US private-label food company Ralcorp has announced that its chief executive and president Joe Micheletto is to retire, effective 29 September.

Micheletto will be succeeded by Kevin Hunt and David Skarie, who are to share both titles, the company said. Micheletto is to remain on the company's board and serve as vice chairman, reported Reuters.

Hunt will remain president of the company's biscuits unit, Bremner, and its snack nuts and chocolate confectionery business, Nutcracker.

Skarie will remain president of the company's ready-to-eat and hot cereals business, Ralston Foods, and its sauces and spreads business, Carriage House.