie.turner@icrinc.comorMedia, please
contact:LAK Public Relations, Inc.Hannah
Arnold212-329-1417harnold@lakpr.comorLAK Public Relations,
Inc.Marie Espinel212-899-4744mespinel@lakpr.com
Hostess Brands (NASDAQ:TWNK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hostess Brands (NASDAQ:TWNK)
Historical Stock Chart
From Apr 2023 to Apr 2024