Gary Rodkin, ConAgra Foods CEO, Announces Intent to Retire
11 August 2014 - 9:45PM
Business Wire
ConAgra Foods, Inc. (NYSE:CAG), announced today that Gary
M. Rodkin, chief executive officer, has informed the ConAgra Foods
Board of Directors of his intention to retire at the end of the
company’s fiscal year, May 2015.
The Board of Directors has established a search committee, led
by independent director Richard Lenny, to identify Rodkin’s
successor. Lenny is the former chairman and chief executive officer
of The Hershey Co. and has served on the ConAgra Foods board since
2009.
Steven Goldstone, chairman of ConAgra Foods, said, “ConAgra
Foods is making good progress on its priorities, and we are
confident in the company’s ability to deliver on its fiscal year
EPS commitments. The Board is extremely appreciative of Gary’s
leadership, vision and accomplishments over his almost nine years
as CEO of ConAgra Foods. Under his stewardship, ConAgra Foods has
transformed from a holding company into one unified company, with a
well-balanced portfolio of Consumer, Commercial and Private Brand
businesses, and strong operating capabilities. To achieve this
transformation, Gary made necessary and bold moves with the
company’s portfolio and drove significant cultural change
throughout the business. We thank him for his hard work and
commitment to ConAgra Foods and its 34,000 employees. We also
appreciate the early notification Gary provided, so that we can
begin the search and put the right successor in place over the
course of this fiscal year. We look forward to Gary’s participation
in the succession process.”
Rodkin said, “It is a great privilege to lead ConAgra Foods, and
while I look forward to retirement, I will miss working alongside
so many smart and talented people who I’ve watched grow
tremendously in my nine years here. I’m pleased we are beginning my
last fiscal year at ConAgra Foods by making good progress, and I
have deep conviction that we are on the right path to deliver
sustainable, profitable growth due to our significantly improved
operational capabilities and our differentiated portfolio that is
right for today’s value-oriented consumers. I will continue to lead
our team with focus and enthusiasm until my successor is on board,
and I look forward to helping with the transition process.”
Rodkin, 62, joined ConAgra Foods in October 2005. Prior to
joining ConAgra Foods, he was chairman and chief executive officer
of PepsiCo® Beverages and Foods North America, where he led a $10
billion organization that included leading brands such as Pepsi®,
Gatorade®, Quaker Foods® and Tropicana®. He joined PepsiCo in 1998
after it acquired Tropicana, where he had served as president since
1995. From 1979 to 1995, he held marketing and general management
positions of increasing responsibility at General Mills®, with his
last three years at the company as president of the Yoplait® yogurt
division.
Rodkin graduated Phi Beta Kappa with a bachelor's degree in
economics from Rutgers College and an M.B.A. from Harvard Business
School, where he was recently named a Fellow of Executive
Education. He serves on the board of overseers for Rutgers College,
the board of directors for Grocery Manufacturers Association where
he is also past chairman, the board of directors for Food Marketing
Institute, and the board of directors of Avon® Products. Gary also
is Chairman of Boys Town®, a member of the Strategic Air Command
Consultation Committee, and a member of the Omaha Chamber of
Commerce.
About ConAgra Foods
ConAgra Foods, Inc. (NYSE: CAG) is one of North America’s
largest packaged food companies with branded and private branded
food found in 99 percent of America’s households, as well as a
strong commercial foods business serving restaurants and
foodservice operations globally. Consumers can find recognized
brands such as Banquet®, Chef Boyardee®, Egg Beaters®, Healthy
Choice®, Hebrew National®, Hunt’s®, Marie Callender’s®, Orville
Redenbacher’s®, PAM®, Peter Pan®, Reddi-wip®, Slim Jim®, Snack
Pack® and many other ConAgra Foods brands, along with food sold by
ConAgra Foods under private brand labels, in grocery, convenience,
mass merchandise, club and drug stores. Additionally, ConAgra Foods
supplies frozen potato and sweet potato products as well as other
vegetable, seasoning blends, flavors, and bakery products to
commercial and foodservice customers. ConAgra Foods operates
ReadySetEat.com, an interactive recipe website that provides
consumers with easy dinner recipes and more. For more information,
please visit us at www.conagrafoods.com.
MEDIAConAgra Foods, Inc.Teresa Paulsen, 402-240-5210Vice
President,Communication & External
RelationsTeresa.paulsen@conagrafoods.comorANALYSTSConAgra
Foods, Inc.Chris Klinefeltertel, 402-240-4154Vice President,
Investor
Relationschris.klinefelter@conagrafoods.comwww.conagrafoods.com
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