Armanino Foods of Distinction Announces the Addition of Two New Directors to Its Board

Rhea-AI Summary

Armanino Foods of Distinction announces the appointment of Tony Muscato and James Ford, CFA, to its Board of Directors, filling vacancies left by the passing of Edmond Pera and Patricia Fehling.

Muscato, with over 30 years of food industry experience, has held executive roles at Country Pure Foods and Diamond Crystal Brands. Ford, a CFA and managing partner at First Ballantyne, , brings over 20 years in capital markets investment and owns 3.498% of Armanino Foods' shares.

Chairman Douglas Nichols praised the new directors' expertise and acknowledged the contributions of the late directors, emphasizing the company's commitment to quality and strategic growth.

Positive

• Tony Muscato's extensive experience in the food industry, including leadership roles at notable companies, adds valuable expertise to the board.
• James Ford's significant ownership stake (3.498%) indicates strong shareholder alignment and vested interest in the company's success.
• The appointments underscore Armanino Foods' strategic commitment to enhancing its leadership team and achieving long-term success.
• Muscato and Ford’s diverse backgrounds in foodservice and capital markets bring a wealth of knowledge that can help drive the company's growth objectives.

Negative

• The new appointments follow the unfortunate passing of two long-time directors, indicating potential instability or transitionary challenges within the board.
• The announcement does not include immediate or specific plans on how the new directors will address current company challenges, leaving uncertainties for investors.

PLEASANTON, Calif.--(BUSINESS WIRE)-- Armanino Foods of Distinction, Inc. (OTC Pink: AMNF), a leading innovator in the gourmet food industry, is pleased to announce the appointment of Tony Muscato and James Ford, CFA, to its Board of Directors, to fill the vacancies created by the passing of directors Edmond Pera and Patricia Fehling. These appointments reflect the Company's commitment to strengthening its leadership team and enhancing its strategic vision.

Tony Muscato brings over 30 years of experience in the food industry, having held key leadership roles, including President & CEO of Country Pure Foods, Harry’s Fresh Foods, and Diamond Crystal Brands. Tony's career began in marketing with the H.J. Heinz Company, where he advanced to hold senior leadership positions throughout the United States and Europe, including Group Vice President of North American Foodservice Sales & Marketing and Managing Director European Foodservice. He has also served on boards for several food industry companies, including Ferraro Foods, Kettle Cuisine, and Buzzard’s Roost Spirits. Muscato holds a B.S. in Management from Canisius College and a M.B.A. from Carnegie Mellon University.

James Ford, CFA is President and Managing Partner of First Ballantyne, LLC, a U.S. fixed income boutique broker dealer, and brings more than 20 years of experience in the capital markets and investment industry. A seasoned professional investor, James has been involved in several complex restructurings and transactions throughout his career. He is a major stockholder in the Company, owning 3.498% of the outstanding shares. His interest in Armanino Foods began in 2017 when his family first tasted Armanino’s great, fresh-tasting basil pesto. Ford holds a B.S. in Business Administration from the University of North Carolina, Chapel Hill, and is a board member of Pharmchem, Inc.

"We are thrilled to welcome Tony Muscato and James Ford to our Board of Directors," said Douglas Nichols, Chairman of the Board of Armanino Foods of Distinction. "Their combined perspectives, experience, expertise and leadership will be critical as we pursue our mission to deliver exceptional products to our customers. These appointments underscore our dedication to excellence and to our commitment to achieving our strategic growth objectives."

Nichols added, “I would be remiss if I did not take this opportunity to acknowledge the tremendous contributions of the Company's former longtime directors, the late Edmond Pera and Patricia Fehling. Ed and Pat were not only instrumental in the long-term success of Armanino Foods but were also great friends who are fondly remembered and greatly missed by all of us. I know they would be very pleased that the nominating committee was able to recruit such qualified candidates as Tony and James as their successors."

“Armanino Foods of Distinction remains committed to upholding the highest standards of quality and innovation in the gourmet food sector. The addition of Muscato and Ford to the board signifies a pivotal step in enhancing the company’s governance and achieving long-term success.”

Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pestos, sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s organic line includes classic Basil Pesto. Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606534131/en/

Edgar Estonina

COO/CFO

(510) 441-9300

AMNF@armaninofoods.com

Source: Armanino Foods of Distinction, Inc.

FAQ

Who are the new directors appointed to Armanino Foods' board?

Tony Muscato and James Ford, CFA, have been appointed to the Board of Directors.

What experience does Tony Muscato bring to Armanino Foods?

Tony Muscato has over 30 years of experience in the food industry, having held executive roles at Country Pure Foods, Harry’s Fresh Foods, and Diamond Crystal Brands.

What is James Ford's background?

James Ford, CFA, is President and Managing Partner of First Ballantyne, , with over 20 years of experience in capital markets and investment.

What is James Ford's ownership stake in Armanino Foods?

James Ford owns 3.498% of the outstanding shares of Armanino Foods.

Why were the new directors appointed to Armanino Foods' board?

The new directors were appointed to fill vacancies left by the passing of Edmond Pera and Patricia Fehling.

What are the strategic goals for Armanino Foods with these new appointments?

The appointments aim to strengthen the leadership team and enhance the company's strategic vision and growth objectives.