Rich’s Announces CEO Succession

American food producer Rich Products has announced an executive leadership transition – one that activates the company’s decade-long succession plan.

Current Rich Products president and chief operating officer (COO) Richard Ferranti will be promoted, succeeding Bill Gisel as the company’s new CEO and becoming the leader of Rich’s USD4bn global food business.

Effective January 1, 2020, long-time CEO Bill Gisel will become executive vice chair of Rich Holdings, Inc. – the holding company for all Rich family business enterprises, including food, logistics, sports, travel, dining and theatre.

“No associate has greater individual influence over the success of our global business than the chief executive officer. For more than a decade, Bill Gisel has worked closely with Mindy Rich and me to chart the right course for the eventual succession of our company’s CEO. During that time, Richard Ferranti emerged as a trusted leader; one with tremendous energy and passion for our business, our customers and our associates,” said Bob Rich, Jr., chairman, Rich Products.

Ferranti steps into the CEO role after his promotion to company president in April of 2018. Together with Gisel and the company’s executive team, he’s led the growth of Rich’s global footprint, which spans six continents, operating in more than 100 countries and 40 manufacturing facilities around the world.