OMAHA, Neb.--(BUSINESS WIRE)--Aug. 11, 2014--
ConAgra Foods, Inc. (NYSE:CAG), announced today that Gary M. Rodkin,
chief executive officer, has informed the ConAgra Foods Board of
Directors of his intention to retire at the end of the company’s fiscal
year, May 2015.
The Board of Directors has established a search committee, led by
independent director Richard Lenny, to identify Rodkin’s successor.
Lenny is the former chairman and chief executive officer of The Hershey
Co. and has served on the ConAgra Foods board since 2009.
Steven Goldstone, chairman of ConAgra Foods, said, “ConAgra Foods is
making good progress on its priorities, and we are confident in the
company’s ability to deliver on its fiscal year EPS commitments. The
Board is extremely appreciative of Gary’s leadership, vision and
accomplishments over his almost nine years as CEO of ConAgra Foods.
Under his stewardship, ConAgra Foods has transformed from a holding
company into one unified company, with a well-balanced portfolio of
Consumer, Commercial and Private Brand businesses, and strong operating
capabilities. To achieve this transformation, Gary made necessary and
bold moves with the company’s portfolio and drove significant cultural
change throughout the business. We thank him for his hard work and
commitment to ConAgra Foods and its 34,000 employees. We also appreciate
the early notification Gary provided, so that we can begin the search
and put the right successor in place over the course of this fiscal
year. We look forward to Gary’s participation in the succession process.”
Rodkin said, “It is a great privilege to lead ConAgra Foods, and while I
look forward to retirement, I will miss working alongside so many smart
and talented people who I’ve watched grow tremendously in my nine years
here. I’m pleased we are beginning my last fiscal year at ConAgra Foods
by making good progress, and I have deep conviction that we are on the
right path to deliver sustainable, profitable growth due to our
significantly improved operational capabilities and our differentiated
portfolio that is right for today’s value-oriented consumers. I will
continue to lead our team with focus and enthusiasm until my successor
is on board, and I look forward to helping with the transition process.”
Rodkin, 62, joined ConAgra Foods in October 2005. Prior to joining
ConAgra Foods, he was chairman and chief executive officer of PepsiCo®
Beverages and Foods North America, where he led a $10 billion
organization that included leading brands such as Pepsi®,
Gatorade®, Quaker Foods® and Tropicana®.
He joined PepsiCo in 1998 after it acquired Tropicana, where he had
served as president since 1995. From 1979 to 1995, he held marketing and
general management positions of increasing responsibility at General
Mills®, with his last three years at the company as president
of the Yoplait® yogurt division.
Rodkin graduated Phi Beta Kappa with a bachelor's degree in economics
from Rutgers College and an M.B.A. from Harvard Business School, where
he was recently named a Fellow of Executive Education. He serves on the
board of overseers for Rutgers College, the board of directors for
Grocery Manufacturers Association where he is also past chairman, the
board of directors for Food Marketing Institute, and the board of
directors of Avon® Products. Gary also is Chairman of Boys
Town®, a member of the Strategic Air Command Consultation
Committee, and a member of the Omaha Chamber of Commerce.
About ConAgra Foods
ConAgra Foods, Inc. (NYSE: CAG) is one of North America’s largest
packaged food companies with branded and private branded food found in
99 percent of America’s households, as well as a strong commercial foods
business serving restaurants and foodservice operations globally.
Consumers can find recognized brands such as Banquet®, Chef Boyardee®,
Egg Beaters®, Healthy Choice®, Hebrew National®, Hunt’s®, Marie
Callender’s®, Orville Redenbacher’s®, PAM®, Peter Pan®, Reddi-wip®, Slim
Jim®, Snack Pack® and many other ConAgra Foods brands, along with food
sold by ConAgra Foods under private brand labels, in grocery,
convenience, mass merchandise, club and drug stores. Additionally,
ConAgra Foods supplies frozen potato and sweet potato products as well
as other vegetable, seasoning blends, flavors, and bakery products to
commercial and foodservice customers. ConAgra Foods operates
ReadySetEat.com, an interactive recipe website that provides consumers
with easy dinner recipes and more. For more information, please visit us
at www.conagrafoods.com.
Source: ConAgra Foods, Inc.
MEDIA
ConAgra Foods, Inc.
Teresa Paulsen, 402-240-5210
Vice
President,
Communication External Relations
Teresa.paulsen@conagrafoods.com
or
ANALYSTS
ConAgra
Foods, Inc.
Chris Klinefeltertel, 402-240-4154
Vice President,
Investor Relations
chris.klinefelter@conagrafoods.com
www.conagrafoods.com
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