KANSAS CITY — Hostess Brands, Inc. in an April 2 filing with the Securities and Exchange Commission indicated that C. Dean Metropoulos has expanded his responsibilities to include serving as interim chief executive officer and president. Mr. Metropoulos is executive chairman of Hostess.
The announcement is a formality in what has been a months-long transition at Hostess Brands. In October, William D. Toler informed the company of his intent to retire as president and c.e.o. on March 1. But in early March Mr. Toler agreed to extend his tenure while Hostess conducted its search for a c.e.o. Mr. Toler retired on March 30.
In the April 2 S.E.C. filing Hostess said the company’s search for a new c.e.o. and president “remains in process.” In late February, Mr. Metropoulos said the company wouldn’t rush to make a choice.
“We remain very focused on finalizing and selecting the final c.e.o. candidate who will lead the company in the next phase of its growth,” he said on Feb. 28. “But as all of you know, as executive vice-chairman of the company, the largest shareholder and the founder of the post-Chapter 7 Hostess, I remain and have been very, very involved with the management of the company both in the operation, the strategic growth of the business.”
“We remain very focused on finalizing and selecting the final c.e.o. candidate who will lead the company in the next phase of its growth.” — C. Dean Metropoulos, Hostess
Asked for a timetable for the transition by an analyst, Mr. Metropoulos resisted offering a date but suggested the change would happen within a few weeks.
“There’s no reason to put a gun to our head,” he said. “If it’s 20 days, 30 days, 35 days, we’re so hands on, including myself that it’s going to be seamless to everyone anyway. We feel pretty confident that role would be filled in the very near future.”