GARDENA, CALIF. — Michael J. Price has been promoted to president and chief executive officer of Nissin Foods USA. He will succeed Al Multari, who is set to retire on Oct. 1. Mr. Price and Mr. Multari will work together over the next two months to ensure a smooth transition, the company said.

Mr. Price joined Nissin Foods in 2015 as vice-president of sales. Prior to Nissin, he was director of business development at Steak ‘n Shake. Earlier in his career Mr. Price held sales positions with Spilo Worldwide, Mars, Inc., and Morton Salt.

He received a bachelor’s degree in economics from Penn State University and a master of business administration degree in corporate finance from Samuel Silberman School of Business at Fairleigh Dickinson University.

Michael Price, new president and c.e.o. of Nissin Foods USA

“Mike brings immense talent and business acumen to the company, and I am excited to see what future growth opportunities he will unlock for the company,” Mr. Multari said. “Having worked with him for more than three years, I know he will take the right steps to move the business forward by continuing our broader strategic vision.”

Mr. Multari has been president and c.e.o. of Nissin since April 2015. During his tenure he has overseen significant transformations, notably the Cup Noodles and Top Ramen reformulations in 2016 and 2017, respectively, that reduced sodium content and removed both added MSG and artificial flavors. He also oversaw the launch of Cup Noodles Very Veggie, the first instant noodle cup to feature one full serving of vegetables.

Before joining Nissin Foods, Mr. Multari was president of the baking division at Nestle USA. 

“It has been a tremendous honor having Al serve as our president and c.e.o. of Nissin Foods USA during a time of major historical changes for the brand, and I am incredibly proud of everything we have accomplished together in just three years,” Mr. Price said. “I am excited about my upcoming role with the organization and look forward to continuing to do great work with the U.S. team.”

Established in 1970, Nissin Foods USA is part of Tokyo-based Nissin Food Products Co. Ltd. In the United States, Nissin develops and markets a variety of products, including Top Ramen, Cup Noodles, Cup Noodles Very Veggie, Hot & Spicy, Chow Mein, Ramen Bowl, RAOH and Souper Meal.