Board comprising food industry veterans sets its sights on renewed growth
IRWINDALE, Calif., March 12 /PRNewswire/ -- Nellson Nutraceutical, LLC ("Nellson"), a manufacturer of nutritional products including diet bars and powdered mixes, today announced the appointment of three new directors with significant experience in the food and consumer products sectors: Allan Lutz, Scott Meader and Hugh Rovit. Mr. Lutz also was named interim Chief Executive Officer of the company.
Mr. Lutz has more than 25 years of food-industry management experience. Prior to joining Nellson, he was President and Chief Operating Officer for the foodservice division of ConAgra Foods, where he had responsibility for the unit's $3.6 billion portfolio of branded and customized food products.
"Allan's appointment as a director further strengthens the Board's experience in the food industry, and his operational experience and proven leadership ability make him an excellent choice to lead the company now," said Scott Meader, Chairman of the Board of Directors for Nellson. "The demand for nutritional products continues to grow, and Allan's insight and knowledge will be extremely valuable as we strengthen and expand Nellson's market position."
"I am very pleased to be joining Nellson Nutraceuticals," said Mr. Lutz. "The company has many competitive strengths, and I am looking forward to working with the executive team and my fellow board members to grow the business."
Mr. Lutz previously had led the foodservice business for ConAgra. Prior to joining ConAgra, Mr. Lutz was president of the foodservice unit of Nestle USA. In this role, he had responsibility for the entire foodservices business including the Nestle, Carnation and Stouffers brands. Mr. Lutz began his career with The Carnation Company in Boston. He is a graduate of Stonehill College in North Easton, Massachusetts.
Mr. Meader served as president and CEO of Milnot Holding Corporation, a $220 million food company, until its successful sale last year and has more than 20 years of experience in the food industry. Mr. Rovit served as Chairman of the Board of Atkins Nutritionals, Inc. after its emergence from bankruptcy in January 2006. He currently is the CEO of Sure Fit Inc. a marketer and distributor of furniture covers and other home furnishings sold through retailers, internet companies and its own website and catalogue operations.
"Nellson is setting the stage for renewed growth," Mr. Meader continued. "The company has an excellent reputation for quality, customer service and experience in its markets. And with the completion of its financial restructuring last year, it has a solid financial position and a strong group of shareholders, led by Goldman Sachs, Barclays, Citigroup and GE Capital, who are committed to its success."
Mr. Lutz replaces Jeffrey B. Dias, who had served as chief executive officer of Nellson since January 2005. The Board has retained Spencer Stuart, a nationally recognized executive-recruiting firm to lead the search for a permanent chief executive.
"On behalf of the Board of Directors and our entire organization, I'd like to thank Jeff for his tireless efforts and commitment to the company," Mr. Meader added. "We wish him every success in his future endeavors."
About Nellson Nutraceutical, LLC
Nellson Nutraceutical, headquartered in Irwindale, California, is a
leading formulator and manufacturer of functional bars and powders designed
to deliver customized nutrition to serve specific purposes such as
diet/weight loss, energy/sports, bodybuilding, and wellness/medical.
Nellson is a partner to many of the foremost marketers of these products.
For information contact:
Gavin Anderson & Company
Richard A. Mahony
|SOURCE Nellson Nutraceutical, LLC|
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