B&G Appoints New Execs, Offsets Costs

March 1, 2019
Three appointments, two retirements as Ken Romanzi becomes CEO in April.

With a semi-new CEO taking over April 6, B&G Foods Inc. on Feb. 26 announced a handful of executive appointments and a bit of cost-cutting, following a year of slightly higher sales and slightly lower net income.

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Robert Cantwell announced in January he would retire as CEO, and Kenneth Romanzi, currently an executive vice president and COO, will take over as president/CEO on April 6. This week, the company also announced that Vanessa Maskal, Executive Vice President of Sales and Marketing, will retire on April 5.

Erich Fritz will join B&G as an Executive Vice President and Chief Supply Chain Officer. He just spent nine years at Ocean Spray, most recently as Vice President of Research & Development, Quality, Engineering and Medical Research, and before that as Vice President of Manufacturing & Engineering. He also held operations positions at POM Wonderful, Naked Juice Co., balduccis.com, Michael Foods and Nabisco.

Jordan Greenberg, who has been with B&G since 1999, was promoted to Executive Vice President and Chief Commercial Officer. He was Vice President and General Manager of the Green Giant business. Ellen Schum, Vice President of U.S. Retail Sales since July 2018, becomes Executive Vice President and Chief Customer Officer.

The company on Feb. 26 also reported full-year 2018 sales of $1.701 billion, up from $1.646 billion, but net income of $172 million, down from $217 million.

In a conference call with financial analysts, Romanzi said the Green Giant business was revitalized but company-wide costs increased, especially freight – which will be fixed with price increases. And the Pirate's Booty business was sold to Hershey.

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