US: Dole Food Co CEO DeLorenzo to join Itochu

By Michelle Russell | 7 December 2012

DeLorenzo will be joining Itochu to lead its newly-acquired Asia fresh and worldwide packaged foods businesses

The CEO of Dole Food Co, David DeLorenzo, is to join Itochu following the sale of its global packaged food and Asian fresh businesses to the Japanese conglomerate in September.

The US produce giant sold the business units to conglomerate Itochu Corp. for US$1.7bn. The deal followed admissions from both companies that they had been in talks over the assets.

As a result, DeLorenzo will be joining Itochu to lead its newly-acquired Asia fresh and worldwide packaged foods businesses, and will be leaving Dole's board. As part of the same transaction, CFO Joseph Tesoriero and SVP of human resources Sue Hagen will also be leaving the company, Dole said yesterday (6 December).

David Murdock, Dole's chairman, will replace DeLorenzo as CEO. Executive VP and general counsel Michael Carter will take up the role of COO. Keith Mitchell, current CFO of Dole's North American Fresh Fruit business, will become group CFP.

"These are important leadership changes as we work toward right-sizing Dole and refocusing our businesses for growth," said Murdock. "Michael Carter is a talented leader with a results-oriented operational focus, who as Dole's executive VP and general counsel has worked with me in leading Dole through our most significant strategic events and challenges, since joining Dole in October 2000."

Sectors: Fresh produce