Tuesday, 9 November 2010

Dean Foods CFO to Resign

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Tuesday, 9 November 2010

Shaun Mara Named as Successor

DALLAS, Nov. 9, 2010 /PRNewswire via COMTEX/ — Dean Foods Company (NYSE: DF) today announced that Jack Callahan, 52, will resign his role as Dean Foods Executive Vice President and Chief Financial Officer (CFO) to accept a similar position as Chief Financial Officer of another publicly traded company.

The Company also announced that Shaun Mara, 45, would succeed Callahan as the Company’s Chief Financial Officer upon Callahan’s departure. Mara, who currently serves as the Company’s Senior Vice President and Chief Accounting Officer, has been with the Company since June of 2010. Callahan will remain with the company until November 30, 2010 to assure a seamless transition.


“The Board, our Executive Team and I want to thank Jack for his many contributions to Dean Foods. Under Jack’s leadership, we began and have made significant progress in our transformation of the business and the Finance function,” said Gregg Engles, Chairman and Chief Executive Officer. “Jack has led the development of strategies to build the Supply Chain Finance organization in support of our transformation initiatives, drove needed realignment of core financial processes and attracted an impressive Finance Leadership Team to Dean Foods.”


Added Engles, “Over the last five years, I have valued Jack’s guidance and counsel. I will miss collaborating with him on critical company matters. We wish Jack well in his future endeavors.”


Mara will succeed Callahan as CFO on December 1, 2010. Mara most recently served as Senior Vice President of Finance for the Wm. Wrigley Jr. Company, a subsidiary of Mars, Incorporated, where he had responsibility for corporate reporting, global finance, and post-merger integration functions. Prior to the acquisition of the Wm. Wrigley Jr. Company by Mars, Mara also served as Corporate Controller and Chief Accounting Officer and oversaw all accounting, SEC financial filings, and Sarbanes-Oxley compliance matters. Prior to joining Wrigley, Mara held senior corporate finance positions with The Gillette Company. He also has past experience with Staples, Inc. and KPMG.


“With deep experience in food and consumer packaged goods, Shaun is an industry veteran who will contribute immediately to the on-going transformation of the Finance function and Dean Foods more broadly,” said Engles. “Driving cost reductions and building the capabilities needed to capture those savings remain the key focus of our long-term strategic growth plan.”


ABOUT DEAN FOODS


Dean Foods is one of the leading food and beverage companies in the United States and a European leader in branded soy foods and beverages. The Company’s Fresh Dairy Direct-Morningstar segment is the largest U.S. processor and distributor of milk, creamer, and cultured dairy products. These offerings are marketed under more than 50 local and regional dairy brands, as well as through private labels. The WhiteWave-Alpro segment produces and sells an array of branded dairy, soy and plant-based beverages and foods. WhiteWave brands, including Silk(R) soy and almond milk, Horizon Organic(R) milk and dairy products, International Delight(R) coffee creamers, and LAND O LAKES(R) creamers, are category leaders and consumer favorites. Alpro is the pan-European leader in branded soy food products.


CONTACT: Corporate Communications, Liliana Esposito, +1-214-721-7730, or Investor Relations, Barry Sievert, +1-214-303-3437, both of Dean Foods Company


SOURCE: Dean Foods Company

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