Lancaster Colony is installing ex-Kraft Foods Group executive Thomas Pigott as finance chief to replace Douglas Fell who is moving to a new role within the US food group.
Pigott will take over the chief financial officer duties on 1 April, and will also hold the positions of vice president and assistant secretary at the Ohio-based firm, which supplies retailers and foodservice channels with brands such as New York Brand Bakery and Sister Schubert’s.
Those same roles were previously held by Fell, who is taking on responsibility for a newly-created Transformation Program Office (TPO), which will “coordinate the company’s various capital and integration efforts”, according to a statement today (15 March) from Nasdaq-listed Lancaster Colony. He will hold the title of transformation programme officer.
For the past three years, Pigott served as vice president and CFO of Kansas-based MGP Ingredients. He previously held senior roles at various divisions of Kraft Foods Group, the company spun out of what was Kraft Foods Inc., part of which became Mondelez International, and has also worked for Nestle’s US pizza unit.
David Ciesinski, Lancaster Colony’s president and chief executive, said: “Doug has been a great contributor to our company’s success through his dedicated service as CFO and a variety of other executive management positions in finance, information technology, business development and operations. Based on his past experience and demonstrated leadership in a very diverse array of assignments, Doug is perfectly suited to lead the new TPO.”
For its latest financial results, Lancaster Colony booked first-half sales of US$666.2m through December, and net income of $86.9m, a 15% increase from a year earlier.
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Ciesinski added with respect to Pigott’s appointment: “I am also very excited to welcome Tom Pigott to Lancaster Colony as our new CFO and eagerly anticipate working with him for many years to come. I am confident that Tom’s extensive experience in the food industry and proven leadership in corporate finance will be a great fit for our organisation as we continue in our pursuit of profitable growth.”