010826 ConAgra Foods Restructuring

Omaha, NE - ConAgra Foods Inc. said it is organizing its retail food operations under one umbrella.

The company named F. Martin Thrasher as president of ConAgra Retail Food Products Co. The newly created position will have responsibility for the company's consumer, shelf-stable grocery products, refrigerated prepared foods, dairy products and frozen prepared foods.

Thrasher, 50, held a series of leadership positions with the Campbell Soup Co. before joining ConAgra Foods.

To alleviate any near-term competitive issues, Campbell and ConAgra Foods have reached an agreement governing certain product lines.

ConAgra Foods will maintain a stand-alone business unit for one year to manage products that could be considered competitive with Campbell, including the Chef Boyardee and Homestyle brands. The affected product lines represent approximately 5% of ConAgra Foods' retail sales.

ConAgra is the nation's largest food service manufacturer and second largest retail food supplier.

Its brand names include Healthy Choice, Hunt's tomato products, Banquet meals and Armour meats.

RETURN TO HOME PAGE

E-mail: sflanagan@sprintmail.com