Conagra Brands Appoints John Brase as President and Chief Executive Officer
Get Alerts CAG Hot Sheet
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 9.8%
EPS Growth %: -17.9%
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Brase brings more than 35 years of consumer goods experience, with deep expertise in strategic portfolio management, brand building and driving operational excellence to deliver profitable growth. Most recently, he served as President and Chief Operating Officer of The J.M. Smucker Co., where he oversaw the company's
"John's track record of driving top- and bottom-line performance, building brands across multiple consumer-packaged goods categories, leveraging advantaged business systems and leading inclusive, results-driven cultures is exceptional, and we are confident Conagra will thrive under his leadership," said
Lenny continued, "From the moment Sean became Conagra's CEO eleven years ago, he has worked tirelessly to create and lead a pure-play food company. His ability to unlock value in Conagra's brands, streamline the Company's structure and motivate his team has been exceptional. He has successfully led Conagra through extraordinary times in our industry—from the global pandemic, to unprecedented inflation and supply chain disruptions—by instilling a 'refuse to lose' mindset across the Company. As a Director, Sean played a key role in the addition of eight independent Directors to the Board. We thank Sean for all that he accomplished for Conagra's investors, customers and employees and wish him continued future success. We are confident in the road ahead for Conagra, and I look forward to working with both Sean and John in the coming weeks to ensure a smooth transition."
"It's an honor to join Conagra and lead this portfolio of iconic brands," said Brase. "I've long admired what Sean and the team have built, and I look forward to accelerating the Company's track record of driving strong revenue growth, strengthening margins and generating robust cash flow to unlock the full potential of its brands and deliver meaningful value for consumers and shareholders. I am excited to work closely with Rick, the Board, and the entire Conagra team as we build on this strong foundation and advance the Company's top- and bottom-line performance for all our stakeholders."
"I'm proud of what we've accomplished throughout my tenure at Conagra," said Connolly. "Our efforts to invest in brand building and innovation, grow scale in frozen and snacks, sharpen execution and divest non-core assets have created a pure-play, branded platform with proven strength in key domains. As I prepare to step aside, I look forward to working with John to ensure a smooth transition. I'm confident that the Conagra team, under John's leadership, will build on the foundation we've established and will continue to deliver value for consumers, customers and shareholders for years to come."
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), is one of
Headquartered in
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SOURCE Conagra Brands, Inc.
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