Conagra Brands Announces Appointment Of Manny Chirico To Its Board Of Directors

Rhea-AI Summary

Conagra Brands (NYSE: CAG) announced the appointment of Manny Chirico to its board of directors, effective February 1, 2021, increasing the board size to 11 members. Chirico, currently the CEO of PVH Corp., has over 25 years of experience and a strong focus on consumer brands and corporate culture. His addition is expected to enhance value for shareholders. Conagra Brands is recognized for its diverse portfolio of iconic food brands and aims to innovate for changing consumer preferences.

Positive

• Manny Chirico's extensive experience in building consumer brands may enhance shareholder value.
• The board's expansion to 11 members suggests a commitment to strengthened leadership.

Negative

• Chirico's transition from PVH Corp. could raise concerns about continuity in leadership during the change.

CHICAGO, Dec. 14, 2020 /PRNewswire/ -- Conagra Brands, Inc. (NYSE: CAG) today announced the appointment of Manny Chirico to its board of directors, effective February 1, 2021. With this addition, the Conagra Brands board will increase to 11 members.

"We're most pleased to welcome Manny to the Conagra Brands board," said Richard H. Lenny, chairman, Conagra Brands. "Conagra and our shareholders will benefit from Manny's deep experience building consumer brands, leading organizations and his strong emphasis on corporate culture and social responsibility."

Manny Chirico said, "I am honored to be joining the Conagra Brands board. The board of directors, management team, and all Conagra employees have done an incredible job building Conagra into an innovative, consumer-focused packaged food company and I look forward to contributing to Conagra's continued success in the years to come."

About Manny Chirico

Manny Chirico, 63, is an accomplished executive with an established track record of building shareholder value. Mr. Chirico is currently Chairman and Chief Executive Officer of PVH Corp., one of the world's most admired fashion and lifestyle companies in the world, with almost 40,000 associates and operating in 40 countries. PVH's iconic brands include Calvin Klein, TOMMY HILFIGER, Van Heusen, ARROW, Warner's and IZOD. He has served in multiple leadership roles with PVH during his more than 25 years with the company, serving as CEO since 2006 and Chairman since 2007. He will retire from his role as PVH's CEO on February 1, 2021. Prior to joining PVH, Mr. Chirico was a Partner with international accounting firm Ernst & Young, leading its Retail and Apparel Practice Group. He has served as a director of Dick's Sporting Goods, Inc. since 2003. Mr. Chirico earned a bachelor's degree in Accounting & Finance from Fordham University where he serves on the Board of Trustees.

About Conagra Brands

Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America's leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company's portfolio is evolving to satisfy people's changing food preferences. Conagra's iconic brands, such as Birds Eye^®, Marie Callender's^®, Banquet^®, Healthy Choice^®, Slim Jim^®, Reddi-wip^®, and Vlasic^®, as well as emerging brands, including Angie's^® BOOMCHICKAPOP^®, Duke's^®, Earth Balance^®, Gardein^®, and Frontera^®, offer choices for every occasion. For more information, visit www.conagrabrands.com.

For more information, please contact:
MEDIA: Dan Hare
312-549-5355
Daniel.Hare@conagra.com

INVESTORS: Brian Kearney
312-549-5002
IR@conagra.com

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SOURCE Conagra Brands, Inc.

FAQ

What is the significance of Manny Chirico joining Conagra Brands' board of directors?

Manny Chirico's appointment to the board is significant as it brings extensive experience in consumer branding and leadership, which could positively impact shareholder value.

When does Manny Chirico officially start his role at Conagra Brands?

Manny Chirico's appointment to the board of directors becomes effective on February 1, 2021.

How will Manny Chirico's experience benefit Conagra Brands?

Chirico's deep experience in building consumer brands and corporate culture is expected to enhance Conagra's strategic direction and shareholder value.

What changes does the new board member bring to Conagra Brands?

The addition of Manny Chirico could bring fresh perspectives to Conagra Brands, enhancing its leadership while focusing on innovation and consumer engagement.