The Simply Good Foods Company Announces Shaun Mara as Chief Financial Officer

Rhea-AI Summary

The Simply Good Foods Company (NASDAQ: SMPL) announced the appointment of Shaun Mara as Chief Financial Officer, effective October 27, 2022. Previously the CFO of Atkins Nutritionals, Mara has extensive financial experience. He succeeds Todd E. Cunfer, who is resigning for personal reasons but will assist in the transition. Joseph E. Scalzo, CEO, expressed confidence in Mara's capabilities to drive sustainable growth. The company focuses on nutritional foods and plans to expand its wellness platform and snacking innovation.

Positive

• Shaun Mara's extensive experience in finance and prior role as CFO at Atkins Nutritionals supports strategic continuity.
• Mara's past involvement in the company's strategic planning and integration efforts is expected to enhance operational effectiveness.

Negative

• The resignation of Todd E. Cunfer may cause temporary disruption during the transition period.

DENVER, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (NASDAQ: SMPL) (“Simply Good Foods” or the “Company”), a developer, marketer and seller of branded nutritional foods and snacking products, today announced Shaun Mara as Chief Financial Officer (“CFO”), effective October 27, 2022. Mara was previously CFO of Atkins Nutritionals, Inc. and Simply Good Foods from 2014 to August 2017. After the successful merger combination between Conyers Park Acquisition Corp. and Atkins Nutritionals, Inc., which created The Simply Good Foods Company in July 2017, Mara pursued other opportunities before returning to Simply Good Foods in June 2019, as Senior Vice President of Strategy and Business Development. In this role, Mara has led the Company’s strategic planning initiatives and the integration team for the Quest acquisition. Mara will succeed Simply Good Foods’ current CFO, Todd E. Cunfer, who has announced his resignation to pursue another executive leadership role at a company headquartered closer to his family. Cunfer will remain with the Company and assist with the transition of his responsibilities for a brief period.

Joseph E. Scalzo, President and Chief Executive Officer of Simply Good Foods said, “I am extremely happy to work with Shaun as our CFO. I have known Shaun for over 20 years. As an invaluable member of our executive team for many years, he knows our business and the category well and has been intimately involved in both our strategy development and market execution. His background and operating experience will serve Simply Good Foods well as we continue to execute against our plans and strategies of generating long-term sustainable net sales and earnings growth that we believe creates value for shareholders. I also want to thank Todd for his many contributions to Simply Good Foods relating to our steady growth since our transition to a public company and the transformational Quest acquisition. He has been a trusted partner and a terrific CFO. We wish him well with his new opportunity closer to family.”

Mara will lead Simply Good Foods’ finance function, including tax, treasury, internal audit, investor relations, external development, corporate financial planning and analysis, and financial systems, as well as the Company’s information technology group. Mara will continue to report to Scalzo.

Prior to Atkins Nutritionals, Inc., Mara was Chief Financial Officer at Dean Foods and Roofing Supply Company after spending more than 20 years working in senior financial positions at the William Wrigley Jr. Company, the Gillette Company and Staples, Inc. Mara started his career earning a CPA while working at KPMG Peat Marwick and received his undergraduate degree from Bentley University.

About The Simply Good Foods Company
The Simply Good Foods Company (Nasdaq: SMPL), headquartered in Denver, Colorado, is a highly-focused food company with a product portfolio consisting primarily of nutrition bars, ready-to-drink shakes, sweet and salty snacks and confectionery products marketed under the Atkins®, Quest®, Atkins Endulge® and Quest Hero^TM brand names. Simply Good Foods is poised to expand its wellness platform through innovation and organic growth along with investment opportunities in the snacking space and broader food category. Simply Good Foods aims to lead the nutritious snacking movement with trusted brands that offer a variety of convenient, innovative, great-tasting, better-for-you snacks and meal replacements. For more information, please visit http://www.thesimplygoodfoodscompany.com.

Forward Looking Statements

Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by or include words such as “will”, “expect”, “intends” or other similar words, phrases or expressions. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. We caution that these forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Undue reliance should not be placed on forward-looking statements. These statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. These forward-looking statements include, among other things, statements regarding the effect of the novel coronavirus (“COVID-19”) on our business, financial condition and results of operations, our ability to continue to operate at a profit, the sufficiency of our sources of liquidity and capital, our ability to maintain current operation levels, our ability to maintain and gain market acceptance for our products or new products, our ability to capitalize on attractive opportunities, our ability to respond to competition and changes in the economy, unexpected costs, the amounts of or changes with respect to certain anticipated restructuring, raw materials and other costs, difficulties and delays in achieving the synergies and cost savings in connection with the Quest Acquisition, changes in the business environment in which we operate including general financial, economic, capital market, regulatory and political conditions affecting us and the industry in which we operate, unforeseen business disruptions or other effects due to current global geopolitical tensions, including relating to Ukraine, changes in consumer preferences and purchasing habits, our ability to maintain adequate product inventory levels to timely supply customer orders, changes in taxes, tariffs, duties, governmental laws and regulations, the availability of or competition for other brands, assets or other opportunities for investment by us or to expand our business, competitive product and pricing activity, difficulties of managing growth profitably, the loss of one or more members of our management team, expansion of our wellness platform and other risks and uncertainties indicated in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) filed with the U.S. Securities and Exchange Commission from time to time. In addition, forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this communication. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date, and cautions investors not to place undue reliance on any such forward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this communication.

Investor Contact
Mark Pogharian
Vice President, Investor Relations, Treasury and Business Development
The Simply Good Foods Company
(720) 768-2681
mpogharian@simplygoodfoodsco.com

FAQ

Who is the new CFO of Simply Good Foods as of October 27, 2022?

Shaun Mara has been appointed as the new Chief Financial Officer of Simply Good Foods.

What was Shaun Mara's previous role before becoming CFO of Simply Good Foods?

Before becoming CFO, Shaun Mara was the CFO of Atkins Nutritionals and served as Senior Vice President of Strategy and Business Development at Simply Good Foods.

Why did Todd E. Cunfer resign from his position at Simply Good Foods?

Todd E. Cunfer resigned to pursue another executive leadership role closer to his family.

What strategic focus did Simply Good Foods highlight with the new CFO appointment?

The company aims to execute plans for long-term sustainable growth in net sales and earnings, particularly in the nutrition and snacking markets.

What types of products does Simply Good Foods offer?

Simply Good Foods offers a variety of nutritional foods, including nutrition bars, ready-to-drink shakes, and snacks under brands like Atkins and Quest.