US: Diamond targets "significant opportunities" to trim costs
Diamond looks to improve operating performance
US snacks group Diamond Foods has indicated it can see "significant opportunities" to lower its cost base by reducing its overhead structure and tightening its supply chain.
"Diamond has undertaken a comprehensive review of overhead structure and supply chain and have identified and are pursuing significant opportunities for cost reduction and operating efficiencies," a spokesperson for the group told just-food.
In this context, Diamond announced yesterday (4 December) it has appointed David Colo to the newly-created position of executive vice president, global operations and supply chain.
Colo has held various positions of increasing responsibility in the supply chain, ranging from plant manager to operations planning. He has held posts at ConAgra Foods and, most recently, Nestle-Purina, the pet care division of Nestle.
"Mr. Colo's extensive food industry experience and deep understanding of manufacturing and supply chain efficiencies s will be invaluable to Diamond Foods as the company seeks to identify cost savings opportunities in procurement, operations and logistics and implement plans to drive organisational effectiveness throughout all of our operations," the spokesperson revealed.
Diamond was shaken by an accounting scandal last year that resulted in the departure of its then-CEO and CFO as well as scuppering its plans to acquire snack brand Pringles from Procter & Gamble. Last month, the company trimmed its full-year profit outlook as it reported a third-quarter loss, but the group insisted it expects to drive long-term improvements in its operating performance.
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