US: Ex-Hostess Brands chief Driscoll named Diamond Foods CEO

By Dean Best | 8 May 2012

Brian Driscoll, the former CEO of US baker Hostess Brands, which is in bankruptcy protection, has joined Diamond Foods as its chief executive.

Driscoll took the role of Diamond CEO today (8 May) and joins a company rebuilding after an accounting scandal that led to the exit of its former chief executive and the end of a plan to buy global snacks brand Pringles.

Diamond chairman Robert Zollars said Driscoll, who has worked for Procter & Gamble, Nestle and Kraft Foods in a 30-year career, was the "perfect choice" for the US snacks firm.

Driscoll's last position was at Hostess Brands, which filed for Chapter 11 bankruptcy protection in January, with over US$1bn in debts. It was the second time in the company's history that it applied for Chapter 11 protection. Driscoll resigned from the Twinkies maker in March after two years at the business.

Rick Wolford, who took on the role of Diamond CEO on an interim basis following the accounting scandal and the departure of former chief executive Michael Mendes, said he was "excited about the many opportunities that lie ahead for the company under Brian's leadership".

He added: "I believe Diamond's future is very bright and will benefit significantly from Brian's experience as the leadership team resumes its industry leadership with the walnut business, executes on its branded snack strategies, and further builds a high performance and productive company culture."

Driscoll said he was "very optimistic" about Diamond's future. "I ... look forward to working closely with our employees, the grower community and our customers to take Diamond's businesses to another level. Together, we plan to build on the momentum of Diamond's impressive brands to grow sales, increase market share and drive shareholder value."

Sectors: Snacks

Companies: Hostess Brands, Diamond Foods, Pringles, Nestle, Kraft Foods

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