Kettle Chips owner Diamond Foods has named former A&P CFO Raymond Silcock as its new finance chief.
Silcock joins the US snack firm today (11 June), replacing Michael Murphy, the MD of financial consultants Alix Partners, who had held the role on an interim basis for 16 months. Murphy joined Diamond after the company replaced its then CEO and CFO after an internal investigation found it had incorrectly accounted for payments to walnut growers.
Diamond president and CEO Brian Driscoll said Silcock had “extensive food and beverage industry, financial operations and capital structure experience.” He added: “We look forward to leveraging his expertise, which includes a strong track record of managing and improving finance and accounting functions, as well as improving balance sheets, as we continue to focus on the company’s strategy to drive long-term, profitable growth for our shareholders.”
Silcock spent two years at US regional retailer A&P. He joined as head of finance in 2011 and became CFO in 2012 as the company emerged from Chapter 11 bankruptcy protection.
His career also includes stints a year at US meat group Swift before it was sold to Brazilian meat giant JBS and seven years as CFO at Canada-based soft drinks group Cott Corp. Silcock started his career at Campbell Soup Co.
Diamond yesterday reported its third-quarter results and restated its numbers for its second quarter. It said its figures for the second quarter – and therefore for the first six months of its financial year – did not reflect the dilutive impact of the change in the fair value of a warrant liability to Oaktree Capital Management.