- Push-out Score determined
- After about two and a half years in the position
- Praise, thanks and good wishes for Scozzafava
- Eric Beringause taking over
(exechange) — Dallas, Texas, July 26, 2019 — Ralph Scozzafava, chief executive of Dean Foods, leaves. As announced by Dean Foods Co. in a news release on Friday, July 26, 2019, Ralph Scozzafava leaves his post as Chief Executive Officer at the food and beverage company after about two and a half years in the role, effective July 29, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.5 years, according to data compiled by exechange. Only 22 percent of the CEOs who departed over the past 12 months left their position within three years.
Ralph Scozzafava’s duties as CEO will be taken over by Eric Beringause, most recently Chief Executive Officer of Gehl Foods, LLC.
The fact that Ralph Scozzafava’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Transformational leadership and operational experience”
A reason for Ralph Scozzafava’s departure from the CEO post was not explicitly provided. Dean Foods said: “Beringause brings to Dean Foods more than 30 years of transformational leadership and operational experience at a broad range of blue-chip brands in the food, beverage and consumer products industries, including expertise in food processing and branded and contract manufacturing.”
Precise information regarding Ralph Scozzafava’s future plans was not immediately available.
Dean Foods said: “Beringause succeeds Ralph Scozzafava, who has stepped down as CEO and resigned from his position on the Board.”
Share price decline
The announcement follows a decline in Dean Foods Company’s share price of 95% since January 2017.
Chaired by Jim Turner
Dean Foods Company is chaired by Jim Turner.
Turner has served as the Non-Executive Chairman of the Board since August 2015. He serves as Principal of JLT Beverages L.P., a position he has held since 1996, and, since January 2015, has served as the Owner/CEO of JLT Automotive Inc., a group of new automobile dealerships.
In the position of CEO since 2017
Ralph Scozzafava became CEO of the Company in January 2017.
Scozzafava has served as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors since January 1, 2017.
He joined Dean Foods in October 2014, initially serving as Executive Vice President and Chief Commercial Officer from October 2014 to October 2015 and then as Executive Vice President, Chief Operating Officer from October 2015 until becoming the Company’s Chief Executive Officer.
From May 2008 to November 2013, Scozzafava served as the Chairman of the Board of Directors and Chief Executive Officer of Furniture Brands International, Inc. and as its Vice Chairman and Chief Executive Officer-designate from June 2007 to May 2008.
Furniture Brands filed a petition under Chapter 11 in the United States Bankruptcy Court for the District of Delaware in September 2013, culminating with the sale of the assets of the company in November 2013.
Prior to that, he was employed at Wm. Wrigley Jr. Company, where he held several positions, including serving as Vice President – Worldwide Commercial Operations from March 2006 to June 2007, and as Vice President & Managing Director – North America/Pacific from January 2004 to March 2006.
Prior to joining Wrigley, Scozzafava served in sales, marketing and merchandising positions at Campbell Soup Company, Clorox Company, and Johnson & Johnson.
From February 2012 until June 2017, Scozzafava served on the Board of Directors of Stage Stores, Inc., where was a member of the Compensation Committee and chaired the Audit Committee.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
Read the full story in the exechange report 30.2019 ($).