Pinnacle Foods Inc. has reaffirmed its guidance for 2016 earnings per share in the range of $2.08 to $2.13, excluding items affecting comparability. The announcement was made in connection with a welcome reception the company and its board of directors will host with stock analysts and investors on May 24 for incoming CEO Mark A. Clouse.
Clouse assumed the position on May 23. He replaced Robert J. Gamgort, who left the company at the end of April to become chief executive officer of Keurig Green Mountain.
Headquartered in Parsippany, New Jersey, Pinnacle Foods employs approximately 5,400 people and is a producer, marketer and distributor of branded packaged food products in the United States. Among its frozen lines are Birds Eye, Gardein, Birds Eye Steamfresh, C&W, McKenzie’s, and Freshlike vegetables, Birds Eye Voila! bagged meals, Van de Kamp’s and Mrs. Paul’s prepared seafood, Hungry-Man dinners and entrees, Aunt Jemima breakfasts, Lender’s bagels, and Celeste pizza.
Clouse, 47, previously served as chief operating officer of Mondelez International, Inc., where he held a broad range of leadership jobs involving brands such as Oreo, Nabisco, Cadbury and Trident during his 20-year tenure at Kraft Foods Inc. and the subsequent spin-off of Mondelez. He was responsible for overseeing the company’s commercial execution for all of its five geographic regions, as well as the global sales function.
Before joining Kraft, Clouse served in the United States Army as a pilot and completed his service as a Captain. He is a graduate of the US Military Academy at West Point, with a degree in economics.
