Post Holdings has appointed a new CEO, with incumbent chairman and chief executive Robert Vitale set to move into a new executive chairman role.
As part of a leadership transition, effective 1 October, the US food major’s COO Nicolas Catoggio will step up as president and CEO,
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In a statement issued yesterday (7 May), Post said as executive chairman, Vitale will provide “strategic guidance” on capital allocation and advise Nicolas in his new role as CEO.
Vitale said: “Nico is an exceptional leader. Over the past several years, he has driven strong performance at Post Consumer Brands, led integration of acquisitions, and earned the trust of our teams across the organisation.”
Nicolas was appointed COO in January.
Before that, he had served as president and CEO of Post Consumer Brands since September 2021.
Prior to joining Post, Nicolas was managing director and senior partner in Boston Consulting Group’s Consumer Goods practice.
During his tenure, Vitale oversaw Post’s expansion into “multiple” new categories and international markets, while leading more than 50 “unique” capital markets and M&A transactions, the statement added.
Alongside the leadership announcement, Post Holdings also reported yesterday its results for the second quarter ended 31 March.
For the quarter, net sales increased to $2.04bn from $1.95bn a year earlier.
Net income rose to $81.9m, compared with $62.6m in the prior-year period. Adjusted EBITDA reached $395m, up 14% from $346.5m.
In the consumer brands division, second-quarter net sales totalled $1.04bn, an increase of 5.8% on the prior-year period.
That figure included $145m attributable to 8th Avenue Food & Provisions, which Post acquired in July. Excluding the contribution from 8th Avenue in the current-year period, volumes declined 10%.
The division’s profit decreased 3.9% year-on-year to $134.1m. Adjusted EBITDA edged down 1.8% to $200.2m.
Post’s refrigerated retail arm posted net sales of $235.3m for the second quarter, up 4.8% year on year. Segment profit increased 36.4% to $22.1m. Adjusted EBITDA rose 17.6% to $40.8m.
Meanwhile, the Weetabix business reported second-quarter net sales of $136.1m, an increase of 3.3% from the prior-year period. Its profit rose 14.3% to $20.8m while adjusted EBITDA increased 6.6% to $32.3m.
Post’s management also maintained its guidance range for fiscal 2026. The company said it expects adjusted EBITDA to be between $1.55bn and $1.58bn.
