Simply Good Foods announces CFO Shaun Mara will retire July 3, 2025, with Christopher Bealer set to succeed him.
Quiver AI Summary
The Simply Good Foods Company has announced a succession plan for its Chief Financial Officer, Shaun P. Mara, who will retire on July 3, 2025, after serving as CFO since 2022 and in various roles since 2017. Christopher J. Bealer will join the company on April 1, 2025, as Senior Vice President of Finance and is expected to take over as CFO upon Mara's retirement. Bealer brings nearly 23 years of experience in the consumer packaged goods sector, having held key positions at Reckitt Benckiser and Whirlpool Corporation. Company leadership expressed gratitude for Mara's contributions and confidence in Bealer's capabilities, emphasizing a smooth transition that positions Simply Good Foods for future growth and financial success.
Potential Positives
- The appointment of Christopher J. Bealer as the new CFO, who brings nearly 23 years of experience in consumer packaged goods and a strong background in financial leadership, is seen as a positive step for the company's future direction.
- The planned transition from current CFO Shaun P. Mara, who has been instrumental in the company's evolution, indicates a proactive approach to leadership continuity and stability.
- The CEO and Chairman's positive remarks about the careful succession planning process and confidence in Bealer's capabilities suggest alignment and support among the leadership team, which is crucial for the company's strategic growth.
Potential Negatives
- The announcement of Shaun P. Mara's retirement may raise concerns regarding leadership stability and the transitional period that could affect financial oversight.
- The reliance on Christopher J. Bealer, who is joining the company with limited experience specific to its brands, may lead to uncertainties in financial strategy execution during the transition.
- The lengthy list of forward-looking statements and associated risks may signal to investors potential vulnerabilities in performance and market adaptability.
FAQ
Who is the new CFO of Simply Good Foods?
Christopher J. Bealer will become the new CFO of Simply Good Foods effective July 3, 2025.
When will Shaun P. Mara retire?
Shaun P. Mara has announced his retirement effective July 3, 2025, after serving as CFO since 2022.
What is Christopher J. Bealer's background?
Bealer has over 23 years of experience in consumer packaged goods, including leadership roles at Reckitt and Whirlpool Corporation.
What brands does Simply Good Foods manage?
Simply Good Foods manages brands such as Quest, Atkins, and OWYN, focusing on nutritional products.
How is the succession plan structured at Simply Good Foods?
The succession plan includes a detailed transition process to ensure a smooth handover from Mara to Bealer.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SMPL Insider Trading Activity
$SMPL insiders have traded $SMPL stock on the open market 14 times in the past 6 months. Of those trades, 0 have been purchases and 14 have been sales.
Here’s a breakdown of recent trading of $SMPL stock by insiders over the last 6 months:
- JOSEPH SCALZO has made 0 purchases and 5 sales selling 413,574 shares for an estimated $14,938,784.
- BRIAN K. RATZAN has made 0 purchases and 4 sales selling 150,000 shares for an estimated $5,497,582.
- TIMOTHY RICHARD KRAFT (Chf Legal & Corp. Affairs Of.) has made 0 purchases and 2 sales selling 97,970 shares for an estimated $3,660,412.
- TIMOTHY ALLEN MATTHEWS (VP, Controller and CAO) sold 5,325 shares for an estimated $198,689
- ROBERT G. MONTGOMERY sold 2,500 shares for an estimated $91,024
- STUART E. JR. HEFLIN (SVP & General Manager, Quest) sold 1,058 shares for an estimated $36,437
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SMPL Hedge Fund Activity
We have seen 124 institutional investors add shares of $SMPL stock to their portfolio, and 138 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SILVERCREST ASSET MANAGEMENT GROUP LLC removed 1,992,876 shares (-51.4%) from their portfolio in Q3 2024, for an estimated $69,292,298
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 1,873,080 shares (+54.7%) to their portfolio in Q3 2024, for an estimated $65,126,991
- WOODLINE PARTNERS LP added 1,651,143 shares (+943.8%) to their portfolio in Q3 2024, for an estimated $57,410,242
- LOOMIS SAYLES & CO L P removed 1,624,976 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $56,500,415
- BALYASNY ASSET MANAGEMENT L.P. removed 1,373,648 shares (-99.0%) from their portfolio in Q3 2024, for an estimated $47,761,740
- NEUBERGER BERMAN GROUP LLC removed 1,239,866 shares (-97.9%) from their portfolio in Q3 2024, for an estimated $43,110,140
- INVESCO LTD. removed 1,186,017 shares (-75.2%) from their portfolio in Q3 2024, for an estimated $41,237,811
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Full Release
DENVER, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (Nasdaq: SMPL) (“Simply Good Foods,” or the “Company”), a developer, marketer and seller of branded nutritional products under the Quest, Atkins and OWYN brands, today announced a Chief Financial Officer (“CFO”) succession plan.
Shaun P. Mara, CFO, has announced his decision to retire effective July 3, 2025. Mara has served in a variety of roles with the Company since 2017, including as CFO since 2022. Christopher J. Bealer will join the Company on April 1, 2025, as Senior Vice President of Finance, and is expected to succeed Mara as CFO upon Mara’s retirement. Bealer will report to President and Chief Executive Officer Geoff E. Tanner.
Bealer has almost 23 years of experience in consumer packaged goods and consumer durables in North America and Global markets. In his most recent executive leadership position as EVP Corporate Controller at Reckitt Benckiser Group PLC (“Reckitt”), Bealer leads a global team of over 600 employees accountable for global controls, financial shared services, group reporting and accounting, as well as leading the functional operating model transformation. Prior to his current and prior roles at Reckitt, Bealer served as Regional CFO for Whirlpool Corporation for both the North American and Europe, Middle East and Africa (EMEA) businesses. Earlier in his career, Bealer also held finance roles with increasing responsibilities at Big Heart Pet Brands, Del Monte Foods, and H.J. Heinz Company.
Addressing Mara’s pending retirement, Tanner said, “Shaun has been an instrumental partner to me in my first eighteen months as CEO, as both a strategic thought partner and phenomenal financial executive, and I wish him continued success in retirement. In addition, I am excited to welcome Chris to Simply Good Foods and to leverage his unique experience and leadership. Like Shaun, Chris brings extensive financial, strategic, and operating experience, and I am confident our detailed transition plan over the coming months will position both Chris and Simply Good Foods for success.”
James M. Kilts, Chairman of the Board, added, “Shaun’s leadership through the chapters of Simply Good Foods’ evolution has been instrumental in getting us to where we are today. We are poised for future success thanks to Shaun’s contributions, and we thank him for his continued leadership and support in facilitating a seamless transition.” Kilts continued, “We are pleased to welcome Chris following a thoughtful succession planning process to identify Simply Good Foods’ next CFO. Dave West, Geoff Tanner and I know Chris quite well from our work together at Del Monte Foods, where Chris was a key member of the senior leadership team that created Big Heart Pet Brands. Chris then worked closely with Dave and Geoff to drive world class performance in the Big Heart Pet Brands business. The Board is excited that Chris will be key member of the management team to continue Simply Good Foods’ future growth and financial stewardship.”
About The Simply Good Foods Company
The Simply Good Foods Company (Nasdaq: SMPL), headquartered in Denver, Colorado, is a consumer packaged food and beverage company with an ambitious goal to raise the bar on what food can be with trusted brands and innovative products. Our product portfolio consists primarily of protein bars, ready-to-drink (RTD) protein shakes, sweet and salty snacks, and confectionery products marketed under the Quest, Atkins, and OWYN brands. We are a company that aims to lead the nutritious snacking movement and is poised to expand our healthy lifestyle platform through innovation, organic growth, and investment opportunities in the “better for you” food space. To learn more, visit
thesimplygoodfoodscompany.com
.
Investor Contacts
Mark Pogharian
Vice President, Investor Relations, Treasury and Business Development
The Simply Good Foods Company
[email protected]
Josh Levine
Vice President, Investor Relations and Treasury
(effective February 1, 2025)
The Simply Good Foods Company
[email protected]
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 you that these forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. You should not place undue reliance 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 risks and uncertainties relate to, among other things, our ability to achieve our estimates of OWYN’s net sales and Adjusted EBITDA and our anticipated synergies from the OWYN Acquisition, our net leverage ratio post-acquisition, our Adjusted EPS post-acquisition, our ability to maintain OWYN personnel and effectively integrate OWYN, our operations being dependent on changes in consumer preferences and purchasing habits regarding our products, a global supply chain and effects of supply chain constraints and inflationary pressure on us and our contract manufacturers, our ability to continue to operate at a profit or to maintain our margins, the effect pandemics or other global disruptions on our business, financial condition and results of operations, the sufficiency of our sources of liquidity and capital, our ability to maintain current operation levels and implement our growth strategies, 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 including changes regarding inflation and increasing ingredient and packaging costs and labor challenges at our contract manufacturers and third party logistics providers, the amounts of or changes with respect to certain anticipated raw materials and other costs, difficulties and delays in achieving the synergies and cost savings in connection with acquisitions, changes in the business environment in which we operate including general financial, economic, capital market, regulatory and geopolitical conditions affecting us and the industry in which we operate, 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, potential for increased costs and harm to our business resulting from unauthorized access of the information technology systems we use in our business, 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.