RGF - The Real Good Food Company Announces Leadership Changes and Supply Chain Optimization | Benzinga
CHERRY HILL, N.J., March 18, 2024 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (NASDAQ:RGF) ("Real Good Foods" or the "Company"), a leading health and wellness frozen and refrigerated foods company, today provided a corporate update concurrent with the appointment of foods executive Tim Zimmer as Chief Executive Officer, effective March 15, 2024.
Leadership Changes
The Company today announced the appointment of Tim Zimmer as the Company's Chief Executive Officer effective March 15, 2024. Mr. Zimmer succeeds Gerard Law, who departed the Company as its Chief Executive Officer, effective March 15, 2024.
Tim Zimmer was most recently the Chief Marketing Officer at Smithfield Foods and held prior roles that included responsibilities across business management, demand planning, R&D and operation process design. Tim has over 30 years of experience in the packaged foods industry at Smithfield Foods, Sara Lee Foods, Kraft Foods and Nestle.
While at Smithfield, Tim played a pivotal role in growing the company's packaged meats business and significantly improving its profitability. Prior to his tenure at Smithfield, Tim was a leader in the turnaround efforts at Sara Lee Fresh Bakery, transforming it into a profitable business before its eventual sale to Grupo Bimbo. Tim has served in management roles in finance, business management, sales, and marketing over his career in multiple channels and temperature zones. Tim holds a B.B.A. in Marketing & Finance from the University of Texas at Arlington and an M.B.A. in Strategy & Finance from the Wake Forest University School of Business.
The Company also appointed Mark Dietz as Senior Vice President of Operations, who will assist the Company with streamlining of the Company's supply chain and improving efficiencies. Mark brings extensive experience in operational leadership, having previously served as VP of Business Management at Smithfield Foods and holding management roles within Sara Lee Meat Brands. While at Smithfield, Mark had full P&L responsibilities for the Curly's and Stefano's brands, which represented well over $600 million in retail sales. Under Mark's leadership, the Curly's brand was introduced into the retail channel and grew to over $150 million in retail sales and turned profitable. Mark also oversaw the plant consolidation and turnaround of the Stefano's brand, which was handheld business that is similar from a manufacturing standpoint to RGF's operations. In his new role, Mark will spearhead initiatives to optimize supply chain and enhance plant efficiencies. Mark holds a B.B.A. in Finance from The University of Cincinnati, Lindner School of Business.
Strategic Actions to Optimize Supply Chain
In an effort to accelerate the optimizing of its supply chain, the Company plans to cease operations at its City of Industry ("COI") facility by June 30, 2024. While ongoing analysis of the closure's overall impact is underway, preliminary assessments indicate substantial cost savings with negligible cash outlays. With a significant portion of COI's production set to transition to the Bolingbrook, IL facility, alongside ...