Yahoo Finance Dean Foods Declares Management Change, Appoints New EVP - Analyst Blog
Dean Foods Company (DF) has appointed Marc L. Kesselman as Executive Vice President (EVP), General Counsel, Corporate Secretary & Government Affairs. Kesselman will join the company on Jan 26, 2015 and report to Chief Executive Officer, Gregg A. Tanner.
Having worked with various government departments and companies overlooking their legal and regulatory issues, Kesselman possesses tangible experience in handling legal affairs. Dean Foods expects to gain from his profound knowledge in corporate law and high-level experience with government departments.
Kesselman has most recently worked with PepsiCo Inc. (PEP) as the Senior Vice President and General Counsel of Frito-Lay North America and PepsiCo's food businesses in North and South America. During his tenure at PepsiCo, Kesselman managed numerous commercial, transactional, litigation, regulatory and government affairs issues.
Prior to this, Kesselman served as the United States Department of Agriculture’s General Counsel. During his service in the department, he acted as an advisory to the Secretary of Agriculture and overlooked all legal actions of the Department.
Other than these, Kesselman has also served as the Deputy General Counsel in the White House Office of Management and Budget; Senior Counsel in the Office of Legal Policy and Trial Attorney in the Civil Division at the United States Department of Justice; and attorney in the Washington, DC office of Ropes & Gray.
He had started his legal career as a Law Clerk for Honorable Julia S. Gibbons and later went on to become the Chief Judge of the U.S. District Court for the Western District of Tennessee.
Kesselman has also been honored with the John Marshall Award, the Department of Justice's highest award for trial of litigation.
Meanwhile, this Zacks Rank #2 (Buy) company is on track to revive its business as evident from its third-quarter 2014 earnings results, wherein it posted narrower-than-expected loss driven by the success of its business efforts, despite a tough dairy commodity environment.
Dean Foods reported an adjusted loss of 3 cents per share from continuing operations contrary to adjusted earnings of 12 cents in the year-ago comparable quarter. However, it fared better than the Zacks Consensus Estimate of a loss of 12 cents.
Additionally, the company is optimistic about the fourth quarter as its strategic initiatives, including price realization, cost productivity and volumes at high margins are expected to deliver appropriate returns.
Other Stocks to Consider
Better-ranked stocks in the food industry include SUPERVALU Inc. (SVU), sporting a Zacks Rank #1 (Strong Buy), and Sysco Corp. (SYY), carrying a Zacks Rank #2.
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DEAN FOODS CO (DF): Free Stock Analysis Report
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