Snyder's-Lance continues c.e.o. search

by Eric Schroeder
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PARIS — Nearly two months after Carl E. Lee Jr. stepped down as chief executive officer of Snyder’s-Lance, Inc., the Charlotte, N.C.-based snacks maker continues to search for a new leader. Brian J. Driscoll, a current member of the company’s board of directors, has been serving as interim c.e.o.

In a June 13 presentation at the Deutsche Bank Global Consumer Conference in Paris, Alexander W. Pease, chief financial officer and executive vice-president of Snyder’s-Lance, provided his view on the search.

Alexander Pease, Snyder's-Lance
Alexander Pease, c.f.o. and executive vice-president of Snyder’s-Lance

“Clearly, Brian is a leading contender in the search,” Mr. Pease said, stressing that he personally isn’t involved in the search. “He’s highly credible. He’s been very well received by the company, and he’s been very well received by investors. He is, in every way, acting as though he’s going to be the full-time c.e.o.”

While Mr. Pease said it may be his expectation and Mr. Driscoll’s expectation that the latter will become c.e.o., the company’s board has an obligation to conduct an extensive search.

“My view is, regardless of that outcome, the performance improvement agenda that we’ve articulated and the levers that we’ve articulated as the levers we need to go after will be what we need to do as a company,” he said. “So I don’t anticipate a significant reset regardless of who’s sitting in that role. In terms of specific timing, it’s hard for me to say, not knowing what the internal conversations are at the board level. But I know that it’s an issue on everybody’s mind. We’d like to get the interim title sort of wiped clean as quickly as we can, and get on with business.”

Brian Driscoll, Diamond Foods
Brian Driscoll, interim c.e.o. of Snyder's-Lance

Mr. Driscoll is the former president and c.e.o. of Diamond Foods, which Snyder’s-Lance acquired in early 2016. Prior to joining Diamond Foods, he was the c.e.o. of Hostess Brands, Inc. from July 2010 to March 2012.

 

 

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