Dive Brief:
- ConAgra has named David Marberger as executive vice president and CFO, effective Aug. 29.
- He is taking the place of current CFO John Gehring, who will retire in September.
- Marberger is currently CFO of Prestige Brands, an over-the-counter health care products manufacturer. Prior to that role, Marberger served as CFO of Godiva Chocolatier and Tasty Baking Co., in addition to a decade spent in various finance-related positions at Campbell.
Dive Insight:
This is the second recent instance of a major food company appointing an executive with a background in the health industry. Last month, Nestle named Ulf Mark Schneider, CEO of healthcare provider Fresenius, as successor for Paul Bulcke, who will assume the role of chairman next year. For Nestle, the move aligned with its commitment to becoming a scientifically driven nutrition, health and wellness company.
ConAgra, however, doesn't have the clout in the "healthy" foods space that Nestle does. Its total market share currently includes brands like Blake's All Natural Foods, which ConAgra acquired last year, and Healthy Choice. But Marberger's appointment could demonstrate that as ConAgra continues its pursuit to become more focused on consumer brands, healthy products may play a larger role in its portfolio. And with a former healthcare exec in the CFO role, that could potentially mean acquisitions in the better-for-you space.
ConAgra has been aggressive in its company overhaul, having formally confirmed the spinoff of its Lamb Weston business earlier this week. Over the past year, it has divested or announcing the divestments of other units, such as private label brands, Spicetec and JM Swank. If better-for-you products do become more of a focus, ConAgra could shed underperforming brands that don't align with that strategy.