News Briefs: March 2008
Minneapolis-based Target Corp. eliminated trans fats from its entire Archer Farms line of private label foods in January. The discount retailer claims the Archer farms portfolio, which includes more than 2,000 items and is sold exclusively at Target's stores, is the first national proprietary food brand to eliminate added trans fats from its entire product portfolio.
Peter van Stolk resigned Dec. 31 as chairman and CEO of Jones Soda Co., the quirky Seattle company he founded then took public. Van Stolk will stay on the board, but will be replaced on an interim basis by Scott Bedbury as chairman and by Steve Jones as chief executive, both current board members, while the company looks for a permanent CEO.
Surinder Kumar, Wrigley Co.s chief innovation officer, will retire on July 1. Rob Peterson, currently vice president of new products and packaging, will succeed him. Kumar joined Wrigley in 2000 as the company's first chief innovation officer. Peterson has been with Chicago-based Wrigley since 2006.
There has been a handful of orderly promotions at Minnetonka, Minn.-based Michael Foods Inc. Gregg Ostrander, CEO since 1994 and chairman since 2001, was named executive chairman, but handing over the CEO job to David Johnson, who has been president, COO and CEO-elect since joining the company last April (when he left Kraft Foods as president-North American commercial). John Reedy, CFO since 1988 and executive vice president since 2000, steps up to vice-chairman. Taking over as CFO is Mark Westphal, who joined Michael Foods in 1995 and has been senior vice president of finance since 2006.