DALLAS, Oct 11, 2005 /PRNewswire-FirstCall via COMTEX News Network/ — Dean Foods Company (NYSE: DF)
today announced that Joseph Scalzo has begun his term as President and Chief
Executive Officer of the company’s WhiteWave Foods division. Scalzo brings
over 20 years of experience at major consumer product and beverage companies.
In his capacity as President and Chief Executive Officer of WhiteWave Foods,
he reports directly to Gregg Engles, Chairman and Chief Executive Officer of
“We are very excited to have Joe leading WhiteWave Foods,” said Engles.
“He brings a unique mix of skills and leadership capabilities that we believe
will help WhiteWave capture the full potential of its brands.”
Scalzo most recently was employed by The Gillette Company, where he served
as Group President, Personal Care and Global Value Chain. As a member of
Gillette’s senior management team, he led the successful three-year turnaround
of the company’s one billion dollar global personal care division and oversaw
the company’s global value chain. Scalzo’s previous experience includes
service as the Senior Vice President and Chief Marketing Officer at The Minute
Maid Company, and product marketing and supply positions at Procter & Gamble.
Today the company awarded to Mr. Scalzo an option to purchase 245,000
shares of the company’s common stock at an exercise price of $37.98 per share,
which was the closing price of the stock yesterday. The options will vest in
three equal installments over a period of three years, beginning on the first
anniversary of the date of grant, and will expire on the tenth anniversary of
the date of grant. The option award was approved by the Compensation
Committee of the Company’s Board of Directors without shareholder approval as
an “inducement grant,” as such term is defined by the New York Stock Exchange.
ABOUT DEAN FOODS
Dean Foods is one of the leading food and beverage companies in the United
States. Its Dairy Group is the largest processor and distributor of fresh
milk and other dairy products in the country, with products sold under more
than 50 familiar local and regional brands and a wide array of private labels.
The company’s WhiteWave Foods subsidiary is the nation’s leading organic foods
company. WhiteWave Foods markets and sells a variety of well-known dairy and
dairy-related products, such as Silk(R) soymilk, Horizon Organic(R) dairy
products and juices, International Delight(R) coffee creamers and LAND
O’LAKES(R) creamers and cultured products. Dean Foods Company also owns the
fourth largest dairy processor in Spain and the leading brand of organic dairy
products in the United Kingdom.
Contact: Barry Sievert
Senior Director, Investor Relations (214) 303-3437
SOURCE Dean Foods Company
Barry Sievert, Senior Director, Investor Relations of Dean Foods Company,