B&G Foods has announced that Kenneth Romanzi has stepped down immediately from his role as group president and CEO, in order to pursue personal interests.
The company will initiate a search for a new president and CEO to replace Romanzi, but has appointed former long-serving CEO David Wenner as interim. Wenner served in the positions from 1993 to 2014 and has been a member of the board of directors since 1997.
Stephen Sherrill, chairman of the board of directors of B&G Foods, said: “Under Ken’s leadership, B&G Foods’ financial performance has been very strong during the ongoing pandemic, as our portfolio of leading brands has benefited from increased eating at home, resulting in strong year-over-year growth.”
Most recently, the company has agreed to acquire Crisco for $550 million, which is expected to close in the fourth quarter of 2020. This followed the acquisition and integration of the Clabber girl business.
Sherrill added: “All in all, we believe this is a good time to make a leadership transition and we are very fortunate that our former long-time CEO Dave Wenner, who has continued to serve on our board of directors, is now available and has agreed to help lead our company while we search for our next CEO.”
© FoodBev Media Ltd 2020
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