Gregg Engles is to step down from the board of TreeHouse Foods to concentrate on his responsibilities with US dairy giant Dean Foods.
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Chairman and CEO of TreeHouse Sam Reed, said: “Gregg has been a great board member and terrific business partner. The successful spin-off of TreeHouse from Dean Foods in 2005 was a direct result of his foresight and resolve.”
TreeHouse is a food manufacturer making products including canned soup, salad dressings and sauces under the ED Smith brand.
The company saw full-year profits inch up last year as price increases offset commodity cost inflation. Operating income rose to US$84.9m during 2007, up from $84.3m a year earlier. Net sales rose 23% to US$1.2m.
Dean Foods had what Engles described as the “most challenging” year in the company’s history in 2007 after seeing fourth-quarter profits tumble.
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By GlobalDataRising dairy commodity prices and a glut of organic milk had hit the business in 2007.
