Flower Foods Appoints New CEO
Flowers Foods, Inc, producer of Nature’s Own, Wonder, Tastykake, Dave’s Killer Bread, and other bakery foods, has announced that Ryals McMullian, the company’s chief operating officer, has been elected president and CEO, effective as of the company’s 2019 annual meeting of shareholders.
The board of directors, in accordance with the company’s management succession plan, elected McMullian following the decision by Allen L. Shiver, president and CEO, to retire and step down from the board. To ensure a seamless transition, Shiver will continue to serve in his current position and as a board member until the annual meeting and will then serve as a non-executive special advisor to the company through the end of the year.
Benjamin H. Griswold, IV, presiding director of Flowers’ board, said: “Ryals has been a driving force behind the effort to grow the company into new areas we believe can enhance shareholder value and strengthen our competitive position. He has done an outstanding job aligning the team behind our strategic goals and pushing our efforts forward. We are confident he is the right choice to take the helm at this exciting and important time in our company’s history.”
Commenting on Allen Shiver’s 41-year career with the company, George E. Deese, non-executive chairman of Flowers Foods’ board of directors said: “Allen has been a strong advocate for our company and the baking industry. He has made significant contributions to the development of our brands and the growth of the company through key acquisitions, such as Dave’s Killer Bread, and he led the team during the development and implementation of the company’s strategic transformation under Project Centennial.”
Shiver said: “Over the past four decades, I have seen this company grow from a regional bakery to a national powerhouse, with leading brands and a strong foundation for future growth and value creation. Since 2017, our company has made great strides in establishing a strong team, and we are taking actions to improve efficiencies and enhance profitability. Ryals and I have worked closely together over the past few years, and I know I am leaving the company in very capable hands. It has truly been an honor and privilege to work with all the outstanding members of the Flowers team.”
McMullian, 49, joined Flowers Foods in 2003, and was named chief operating officer in July 2018. Since 2016, he has directed the company’s transformation under Project Centennial.
Shiver, 63, joined the company in 1978, and has served as president and CEO of Flowers Foods since 2013. He currently serves as an American Bakers Association (ABA) board member and has served as ABA’s chairman of the board.