WESTERVILLE, Ohio, May 25, 2017 /PRNewswire/ -- The Board of
Directors of Lancaster Colony Corporation (Nasdaq: LANC) (the
"Company") has appointed David A.
Ciesinski as CEO and principal executive officer effective
July 1, 2017. Mr. Ciesinski
will also join the Company's Board of Directors effective that same
date. John B. ("Jay") Gerlach, Jr., the Company's current
CEO, will continue his employment and retain his role as Lancaster
Colony's Executive Chairman.
Mr. Ciesinski has served as Lancaster Colony's President and
Chief Operating Officer since joining the Company in April
2016. He is a veteran of the packaged foods industry with a
background that includes executive leadership positions at H.J.
Heinz Company and Kraft Foods Group, Inc. Mr. Ciesinski is a
graduate of the United States Military
Academy, West Point, and has
also earned a Master's Degree from the Tepper School of Business at
Carnegie Mellon University.
"I am honored by this appointment to succeed Jay Gerlach as CEO and appreciate the legacy of
strong leadership he has provided the Company over the past 41
years, including 20 years as CEO. During his tenure, Jay has
successfully transformed Lancaster Colony from a diversified
manufacturer to a growing food business," said Mr. Ciesinski.
"I'm incredibly excited about this new opportunity to extend
my work with the great team of very talented people here at
Lancaster Colony. We look forward to continuing our
commitment to be The Better Food Company through the
acceleration of our base business, simplification of our supply
chain and added growth from good-fitting acquisitions."
Mr. Gerlach commented, "Dave's efforts over the past year as our
President and Chief Operating Officer have touched all aspects of
our business, most notably strengthening our management team,
executing the Angelic Bakehouse acquisition and developing our
long-term growth strategy. We are confident Dave is the right
person to lead our business into the future."
Forward-Looking Statements
We desire to take advantage of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995 (the
"PSLRA"). This news release contains various "forward-looking
statements" within the meaning of the PSLRA and other applicable
securities laws. Such statements can be identified by the use of
the forward-looking words "anticipate," "estimate," "project,"
"believe," "intend," "plan," "expect," "hope" or similar words.
These statements discuss future expectations; contain projections
regarding future developments, operations or financial conditions;
or state other forward-looking information. Such statements are
based upon assumptions and assessments made by us in light of our
experience and perception of historical trends, current conditions,
expected future developments; and other factors we believe to be
appropriate. These forward-looking statements involve
various important risks, uncertainties and other factors, many
of which are beyond our control, which could cause our actual
results to differ materially from those expressed in the
forward-looking statements. Some of the key factors that could
cause actual results to differ materially from those expressed in
the forward-looking statements include:
- the ability to successfully implement our strategic
initiatives;
- the extent to which future business acquisitions are
completed and acceptably integrated;
- dependence on key personnel;
- fluctuations in the cost and availability of raw materials
and packaging;
- the reaction of customers or consumers to the effect of
price increases we may implement;
- the potential for loss of larger programs or key customer
relationships;
- price and product competition;
- the possible occurrence of product recalls or other
defective or mislabeled product costs;
- capacity constraints that may affect our ability to meet
demand or may increase our costs;
- stability of labor relations;
- the outcome of any litigation or arbitration;
- risks related to other factors described under "Risk
Factors" in other reports and statements filed by us with the
Securities and Exchange Commission, including without limitation
our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q
(available at www.sec.gov)
Forward-looking statements speak only as of the date they are
made, and we undertake no obligation to update such forward-looking
statements, except as required by law. Management believes these
forward-looking statements to be reasonable; however, you should
not place undue reliance on such statements that are based on
current expectations.
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SOURCE Lancaster Colony Corporation