Conagra Brands Announces Appointment of Scott Ostfeld to its Board of Directors
CHICAGO, Jan. 28, 2019 /PRNewswire/ -- Conagra Brands, Inc. (NYSE: CAG) today announced the appointment of Scott Ostfeld to its board of directors, effective February 16, 2019. He will also join the Human Resources Committee of the board. Mr. Ostfeld is a partner of JANA Partners LLC, which has been a long-term investor in Conagra Brands.
"We are pleased to welcome Scott to the Conagra Brands board of directors," said Rick Lenny, chairman. "As a significant Conagra Brands shareholder for many years, Scott provides valuable perspective and a deep understanding of the industry, our business and the opportunities we have as we navigate this time of transformation and deliver superior shareholder value over the long-term."
Sean Connolly, president and chief executive officer of Conagra Brands, commented, "Our board and management team have benefited from Scott's insights as a shareholder, and I welcome his contributions and continued support as a member of the board."
Scott Ostfeld added, "As a long-term shareholder of both Conagra Brands and, prior to its acquisition by Conagra, Pinnacle Foods, I have a unique understanding of, and appreciation for, the tremendous potential of the combined company. I have confidence in Conagra's ability to create shareholder value through the successful integration of the Pinnacle Foods acquisition and execution of its proven brand-building and innovation playbook across its attractive collection of brands. I look forward to working closely with Rick, Sean and the rest of the board to represent the interests of all shareholders."
In the past year, Conagra Brands has added three new, independent directors, including Mr. Ostfeld, with diverse backgrounds in finance, technology and operations and expertise in food and consumer packaged goods. With the addition of Mr. Ostfeld, the board will return to 11 members following the departure of three directors in 2018.
About Scott Ostfeld
Scott Ostfeld, 42, is a partner of JANA Partners LLC which he joined in 2006, an investment manager located in New York, and co-portfolio manager of JANA Partners LLC's active equity ownership strategy, JANA Strategic Investments. Mr. Ostfeld is a member of the Board of Directors of HD Supply Holdings, Inc. and was previously a member of the Board of Directors of Team Health Holdings, Inc. Mr. Ostfeld serves on the non-profit boards for Columbia University's Richman Center for Business, Law and Public Policy, and The Opportunity Network. Mr. Ostfeld received a J.D. from Columbia Law School, an M.B.A. from Columbia Business School, and a B.A. from Columbia University.
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America's leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company's portfolio is evolving to satisfy people's changing food preferences. Conagra's iconic brands, such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, as well as emerging brands, including Angie's® BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion. For more information, visit www.conagrabrands.com.
For more information, please contact:
MEDIA: Mike Cummins
INVESTORS: Brian Kearney
SOURCE Conagra Brands, Inc.