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
312-549-5257
Michael.Cummins@conagra.com
INVESTORS: Brian Kearney
312-549-5002
IR@conagra.com
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SOURCE Conagra Brands, Inc.