USA: International Multifoods CEO Gary Costley Outlines Company's Plans to Capitalize On Foodservice Trends
Gary E. Costley, chairman, president and chief executive officer of International Multifoods Corp., told shareholders at the company's annual meeting today at the Boatworks Event Center that the company has the focused growth strategies to help it benefit from demographic trends, such as the rise in dual-income households and the aging of the population, which are fueling growth in eating away from home. "Americans are eating out or taking out more and more every year. In fact, within a few years, more money will be spent on food prepared away from home than home-cooked food. With our strategic focus on businesses that manufacture for and distribute to the foodservice industry, we're well positioned to grow along with that trend," said Costley. "What's more, a tight labor market is forcing foodservice providers to look to companies like us for creative ways to save labor during food preparation." Costley also spoke of the company's emphasis on operational excellence, outlining the company's five key operating priorities for fiscal 2001:
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