Careers and Workforce

Rich Products Names New CEO

By Pan Demetrakakes, Senior Editor

Oct 04, 2019

Rich Products Corp. has designated a new CEO, as part of a long-term succession plan for the family-owned business.

Richard Ferranti, currently company president, will become CEO on Jan. 1, replacing Bill Gisel, who has headed the company for 13 years. Gisel will executive vice chair of Rich Holdings Inc., the parent company of Rich Products.

Ferrati and Gisel are both long-term employees of Rich, which pioneered non-dairy whipped toppings and coffee creamers. It now processes a wide variety of foods including cakes, pizza, doughnuts, pasta, cooking creams, appetizers and beverages, for foodservice and retail. Sales for the privately held firm in 2018 are estimated at $2.54 billion.

Gisel joined Rich in 1982 as the company’s first general counsel, becoming president and COO in 1996 and CEO in 2006. Ferranti joined as a salesman in 1986, becoming president of the international business group in 1997 and chief operating officer in 2012.

In a statement, the company noted that it “has devoted time, energy and focus for decades” to succession planning.

“Proactive succession planning is essential to the sustainability and growth of any organization," vice chair Mindy Rich, said in a statement. “At Rich's, it's even more critical, as it's directly linked to our family mandate of achieving long-term success as a family-owned business.”