Canadian frozen dessert maker CoolBrands International has announced that the company's board of directors has elected David Stein, previously president and co-chief executive officer, to serve as co-chairman and CEO, effective immediately.

The appointment follows the death of co-chairman and co-CEO Richard Smith on 29 January.

The company also said that by mutual agreement its management agreement with Calip Dairies, through which Calip Dairies provided Smith's full time management services and certain other ancillary services, had been terminated, effective immediately. The separate distribution agreement with Calip Dairies, in which Calip Dairies distributes CoolBrands' products to customers in the New York Metropolitan area, remains in effect.