St. Louis, Missouri-based branded food giant Aurora Foods yesterday [Wednesday] named Dale F. Morrison as its chairman and CEO, effective immediately.
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The announcement follows the injection of US$62.6m of new capital to Aurora in July, including US$25m from entities affiliated with Aurora’s major investors; private equity investment firms Fenway Partners and McCown De Leeuw & Co.
Morrison, a former CEO of the Campbell Soup Co, said: “With Aurora’s capital structure stabilised, the focus is now on executing the business plan, which includes growing our brands profitably, enhancing cash flow, reducing debt, and building long-term value for all of our stakeholders.”
Morrison has a long record of leading and managing consumer packaged goods businesses. From 1995 to 2000 he held a number of executive positions at the Campbell Soup, including president of its Pepperidge Farm business, president of its international and specialty foods division, and as CEO for three years.
Prior to Campbell’s, Morrison was with PepsiCo for 14 years, during which time he had a number of increasingly important general management positions in both the company’s soft drink and snack foods divisions.
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By GlobalDataJames T. Smith, Aurora’s former chairman and CEO, has resigned to pursue other interests.
Richard C. Dresdale, a member of Aurora’s noard of directors: “Jim joined Aurora during very challenging times, and has established a strong platform for future growth. His efforts have helped to reinvigorate Aurora’s brands and better position them for the future.”
