US: ConAgra appoints McGough head of consumer foods
ConAgra confirms outlook as head of consumer food exits
ConAgra Foods has appointed Tom McGough to head up its consumer foods business following the resignation of current consumer foods president André Hawaux.
Hawaux, who has worked at ConAgra since 2009, is leaving the group to take up the post of EVP and chief financial officer of Dicks Sporting Goods.
McGough joined ConAgra in 2007 and was named president, grocery products, in 2012. Previously he has worked at various other FMCG companies, including Heinz.
"We are very pleased to have Tom in position to take over as leader of our Consumer Foods business," said Gary Rodkin, ConAgra CEO.
The company emphasised that the news is not expected to impact its financial performance in the current year and insisted that it is "on-track" to hit EPS guidance of $2.15.
ConAgra Foods, Inc., (CAG) one of North America's leading packaged food companies, has named Tom McGough president of its Consumer Foods group. McGough's appointment was made following the resignation of André Hawaux, who has been president of Consumer Foods since 2009. Hawaux announced he will be leaving ConAgra Foods to join another public company in a different industry as chief financial officer.
"We are very pleased to have Tom in position to take over as leader of our Consumer Foods business," said Gary Rodkin, CEO, ConAgra Foods. "We have a strong bench, including Tom, who is a 20-year veteran of the branded food business. He has shown strong leadership and results throughout his career, including his six years with us." Rodkin continued, "Under André's leadership, we have built a solid foundation in Consumer Foods, establishing a talent base, deeper pricing rigor, strategic acquisitions, and ongoing cost savings that have provided fuel for brand building. This segment is in a strong position to deliver on the near-term sequential volume improvement goals we have previously communicated, as well as good segment operating profit performance. Tom will continue to enhance and accelerate our strategies, and we are very enthusiastic and confident in his leadership." McGough, 48, began his packaged foods career at H.J. Heinz in 1990. He joined ConAgra Foods in 2007 and was named president, Grocery Products, ConAgra Foods in 2012. Grocery Products is Consumer Foods' largest area of business, including many leading shelf-stable and refrigerated brands. McGough also has significant experience with the frozen category, from his work at H.J. Heinz as well as ConAgra Foods. He holds an M.B.A. from the Duke University's Fuqua School of Business and a bachelor's degree from the Georgia Institute of Technology. Rodkin remarked, "Today's leadership announcement does not impact previously communicated fiscal 2013 EPS and organic volume goals or our ongoing integration of the Ralcorp business. We are on track with diluted EPS of approximately $2.15 for fiscal 2013, adjusted for items impacting comparability." The company will announce FY13 results, FY14 guidance, and a view of long-term goals in June.
Original source: ConAgra Foods
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