Meat Industry INSIGHTS Newsletter

980520 CFP Holdings Inc. Names William Del Chiaro President and CEO

May 11, 1998

Montebello, CA - CFP Holdings Inc. Monday announced that William G. Del Chiaro has been named president and chief executive officer of the company, responsible for both the Quality Foods and Custom Food Products divisions.

Del Chiaro will also become a member of the board of directors of Custom Food Products, in addition to his current board positions at Quality Foods, CFP Holdings and its parent company, CFP Group Inc.

Concurrent with Del Chiaro's appointment, Robert Gioia, previously president and chief executive officer of CFP Holdings, will assume additional responsibilities at First Atlantic Capital, an affiliate of the majority owner of CFP Group, and will retain his position on the board of directors.

In addition, Richard W. Griffith will retire from his current position as president and chief executive officer of Custom Food Products on June 30, 1998, while continuing in his position on the board of directors and transitioning key customer relationships with Arby's and Chef America.

“Bill has made an immediate and positive impact on our business and we are confident that he will continue to excel as he takes on a larger role,” said Gioia.

“Robert and Rick have contributed greatly to the success of the business, and will continue to be valuable resources in the future,” said Del Chiaro. “The company has a strong management team in place, and we look forward to continuing to improve operating performance at both Quality Foods and Custom Foods, leveraging the strengths of each business, and achieving our growth projections in the years to come.”

Del Chiaro joined CFP as president and chief executive officer of its Quality Foods division in March 1998. He was previously executive vice president of Sara Lee Corp.'s Hillshire Farm & Kahn's division, a $1 billion manufacturer of processed and packaged meats for the retail grocery, foodservice and other markets. There he was responsible for a substantial portion of the business' operations, capital expenditures, sales and marketing.

Prior to this position, Del Chiaro spent 10 years as a senior executive of Mars Inc., where he held top- level marketing and sales positions in the Uncle Ben's, Dove International, M&M/Mars and foodservice divisions. His experience also includes three years as director of marketing of Dr. Pepper Co.'s foodservice division, as well as various positions of increasing responsibility during a seven-year career at Procter & Gamble Co.

CFP Holdings is a leading developer, manufacturer and marketer of value-added meat and poultry products sold to the foodservice industry and manufacturers of packaged foods.

This Article Compliments of...

Iotron Technology Inc.

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