Home » ConAgra Foods CEO Announces Search for Successor
ConAgra Foods CEO Announces Search for Successor
05/11/2005ConAgra Foods Chairman and Chief Executive Officer Bruce Rohde on May 10 launched a formal search for his own successor.
As part of the company's current strategic planning process, Rohde discussed succession planning with the ConAgra Foods Board of Directors and today formally asked the Board to approve the formation of a search committee that will be headed by Steven F. Goldstone, director, and retired Chairman and CEO of RJR Nabisco.
"My goal here is to set the stage for purposeful succession planning. Because of a diligent Board and a dedicated team of people, the right things have happened over the past several years. The company has made significant progress and in my view is now well poised for a new and significant phase of execution and growth," said Rohde.
The 56-year-old Rohde has served as CEO of ConAgra Foods since September 1997 and Chairman since September 1998. In that timeframe he has transformed the company from an agriculturally based conglomerate and built it into one of North America's largest packaged foods companies focused on retail, foodservice and ingredient customers. When he took over as CEO more than half of the company's sales were derived from commodity businesses; in 2004 earnings and dividends were record amounts, and more than 80% of the company's sales were derived from branded and value-added foods.
"As a result of Bruce's leadership ConAgra Foods is greatly transformed. When we recruited him as CEO we were looking for someone who was capable of rationalizing and consolidating a business that had grown very quickly through multiple acquisitions. He did that and more, improving the company's focus, increasing profit margins and prudently allocating capital towards strategic acquisitions, debt reduction, share repurchases and dividends. He also focused on building corporate-wide systems and processes that place the company in a position to execute its sales, marketing and operating programs in a highly coordinated way," said Carl E. Reichardt, lead director of ConAgra Foods Board of Directors, and retired chairman and CEO of Wells Fargo & Co.
During Rohde's tenure as CEO of ConAgra Foods:
- The company has been reshaped from 90 independent operating companies into three focused business segments serving customers in retail, foodservices and ingredients channels.
- The company divested commodity-based businesses, including fresh beef, pork and chicken, canned seafood, cheese, and agricultural inputs. The company still holds 15.4 million shares of Pilgrim's Pride (NYSE: PPC) as a result of the divestiture of its poultry business.
- The company is now focused on marketing, operational efficiency and business process consolidation to improve customer service, enhance consumer demand and grow margins.
ConAgra Foods, Inc. is one of North America's largest packaged food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include ACT II, Armour, Banquet, Blue Bonnet, Brown 'N Serve, Butterball, Chef Boyardee, Cook's, Crunch 'n Munch, DAVID, Decker, Eckrich, Egg Beaters, Fleischmann's, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Lamb Weston, Libby's, Lightlife, Louis Kemp, Lunch Makers, MaMa Rosa's, Manwich, Marie Callender's, Orville Redenbacher's, PAM, Parkay, Pemmican, Peter Pan, Reddi-wip, Rosarita, Ro*Tel, Slim Jim, Snack Pack, Swiss Miss, Van Camp's, Wesson, Wolf and many others. For more information, visit www.conagrafoods.com.
Happy Family Bought by Groupe Danone
Dannon parent acquires 92 percent of seven-year-old toddler food company.
Anuga 2013: A Taste of Global Innovations Set to Take Place October 5-9
The huge global food show will be October 5-9 in Cologne, Germany.
Vermont Passes Genetic Labeling Bill
The Vermont House of Representatives approved H.112 on May 10. The bill will go to the senate next in fall 2013. If passed, the earliest the act could become law is January 2014.
GMO Labeling Effort Reaches Washington
Senate and House bills would require the FDA to develop regulations for the labeling of food containing bioengineered ingredients.
Burger King CEO To Take Over at Heinz
Bernardo Hees of 3G Capital is new CEO of Pittsburgh acquisition.
The New Hostess Company Resumes Operations
The Metropolous-Apollo-controlled company plans to reopen four plants and hire workers, but not union labor.
- 04/19/2013 Cheesemaker, Restaurant Chain Hold Mac and Cheese Cookoff
- 04/19/2013 Restaurant Chain That Also Supplies School Lunches Goes Trans Fat-Free
$10 Billion Offer for D.E Master Blenders 1753
Former part of Sara Lee eyed by European fund Joh. A. Benckiser.
Pinnacle Foods Goes Public
Blackstone Group sells 32 percent of Pinnacle Foods into stock market.
- All news »
Access Food Processing and Wellness Foods magazines on-line and receive an e-mail each month when your new issue is ready. Subscribe Now »
Biweekly updates delivering feature articles, top industry news, company news, product announcements, technical issues and more. Subscribe Now »