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March 23, 2016

Pinnacle Foods CEO Bob Gamgort to join Keurig Green Mountain

Pinnacle Foods CEO Bob Gamgort plans to leave the Udi's and Gardein owner at the end of April to take over as chief executive at Keurig Green Mountain. 

Pinnacle Foods CEO Bob Gamgort plans to leave the Udi’s and Gardein owner at the end of April to take over as chief executive at Keurig Green Mountain.

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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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Gamgort has served as chief executive at the Birds Eye frozen food maker since 2009. He will continue to lead the US group and sit on the group’s board until the time of his departure. 

The Pinnacle board of directors is evaluating both internal and external candidates to succeed Gamgort. The process is expected to conclude in time for a “seamless transition”, the company said. 

Chairman Roger Deromedi described Gamgort as an “outstanding CEO” responsible for leading Pinnacle from private to public ownership. In recent years, Gamgort has spearheaded a drive to adjust Pinnacle’s branded portfolio and shift it towards higher growth areas of the North American food sector. These efforts include the recent acquisition of Udi’s owner Boulder Brands, as well as earlier deals like the move to acquire meat-free business Gardein Protein International and former Unilever salad dressing business Wish-Bone

While Deromedi recognised Gamgort’s achievements at Pinnacle, he was quick to stress the company remains well-positioned to deliver a strong performance in the coming year. “The clarity of Pinnacle’s strategy, combined with the strength of both its leadership team and board of directors, gives me confidence in our ability to deliver attractive shareholder returns, including our expectation for another strong year in 2016.  While we are disappointed that Bob will be leaving Pinnacle, we thank him for his years of leadership that have positioned the company for continued success and wish him well in his new role.”

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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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