Dive Brief:
- Simply Good Foods said Joe Scalzo will return as its president and CEO as the Atkins and Quest owner looks to improve profitability.
- Scalzo, who formerly held the top executive role from 2017 to 2023, is assuming the position immediately. He succeeds Geoff Tanner, who joined Simply Good Foods after a nearly seven-year tenure at J.M. Smucker.
- The protein shake and snack maker said Scalzo brings “immediate familiarity with the company” and a vision to “lead a modern nutritional snacking platform.”
Dive Insight:
The switchup comes as Simply Good Foods has seen declines at its Atkins brand. Known for promoting a low-carbohydrate diet, the brand has slipped from prominence while GLP-1 medications for weight loss have been on the rise.
Atkins sales declined 16.5% in the most recent quarter. Though Simply Good has seen some growth from its protein-focused Quest brand, it hasn’t been enough to offset the decline from Atkins. Overall net sales for the first quarter were flat at $340.2 million.
Simply Good joins a growing number of food companies that have rehired a former CEO, including Boston Beer and Hormel.
Simply Good credited Scalzo with "substantial value creation" during his first tenure, overseeing the company's entry into public markets and the acquisition of Quest Nutrition for $1 billion in 2019.
In the release, Scalzo said he had a clear view of the company’s mission to be a leader in innovation and product quality.
“I have tremendous belief in the proven power of this platform and in its potential to stay on the leading edge of the nutritional snacking landscape,” Scalzo said.
In addition to his time as CEO, Scalzo also held the executive vice chairman position until August 2024. He will be appointed to the company’s board of directors at its annual meeting on Jan. 28.
