Dean Foods President and Chief Operating Officer Departs

February 28, 2011 08:07 PM
 

Chairman and CEO Gregg Engles to assume operating responsibilities at leading U.S. dairy company.

Dean Foods Company today announced that Joseph E. Scalzo, 52, president and chief operating officer, left the company Feb. 25.

Dean Foods is one of the leading U.S. food and beverage companies. Its Fresh Dairy Direct-Morningstar segment is the largest U.S. processor and distributor of milk, creamer, and cultured dairy products.

In an earnings statement released last month, Dean Foods said "2010 was an exceptionally difficult year" for the company, and that its "overall 2010 performance was materially below our plan."

Chairman and Chief Executive Officer Gregg Engles is assuming Scalzo's operating responsibilities, and executives previously reporting to Scalzo will now report directly to Engles. The company does not intend to name a replacement for Scalzo.

“I want to thank Joe for his many contributions to Dean Foods,” said Engles. “Joe was instrumental in building the WhiteWave platform into a single winning company, and recruited and developed exceptional talent. We wish Joe well in his future endeavors as he pursues opportunities to lead a consumer packaged goods company.”

“It has become clear to the board, me and Joe that Dean Foods will be best served by a new structure that can move decisively and quickly to execute our strategy while maintaining an extremely tight rein on costs,” Engles added. “We expect to finish out our initial $300 million cost-reduction program by achieving the final $125 million or better of savings across the supply chain in 2011.”
 

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