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July 21, 2020

Ex-Tyson Foods boss Tom Hayes named Ocean Spray CEO

Ocean Spray Cranberries has named a new CEO five months after the US snacks maker terminated the contract previous chief executive for violating an anti-harassment policy.

Ocean Spray Cranberries has unveiled a new CEO five months after the US juice and snacks maker terminated the contract of previous head Bobby Chacko for violating an anti-harassment policy.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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Tom Hayes, a former CEO of US meat giant Tyson Foods, takes over from Chacko this month, Ocean Spray said yesterday (20 July). Chacko left in February.

Ocean Spray gave no details on Chacko’s exit other than he transgressed the company’s corporate policy on harassment. At the time, Ocean Spray management said they “pledged to hold everyone accountable and ensure that every decision is made in the best interest of the cooperative”.

Hayes was CEO of Tyson Foods for under two years until he stood down in 2018. He joined Tyson as president of its foodservice business in 2014 when the company acquired US food manufacturer Hillshire Brands for US$8.55bn. Hayes’ most recent role was as a partner at a private-equity firm Entrepreneurial Equity Partners.

“Tom’s expertise in supply chain management, his understanding of agriculture and the challenges faced by growers, and his decades of experience in the consumer packaged goods industry make him ideally suited to lead Ocean Spray into its second century,” said Peter Dhillon, chairman of the board of directors at Ocean Spray.

Last year, Ocean Spray named ex-Kraft Heinz man Daniel Cunha as its CFO.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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