B&G Foods names Robert Mills as new CEO

B&G Foods has appointed Robert Mills arsenic its caller president and CEO, succeeding Casey Keller, who retired past week.

Mills, who has served connected B&G Foods' committee since March 2018, takes up the relation astatine the US nutrient radical with contiguous effect.

In a connection yesterday (10 August), the Crisco and Ortega marque proprietor said the enactment alteration comes arsenic the institution looks to presumption the concern for "sustainable semipermanent growth".

It plans to bash truthful by "reshaping its portfolio, improving margins and currency flow, reducing indebtedness and leverage", the connection added.

B&G Foods committee seat Stephen Sherrill said: "Rob is uniquely positioned to pb B&G Foods astatine this important constituent successful B&G Foods' evolution. Rob's 8 years arsenic a subordinate of our committee springiness him a heavy knowing of our business, our brands, our radical and challenges and opportunities up of us."

Last week, B&G Foods confirmed it had already selected its caller main executive, though it did not uncover the executive's sanction astatine the time.

The institution said Mills brings much than 20 years of "broad operating and enactment experience", including enactment successful firm strategy, M&A and concern integration.

Mills joins the New Jersey-based steadfast from the Tractor Supply Company, wherever helium astir precocious served arsenic enforcement vice president and main exertion serviceman for integer and favored services.

The caller CEO said: "I look guardant to partnering with B&G Foods' precise talented and dedicated workforce and the committee to physique connected B&G Foods' strengths and accelerate our strategy. My contiguous priorities volition beryllium execution, operating subject and accelerating growth.

"I americium peculiarly excited astir the accidental to bring further capabilities to B&G Foods."

Keller stepped down arsenic main enforcement and arsenic a manager past week aft 5 years successful the role.

At the time, helium said: "I americium arrogant of our accomplishments arsenic we person navigated done hard trends successful the user packaged foods industry.

"Importantly, we person begun to reshape our portfolio done our caller divestiture and acquisition activity, and I judge the dedicated and resilient squad astatine B&G Foods volition usher the institution towards a agleam future."

First-quarter results issued successful May showed a driblet successful nett income for B&G Foods arsenic the concern turned to a nett nonaccomplishment of $32.5m, compared to an $835m nett a twelvemonth earlier.

Sales gross declined 3.9% to $408.9m, portion adjusted EBITDA decreased 2.5% to $57.6m.

Diluted EPS besides fell into the reddish astatine a $0.41 nonaccomplishment versus a comparatively level nett of $0.01 successful the corresponding period.

"B&G Foods names Robert Mills arsenic caller CEO" was primitively created and published by Just Food, a GlobalData owned brand.