Dive Brief:
- Gary Rodkin, the 62-year old chief executive officer of ConAgra, says he'll retire in May, 2015.
- Rodkin's announcement comes as Wall Street grows inpatient with the Omaha-based company following a series of poor earnings reports.
- ConAgra's search for a new leader comes as the company continues to struggle to digest Ralcorp Holdings, the maker of private-label foods that ConAgra purchased last year.
Dive Insight:
Rodkin has been at the helm of ConAgra since 2005. And in that time a number of things have happened worth noting.
First and foremost is the acquisition of Ralcorp. That $5 billion purchase will be part of Rodkin's legacy. And unless things turn around in the next few months, it won't be a highlight.
Second, and more importantly, the past nine years have seen a deep, systemic change in how folks, particularly those in Gen Y, and younger, eat in the U.S. We're becoming a nation that tends to shun GMO, canned foods, processed foods, frozen foods and the like. And there's probably no other company in the country that's still as tied to the eating habits of aging baby boomers as is the maker of brands such as Chef Boyardee, Healthy Choices, Reddi-wip, Swiss Miss, Pam, Banquet, Jiffy Pop, et al.