ADVANCEPIERRE FOODS HOLDINGS, INC. (NYSE:APFH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
to the previously disclosed transition plan of the President and
Chief Executive Officer roles of AdvancePierre Foods Holdings,
Inc. (the Company), effective March31, 2017, John N. Simons, Jr.
retired as Chief Executive Officer of the Company and Christopher
D. Sliva assumed the role of Chief Executive Officer of the
Company and is now the Companys President and Chief Executive
Officer. Also to the transition plan, Mr.Simons will not stand
for reelection as a director of the Company at the Companys 2017
annual meeting of stockholders.
Mr.Sliva, age 53, became our President and a member of our Board
on November14, 2016, and our Chief Executive Officer on March31,
2017. Prior to joining us, Mr.Sliva was President and Chief
Operating Officer of TreeHouse Foods, Inc., a consumer packaged
food and beverage manufacturer. Mr.Sliva joined TreeHouse in July
2012 as Senior Vice President and Chief Operating Officer of
TreeHouses Bay Valley Foods operating unit. Mr.Sliva also served
as Executive Vice President and Chief Operating Officer of
TreeHouse and as President of Bay Valley during his time at
TreeHouse. Prior to joining TreeHouse, Mr.Sliva held various
positions for Dean Foods Company from March 2006 to June 2012,
including as Chief Customer Officer for the White Wave Foods
division of Dean Foods and President and Chief Operating Officer
for the Morningstar division of Dean Foods. Prior to joining Dean
Foods, Mr.Sliva held various leadership roles and sales and
marketing positions with Eastman Kodak Company, Fort James
Corporation and Procter Gamble Distributing Company. Mr.Sliva
holds a Bachelor of Science degree in Business Administration
from Washington University.
On October27, 2016, the Company and AdvancePierre Foods, Inc.
entered into an Executive Employment Agreement with Mr.Sliva (the
Employment Agreement), which Employment Agreement is described in
the Companys Current Report on Form 8-K filed with the Securities
and Exchange Commission (SEC) on November10, 2016. Such
description is incorporated by reference into this Report, and is
qualified in its entirety by the full text of the Employment
Agreement, which is included as Exhibit 10.1 to the Current
Report on Form 8-K filed with the SEC on November10, 2016.
There is no arrangement or understanding between Mr.Sliva and any
other person to which he was selected as an officer of the
Company (other than the Employment Agreement) and there are no
family relationships between Mr.Sliva and any of the Companys
directors or executive officers. There are no transactions to
which Mr.Sliva is a party and in which Mr.Sliva has a direct or
indirect material interest that would be required to be disclosed
under Item404(a) of Regulation S-K.
|Item9.01||Financial Statements and Exhibits|
Executive Employment Agreement, dated October27, 2016, among
AdvancePierre Foods, Inc., AdvancePierre Foods Holdings,
Inc., and Christopher D. Sliva (incorporated by reference
from Exhibit 10.1 to the Companys Current Report on Form 8-K
filed with the SEC on November10, 2016)
About ADVANCEPIERRE FOODS HOLDINGS, INC. (NYSE:APFH)
AdvancePierre Foods Holdings, Inc. is a producer and distributor of ready-to-eat sandwiches, sandwich components and other entrees and snacks. The Company operates through four segments. The Foodservice segment’s portfolio of products includes breakfast sandwiches, peanut butter and jelly sandwiches, Philly steaks, fully cooked hamburger-patties, country-fried steak, stuffed entrees and chicken tenders. The Retail segment sells both branded and private label ready-to-eat sandwiches, such as grilled chicken sandwiches and stuffed pockets; sandwich components, such as chicken patties, and other entrees and snacks, such as stuffed chicken breasts. The Convenience segment sells customized ready-to-eat sandwiches, such as breakfast sandwiches and burgers; sandwich components, such as chicken patties, and other entrees and snacks, such as cinnamon dough bites. The Industrial segment supplies other food producers, such as packaged food companies under short-term co-manufacturing agreements. ADVANCEPIERRE FOODS HOLDINGS, INC. (NYSE:APFH) Recent Trading Information
ADVANCEPIERRE FOODS HOLDINGS, INC. (NYSE:APFH) closed its last trading session up +0.13 at 31.17 with 229,705 shares trading hands.