Changes at the Top at B&G Foods

On Jan 30, 2019

Robert C. Cantwell, CEO of Parsippany-based B&G Foods, Inc. announced his plan to retire from the company on April 5. In accordance with a succession plan established in 2017, B&G Foods’ board of directors has appointed Kenneth G. Romanzi, who currently serves as the company’s executive vice president and COO, as the next president and CEO, effective upon Cantwell’s retirement. At such time, Romanzi will also replace Cantwell on the board of directors.

Cantwell’s retirement will bring to a close a remarkable career of more than 35 years of continuous service to B&G Foods, including approximately 23 years of leadership as executive vice president of finance and COO and more than four years of leadership as president and CEO. Following his retirement, it is expected that Cantwell, who turns 62 later this week, will continue to advise the company on M&A and capital markets transactions.

“Bob Cantwell has been a key member of our management team for more than 35 years. During Cantwell’s tenure, B&G Foods has completed more than 20 acquisitions and grown from a small, regional pickle company to a leading public food company with a diverse portfolio of iconic brands. As CEO over the last four years, Cantwell has transformed B&G Foods by completing six acquisitions, including the Green Giant acquisition and the spices & seasonings acquisition, the two largest acquisitions in company history, and the company’s net sales have approximately doubled during Cantwell’s tenure as CEO,” said Stephen C. Sherrill, chairman of the board of directors.

“Bob’s long list of accomplishments, including in mergers & acquisitions, capital markets transactions, operational improvements and cost reduction efforts, has helped lead to tremendous value creation for B&G Foods’ stockholders over the years. Bob and his management team, achieved this through hard work, passion and determination and most importantly, with honesty and integrity. On behalf of our entire board of directors, I express our sincere gratitude to Bob for his invaluable and devoted service to B&G Foods, and for his innumerable contributions to B&G Foods as president and chief executive officer and before that as chief financial officer,” Sherrill said.

“It has been an honor and a privilege to serve as president and CEO and CFO of B&G Foods over the last 35 years,” stated Cantwell. “I am very proud of the tremendous growth we have achieved over that time and would like to thank my senior leadership team and each and every employee of B&G Foods. We could not have achieved this growth without their extraordinary efforts.”

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