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Chairpersons

Dean Foods Appoints Joseph Scalzo as President and CEO of WhiteWave Foods Division

Strategic Insights

— 1 min read

Dean Foods Company announced that Joseph Scalzo has taken over as President and Chief Executive Officer of its WhiteWave Foods division, bringing over 20 years of experience from major consumer product and beverage companies. Scalzo reports directly to Gregg Engles, Chairman and Chief Executive Officer of Dean Foods. The company has awarded Scalzo an option to purchase 245,000 shares of common stock, which will vest over a period of three years. The appointment is expected to help WhiteWave capture the full potential of its brands.

Key Takeaways:

  • Joseph Scalzo, with over 20 years of experience, has been appointed as President and Chief Executive Officer of WhiteWave Foods, a division of Dean Foods Company.
  • Scalzo reports directly to Gregg Engles, Chairman and Chief Executive Officer of Dean Foods.
  • The company has awarded Scalzo an option to purchase 245,000 shares of common stock at an exercise price of $37.98 per share.
  • The options will vest in three equal installments over a period of three years, beginning on the first anniversary of the date of grant.
  • Scalzo's previous experience includes serving as Group President, Personal Care and Global Value Chain at The Gillette Company, and Senior Vice President and Chief Marketing Officer at The Minute Maid Company.
  • Scalzo's appointment is expected to help WhiteWave capture the full potential of its brands.

Statistics:

  • Joseph Scalzo will receive an option to purchase 245,000 shares of Dean Foods Company's common stock.
  • The exercise price of the stock option is $37.98 per share, which was the closing price of the stock yesterday.
  • The options will vest in three equal installments over a period of three years, beginning on the first anniversary of the date of grant.
  • Scalzo's tenure at Gillette lasted three years, during which they led the successful turnaround of the company's one billion dollar global personal care division.

Sources:

  • PRNewswire-FirstCall
  • Dean Foods Company website

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