BUFFALO, N.Y. — Richard Ferranti has been promoted to president of Rich Products Corp. as part of a series of executive promotions that are expected to add greater strategic depth to the company’s leadership team. He succeeds William G. Gisel, who will remain chief executive officer.
Mr. Ferranti becomes just the fourth president in the company’s history, joining Mr. Gisel, founder Bob Rich Sr. and chairman Bob Rich Jr.
“Richard brings a wide array of exceptional qualities to his new role, not the least of which is his passion to fulfill our mandate for Rich’s to achieve long-term success as a family business,” Mr. Gisel said. “We continue making changes today that will better position Rich’s for tomorrow. We could not be on a better path with Richard working closely with our executive team to chart our course for success as the next president of Rich Products.”
As president, Mr. Ferranti is expected to take on more direct leadership responsibility for the strategic priorities of the business, enabling Mr. Gisel to focus increased attention on Rich’s long-term direction and organizational excellence priorities. Additionally, Mr. Ferranti will continue in his role as chief operating officer, where he will oversee the performance of the company’s various food-related businesses in more than 100 countries.
“We continue making changes today that will better position Rich’s for tomorrow." — William Gisel, Rich Products Corp.
Mr. Ferranti joined Rich’s in 1986 and has held various positions throughout the organization. Prior to becoming c.o.o., he spent five years as president of Rich’s North America Business Group. Earlier, he spent 10 years as president of Rich’s International Business Group, where he was responsible for international initiatives, including exports, foreign subsidiaries and joint ventures.
“I am grateful to the Rich family and Bill Gisel for the opportunities they have given me throughout my career to develop the necessary breadth and depth of experience required for this important leadership role,” Mr. Ferranti said. “As we look ahead to 2019 and beyond, we have enormous opportunities to grow our business by delivering even greater value to our customers across the globe. We know that if we continue to strengthen and accelerate our capabilities, we will be successful.”
Mr. Ferranti received a bachelor’s degree in political science from Canisius College in Buffalo and a master’s degree in business administration from the State University of New York at Buffalo. He also is a graduate of the Harvard Business School Advanced Management Program.
In addition to Mr. Ferranti’s promotion, Rich’s detailed several other executive appointments.
Jeff Kim has been promoted to president of global markets, a newly created role with responsibility for leveraging Rich’s global reach and local activation. A 26-year associate, Mr. Kim began his career at Rich’s with the International Group. He relocated to South Korea in 1995, where he became country manager. He later held leadership roles in China, Hong Kong, Taiwan, India, Vietnam, Malaysia, Thailand and Australia, and in 2004 was named managing director for the Asia-Pacific region. He most recently led business operations as president of Rich’s Asia-Pacific region since 2008.
Mr. Kim received a bachelor’s degree in political science and economics from the University of Buffalo and a master’s degree in business administration from the University of Southern California’s Marshall School of Business.
Ray Burke, president of Rich’s U.S. and Canada region, has been named to the company’s executive team. Mr. Burke joined Rich’s in 1981 as part of the company’s management training program and subsequently advanced within the organization. In 1997 he was named president of the In-Store Bakery Division and added the leadership of Rich’s Foodservice Division in 2008. He was named president of the U.S. and Canada region in 20013.
Mr. Burke is a past president of the International Dairy, Deli, Bakery Association and is a member of the American Bakers Association. He received a bachelor’s degree in political science and economics from the State University of New York at Buffalo.
“Rich’s is just two years away from celebrating its 75th anniversary, a milestone that places us among the most successful and enduring global family businesses anywhere,” Mr. Gisel said. “Our future is bright, and we’re confident that the leaders we have in place will help us achieve extraordinary results for our customers, our associates and our company now and well into the future.”