Food Companies Churn Through CEOs, Desperate for Fresh Ideas

Anchin in the NewsMay 29, 2018Published by The Wall Street Journal
Anchin Partner Quoted: Gregory A. Wank, CPA, CGMA

Food Companies Churn Through CEOs, Desperate for Fresh Ideas

Greg Wank, Leader of Anchin's Food and Beverage Industry Practice, on food industry CEOs:

America’s food giants are shedding a generation of CEOs at a remarkable rate, the culmination of years of bleak sales in an industry that until recently, had gone unshaken for half a century.

Over the past two years, at least 16 major packaged-food and beverage chief executives have stepped down, according to a Wall Street Journal analysis. The departure of Campbell Soup CPB +0.39% Co. chief Denise Morrison earlier this month followed CEO changes at General Mills Inc., GIS +0.36% Mondelez International Inc., MDLZ +0.65% Kellogg Co. K +0.88% , Nestle USA , NSRGY -0.30% Hershey Co. HSY +0.12% , J.M. Smucker Co. and Twinkie-maker Hostess.

“I don’t think we’ve ever seen something like this,” said Greg Wank, partner at Anchin, an advisory firm that works with food companies.

Read the complete article in The Wall Street Journal.

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