Post Holdings promotes COO to US group’s CEO

Post Holdings has promoted its COO to main executive, with CEO Robert Vitale moving to a caller relation of enforcement chairman.

From 1 October, the US nutrient major's COO Nicolas Catoggio volition measurement up arsenic president and CEO.

In a connection issued yesterday (7 May), Post said arsenic enforcement president Vitale volition supply “strategic guidance” connected superior allocation and counsel Nicolas successful his caller relation arsenic CEO.

Vitale said: “Nico is an exceptional leader. Over the past respective years, helium has driven beardown show astatine Post Consumer Brands, led integration of acquisitions, and earned the spot of our teams crossed the organisation.”

Catoggio was appointed COO successful January. Before that, helium had been president and CEO of the Weetabix owner's Post Consumer Brands part since September 2021.

Prior to joining Post, Catoggio was managing manager and elder spouse successful Boston Consulting Group’s user goods practice.

Post besides reported its results for the 2nd 4th ended 31 March. For the quarter, nett income accrued to $2.04bn from $1.95bn a twelvemonth earlier.

Net income roseate to $81.9m, compared with $62.6m successful the prior-year period. Adjusted EBITDA reached $395m, up 14% from $346.5m.

In the user brands division, second-quarter nett income totalled $1.04bn, an summation of 5.8% connected the prior-year period.

That fig included $145m attributable to 8th Avenue Food & Provisions, which Post acquired successful July. Excluding the publication from 8th Avenue successful the current-year period, volumes declined 10% amid a 14% autumn successful pet-food volumes and a 3% diminution from cereal and granola combined.

The division’s nett decreased 3.9% year-on-year to $134.1m. Adjusted EBITDA edged down 1.8% to $200.2m.

Post’s refrigerated retail limb posted nett income of $235.3m for the 2nd quarter, up 4.8% twelvemonth connected year. Segment nett accrued 36.4% to $22.1m. Adjusted EBITDA roseate 17.6% to $40.8m.

Meanwhile, the Weetabix concern portion reported second-quarter nett income of $136.1m, an summation of 3.3% from the prior-year period. Its nett roseate 14.3% to $20.8m portion adjusted EBITDA accrued 6.6% to $32.3m.

Post’s absorption besides maintained its guidance scope for fiscal 2026. The institution said it expects adjusted EBITDA to beryllium betwixt $1.55bn and $1.58bn.

"Post Holdings promotes COO to US group’s CEO" was primitively created and published by Just Food, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.