LAKE SUCCESS, N.Y. — Mark L. Schiller has been tapped to lead The Hain Celestial Group, Inc. as its next president and chief executive officer. He will replace Irwin D. Simon, who announced his plans to step down as c.e.o. of the company this past June.
Mr. Schiller was most recently chief commercial officer for Pinnacle Foods, Inc., Parsippany, N.J. In that role, he led all commercial functions, including sales, marketing strategy, innovation, product development, package design, commercialization, productivity, consumer insights and shopper marketing. Pinnacle Foods recently was acquired by Conagra Brands, Inc., Chicago.
“Mark is a highly accomplished consumer packaged foods executive with an impressive track record of reinvigorating growth and improving margins for many iconic brands,” said Andrew R. Heyer, lead director for the Hain Celestial Group. “Under Mark's leadership, Hain Celestial will accelerate its business transformation through the execution of our four-point strategic plan investing in top brands and capabilities to grow globally, delivering on Project Terra cost savings, continually enhancing leadership across the organization, and building upon our enviable position as a leader in organic, natural and better-for-you products to create sustainable, long-term value for our stockholders."
Mr. Schiller will assume his new position on Nov. 5. One of his first priorities will be to reinvigorate the company’s struggling U.S. business.
For the fiscal year ended June 30, Hain Celestial net income was $9,694,000, equal to 9c per share on the common stock, down sharply from $67,430,000, or 65c, in the prior fiscal year. Net sales for the fiscal year were $2,457,769,000, up 5% from $2,343,505,000, reflecting strength in the company's United Kingdom and Rest of World segments, offsetting declines in the U.S. business.
During the full year, Hain Celestial U.S. operating profit declined 41% to $86,319,000, driven by higher trade and marketing investments, increased freight and commodity costs and unfavorable mix. Net sales decreased 2.1% over the prior year to $1,084,871,000. Excluding the impact of acquisitions, divestitures and s.k.u. rationalization, adjusted net sales decreased 2%.
"Mark is an incredibly talented executive, and I am confident he can lead Hain Celestial in its next phase of growth to generate value for all of our stakeholders,” Mr. Simon said. “His disciplined management style, entrepreneurial spirit and relentless passion for profitable growth will serve Hain Celestial well as our team works to further advance our strategic objectives."