Advantage Solutions Inc. (NASDAQ: ADV) (“Advantage” or the
“Company”), a leading provider of outsourced sales and marketing
services to consumer goods manufacturers and retailers, today
announced the hires of Jack Pestello as chief operating officer of
branded services and Francesco Tinto as chief digital officer, both
reporting to Advantage CEO Dave Peacock.
Pestello joins Advantage with 30 years of global retail
experience, including building and executing innovative
merchandising programs. As COO of branded services, Pestello will
lead Advantage Sales, which provides industry-leading headquarter
sales services, retail services and business process outsourcing
for brands and retailers across all channels of trade in the U.S.
and Canada. He most recently served as a senior advisor in Boston
Consulting Group’s consumer practice, partnering primarily with
retail and manufacturing CEOs on growth strategies, operational and
organizational design, merchandising, sustainability and product
development. Pestello was previously an executive vice president
and chief merchandising officer at Big Lots, where he led the
omnichannel merchant team and was responsible for buying, planning,
financial services, pricing and promotions. He spent seven years
with Walmart, where as senior vice president and general manager
for grocery, he oversaw a $66 billion omnichannel portfolio across
the company’s largest merchandise division and was honored as a
Walmart “SVP of the Year.” His global experience includes serving
as the head of trade for Woolworth’s Australia Limited, where he
led the grocery team for Australia’s largest supermarket business
and managed and sourced the private brand portfolio. Pestello’s
early career includes 20 years at Daymon in roles leading new
business development, international operations and private
brands.
As Advantage’s chief digital officer, Tinto will oversee the
company’s information technology team and Advantage Intelligence, a
portfolio of software solutions and services that turn data into
problem-solving insights and strategies that drive demand,
distribution and supply chain efficiencies. His 30 years of
technology experience includes leadership roles at some of the
world’s most iconic brands, including Kraft Heinz Company, Procter
& Gamble and Walgreens Boots Alliance, where he most recently
served as global chief information officer. In that role, Tinto
oversaw the company’s digital transformation, launching a new
digital experience and customer insights platform that delivered
personalized offerings and blended online and offline customer
experiences. Earlier, he was the global chief information officer
for Kraft Heinz, where he led the complete technology integration
for the merger between Kraft Foods and Heinz, defining streamlined
operating processes and implementing system, application and
product solutions. Prior to that, Tinto spent more than a decade in
information services and technology leadership roles at Procter
& Gamble, where he was based in Rome. His areas of expertise
include data analytics, business intelligence, consumer solutions
development, business process optimization and technical
services.
“Jack and Francesco each have long histories of leading
high-performing teams, streamlining processes and innovating for
the future,” Peacock said. “I’m excited to welcome them to
Advantage and am looking forward to the immediate value they will
add to our leadership team and to our company as we work to better
enable the organization to evolve, drive growth and deliver strong
results.”
About Advantage Solutions
Advantage Solutions (NASDAQ: ADV) is a leading provider of
outsourced sales and marketing solutions to consumer goods
companies and retailers. Our data- and technology-driven services —
which include headquarter sales, retail merchandising, in-store and
online sampling, digital commerce, omnichannel marketing, retail
media and others — help brands and retailers of all sizes get
products into the hands of consumers, wherever they shop. As a
trusted partner and problem solver, we help our clients sell more
while spending less. Headquartered in Irvine, California, we
have offices throughout North America and strategic investments in
select markets throughout Africa, Asia, Australia and Europe
through which we serve the global needs of multinational, regional
and local manufacturers. For more information, please visit
advantagesolutions.net.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements within the meaning of the federal
securities laws, including statements regarding expected
leadership, contributions and potential success of the Company’s
new executives. Forward-looking statements generally relate to
future events or Advantage’s future financial or operating
performance. These forward-looking statements generally are
identified by the words “may”, “should”, “expect”, “intend”,
“will”, “would”, “could”, “estimate”, “anticipate”, “believe”,
“predict”, “confident”, “potential” or “continue”, or the negatives
of these terms or variations of them or similar terminology. Such
forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
risks, uncertainties and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Advantage and its
management at the time of such statements, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, market-driven wage changes or changes to labor laws or wage or
job classification regulations, including minimum wage; the
COVID-19 pandemic and the measures taken in response thereto; the
availability, acceptance, administration and effectiveness of any
COVID-19 vaccine; Advantage’s ability to continue to generate
significant operating cash flow; client procurement strategies and
consolidation of Advantage’s clients’ industries creating pressure
on the nature and pricing of its services; consumer goods
manufacturers and retailers reviewing and changing their sales,
retail, marketing and technology programs and relationships;
Advantage’s ability to successfully develop and maintain relevant
omni-channel services for our clients in an evolving industry and
to otherwise adapt to significant technological change; Advantage’s
ability to maintain proper and effective internal control over
financial reporting in the future; potential and actual harms to
Advantage’s business arising from the Take 5 Matter; Advantage’s
substantial indebtedness and our ability to refinance at favorable
rates; and other risks and uncertainties set forth in the section
titled “Risk Factors” in the Annual Report on Form 10-K filed by
the Company with the Securities and Exchange Commission (the “SEC”)
on March 1, 2023, and in its other filings made from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Advantage assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Media Contact:press@advantagesolutions.net
Investor Relations Contact:Kimberly Esterkin
Addo Investor
Relationsinvestorrelations@advantagesolutions.net310-829-5400
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/8c2a8e95-72de-4fe9-914a-c6a7fe301043
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