According to a report, the Pinnacle Foods Group announced its CEO is leaving the company and the board has appointed a former executive at snack food company Mars Inc. in his place.
Robert Gamgort, 46 , who worked most recently as North American President for Mars will assume the new role immediately.
He replaces Jeffrey Ansell, 50 who is leaving Pinnacle to pursue other interests, according to the company.
The New Jersey-based food company also said that Roger Deromedi, who serves as chairman of the company's board of directors, will become non-executive chairman.
Pinnacle Foods is a portfolio company of investment firm The Blackstone Group. Shares of Blackstone rose 36 cents, or 4.1 percent, to $9.09 in late trading Monday.