DALLAS, March 14 /PRNewswire-FirstCall/ — Dean Foods Company (NYSE: DF)
announced today that Steve Demos has resigned his position as President of the
Company’s WhiteWave Foods division to pursue other interests. Dean Foods
Chairman and Chief Executive Officer, Gregg Engles, will assume direct
leadership over WhiteWave Foods on an interim basis.
“Steve is a gifted entrepreneur and visionary,” said Engles. “He built
Silk into a formidable brand and has been instrumental in building our branded
business platform. We are very grateful for his many contributions to Dean
“We have assembled a strong team of talented and experienced professionals
at the new WhiteWave Foods. To lead this team, we will hire a seasoned leader
with deep consumer packaged goods expertise and with the necessary passion to
take the business to even higher levels of success. Momentum in our WhiteWave
Foods division has been strong, and we expect this to continue as we build the
platform for the future.”
Dean Foods has retained James Mead & Company, a leading consumer packaged
goods executive recruiting firm, to assist in the search for a new President
of WhiteWave Foods.
WhiteWave is the nation’s leading manufacturer of soymilk, organic milk
and other organic foods. The division produces approximately $1.2 billion in
annual revenue through its brands, including Silk, Horizon Organic,
International Delight and Land O’Lakes.
Separately, Dean Foods reaffirmed its quarterly and full year guidance for
2005, with consolidated adjusted earnings per share, including the Specialty
segment, expected to be in the range of $0.41 to $0.43 for the first quarter
and between $2.20 and $2.30 for the full year.
About Dean Foods
Dean Foods Company is one of the leading food and beverage companies in
the United States. Its Dairy Group division is the largest processor and
distributor of milk and other dairy products in the country, with an extensive
refrigerated direct-store-delivery network. Through its WhiteWave and Horizon
Organic brands, Dean Foods Company also owns the nation’s leading soymilk and
organic milk brands. The company’s Specialty Foods Group is a leading
manufacturer of private label pickles and non-dairy powdered coffee creamers.
Dean Foods Company and its subsidiaries operate approximately 120 plants in 36
U.S. states, Spain, Portugal and the United Kingdom, and employ approximately
The earnings per share projections contained in this press release are
“forward-looking” statements made pursuant to the safe harbor provision of the
Securities Litigation Reform Act of 1995. Projections involve risks and
uncertainties that may cause results to differ materially from the
projections. The company’s ability to achieve targeted earnings per share
depends on a variety of economic, competitive and governmental factors, many
of which are beyond the company’s control and which are described in the
company’s filings with the Securities and Exchange Commission. The
projections in this press release speak only as of the date of this release.
The company expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to such projections to reflect any change in
its expectations with regard thereto or any changes in the events, conditions
or circumstances on which any such statement is based.
Contact: Barry Sievert Senior Director, Investor Relations (214) 303-3437 Cory Olson Senior Vice President and Treasurer (214) 303-3645 Molly Keveney Director Communications WhiteWave Foods (303) 516-4454
SOURCE Dean Foods Company
CONTACT: Barry Sievert, Senior Director, Investor Relations,
+1-214-303-3437, or Cory Olson, Senior Vice President and Treasurer,
+1-214-303-3645, both of Dean Foods Company; or Molly Keveney, Director
Communications of WhiteWave Foods, +1-303-516-4454