MGP Hires Executive Vice President of Operations

Rhea-AI Summary

MGP Ingredients has announced the appointment of David Colyott as Executive Vice President of Operations, effective July 2024. Colyott replaces Steve Glaser, who is retiring after a 13-year tenure. Colyott brings over 30 years of experience in supply chain operations and has held significant roles at Mars Petcare, Nestlé Waters, Ryder, and The Home Depot. He holds a Bachelor of Science in Marketing from Eastern Illinois University and has completed executive leadership programs at London School of Business, Nestlé, and Mars Petcare. MGP Ingredients' CEO, David Bratcher, expressed optimism about Colyott's leadership aligning with the company’s strategy of transitioning into a branded spirits company.

Positive

• David Colyott has over 30 years of experience in supply chain operations.
• Colyott has held leadership roles in major companies like Mars Petcare, Nestlé Waters, Ryder, and The Home Depot.
• Colyott’s appointment aligns with MGP Ingredients' strategy to transition into a branded spirits company.
• CEO David Bratcher expressed confidence in Colyott’s ability to lead the supply chain team.
• Colyott’s education includes a Bachelor of Science in Marketing and executive leadership programs from prestigious institutions.

Negative

• The retirement of Steve Glaser, who contributed significantly over 13 years, could create a transitional challenge.
• There may be a learning curve for Colyott in adapting to the specific needs and culture of MGP Ingredients.

ATCHISON, Kan., June 10, 2024 /PRNewswire/ -- MGP Ingredients, Inc., (MGPI: Nasdaq), a leading provider of branded and distilled spirits as well as food ingredient solutions, is pleased to announce the hiring of David Colyott as its Executive Vice President of Operations. He will succeed Steve Glaser, who is retiring in July 2024 after 13 years with MGP.

Colyott brings over 30 years of experience in leading diverse and complex supply chain operations across the consumer packaged goods industry. He most recently served as Vice President of the Supply Chain Center of Excellence at Mars Petcare since 2018, where he led the development and execution of an efficient supply chain, while aligning operational strategies and systems with organizational mission, vision, and objectives. Prior to that, he spent ten years as Supply Chain Director for Nestlé Waters North America. Early in his career, he served in supply chain leadership roles at Ryder and The Home Depot.

"We are thrilled to welcome Dave to our team," said David Bratcher, CEO and President of MGP Ingredients. "His deep experience in rapidly evolving global supply chain environments and proven leadership credentials are a great fit for MGP as we continue to execute our long-term strategy of transitioning into a branded spirits company. Additionally, I want to express our deepest gratitude for Steve's tireless efforts and invaluable contributions in building a very talented and committed supply chain team at MGP."

Colyott earned a Bachelor of Science in Marketing with a Minor in Psychology from Eastern Illinois University. He also completed executive leadership programs at London School of Business, Nestlé, and Mars Petcare.

About MGP
MGP Ingredients, Inc. (Nasdaq: MGPI) is a leading producer of premium branded and distilled spirits, as well as food ingredient solutions. Since 1941, we have combined our expertise and energy aimed at formulating excellence, bringing product ideas to life collaboratively with our customers. 

As one of the largest distillers in the U.S., MGP's offerings include bourbon and rye whiskeys, gins, and vodkas, which are created at the intersection of science and imagination, for customers of all sizes, from crafts to multinational brands. With distilleries in Kentucky and Indiana, and bottling operations in Missouri, Ohio, and Northern Ireland, MGP has the infrastructure and expertise to create on any scale.

MGP's branded spirits portfolio covers a wide spectrum of brands in every segment, including iconic brands from Luxco, which was founded in 1958 by the Lux Family. Luxco is a leading producer, supplier, importer, and bottler of beverage alcohol products. Our branded spirits mission is to meet the needs and exceed the expectations of consumers, associates, and business partners. Luxco's award-winning spirits portfolio includes well-known brands from four distilleries: Bardstown, Kentucky-based Lux Row Distillers, home of Ezra Brooks, Rebel, Blood Oath, David Nicholson, and Daviess County; Lebanon, Kentucky-based Limestone Branch Distillery, maker of Yellowstone Kentucky Straight Bourbon Whiskey, Minor Case Straight Rye Whiskey, and Bowling & Burch Gin; Jalisco, Mexico-based Destiladora Gonzalez Lux, producer of 100% agave tequilas, El Mayor, Exotico, and Dos Primos; and the historic Ross & Squibb Distillery in Lawrenceburg, Indiana, where Penelope Bourbon, Remus Straight Bourbon Whiskey, and Rossville Union Straight Rye Whiskey are produced. The innovative and high-quality brand portfolio also includes Everclear Grain Alcohol, Pearl Vodka, Green Hat Gin, Saint Brendan's Irish Cream, The Quiet Man Irish Whiskey, and other well-recognized brands.

In addition, our Ingredient Solutions segment offers specialty proteins and starches that help customers harness the power of plants and provide a host of functional, nutritional, and sensory benefits for a wide range of food products. 

The transformation of American grain into something more is in the soul of our people, products, and history. We're devoted to unlocking the creative potential of this extraordinary resource. For more information, visit mgpingredients.com.

Media Contact: Patrick Barry, 314.540.3865, patrick@byrnepr.net 
Investor Contact: Amit Sharma, 917.922.0211, investor.relations@mgpingredients.com 

 

View original content:https://www.prnewswire.com/news-releases/mgp-hires-executive-vice-president-of-operations-302167991.html

SOURCE MGP Ingredients, Inc.

FAQ

Who is the new Executive Vice President of Operations for MGP Ingredients?

David Colyott has been appointed as the new Executive Vice President of Operations for MGP Ingredients.

When will David Colyott start his role at MGP Ingredients?

David Colyott will start his role at MGP Ingredients in July 2024.

What experience does David Colyott bring to MGP Ingredients?

David Colyott has over 30 years of experience in supply chain operations, with leadership roles at Mars Petcare, Nestlé Waters, Ryder, and The Home Depot.

What is MGP Ingredients' strategy mentioned in the press release?

MGP Ingredients is focusing on transitioning into a branded spirits company.

Who is retiring from the role of Executive Vice President of Operations at MGP Ingredients?

Steve Glaser is retiring from the role after 13 years with MGP Ingredients.