KANSAS CITY — C. Dean Metropoulos, chairman of Hostess Brands, Inc., has notified the company of his intent to resign from the board of directors at the end of the year to pursue other opportunities. Current independent director Jerry Kaminski has been appointed chairman of the board, effective immediately.
“Transforming Hostess into one of the premier branded CPG companies in the industry, initially as CEO and recently as chairman, has been very successful,” Mr. Metropoulos said. “Over the past two years, the management team has built a strong foundation and is positioned for continued industry leading revenue growth at industry leading margins, following the successful Voortman acquisition to build value. Hostess’ best years are ahead, and I am very confident the company will continue to thrive, as it continues to establish new platforms for incremental growth, both organic and through acquisitions.”
Mr. Metropoulos, founder and chief executive officer of Metropoulos & Co., was named CEO of the Hostess snack cakes business following the acquisition by HB Holdings LLC in the spring of 2013. A year later, he stepped aside as William Toler took over as president and CEO. In March 2018 he was named interim president and CEO after Mr. Toler retired, but he quickly returned to his role as executive chairman of the company after Andrew P. Callahan was named president and CEO in May 2018.
“On behalf of our board of directors and management team, I would like to thank Dean for his vast contributions to Hostess,” Mr. Callahan said. “He has provided extraordinary leadership, both through taking the company public and continuing to offer keen business insight. When he fully transitions away from his board membership at the end of the year, he will leave an enviable legacy at Hostess, as he has played an essential role in helping us become the company we are today.”
Mr. Kaminski has been a member of Hostess’ board of directors since November 2016 and is currently executive vice president and chief operating officer at Arden Hills, Minn.-based Land O’Lakes Inc., where he has held various roles since 2007. Prior to Land O’Lakes, he was vice president and general manager at General Mills, Inc., where he held various leadership positions in the retail and business-to-business segments. He also was president and COO at Sparboe Foods.
Hostess said Mr. Kaminski was chosen to step into the chairman role because of his “extensive global experience in the consumer packaged goods industry and the strong leadership he has demonstrated while serving on the board thus far.”
“Jerry’s contributions during his time on the board have been invaluable, and I am confident that he is the right choice for the chairman position,” Mr. Callahan said. “His unparalleled passion for the company will serve us well as we continue to drive growth momentum with the aim of increasing shareholder value over the long term.”