February 2, 2017 – The McAulay Smith Firm has placed Alexander Pease as executive vice president and chief financial officer of Snyder’s-Lance, Inc. He replaced Rick Puckett, who left his role in November. President Steven Smith lead the assignment.
Mr. Pease joins the company from McKinsey & Co., bringing significant financial expertise and cross industry experience to the Snyder’s-Lance organization. At McKinsey, he was a leader in the firm’s global corporate finance and business functions practice working with leading CFOs across a wide range of industries, helping their companies build shareholder value by strengthening their balance sheet, improving returns on invested capital and raising operating margins.
Mr. Pease has deep expertise in zero based budgeting, business process improvement, broad based productivity transformation, treasury, and strategic buy and sell-side transactions. In addition, he has significant expertise in enterprise risk management and international growth.
Mr. Pease held the position of SVP and CFO of EnPro Industries, a diversified, multi-industrial equipment manufacturer with significant sales into the agricultural, food and pharmaceutical, other industrial end-markets. In this capacity, he also had responsibility for global supply chain, information technology, strategy and M&A.
“We are fortunate to attract a candidate with the broad financial experience, organizational skills, and unparalleled leadership that Alex brings to the table,” said Carl E. Lee Jr., president and chief executive officer of Snyder’s-Lance. “We plan to leverage Alex’s deep expertise in financial leadership to expand our initiatives to build shareholder value. His proven track record in driving substantial cost reductions and process improvements as both a hands-on executive and an advisor will further support our ongoing margin enhancement initiatives and drive our financial returns.”
“His experience having both been a CFO, and having advised CFOs as a McKinsey partner, has prepared him to help us expedite the execution of our strategic plan,” Mr. Lee added. “We look forward to Alex’s contributions and we are excited to have him join our team.”
Snyder’s-Lance is at an exciting point in its evolution, “as it positions itself as the leading better-for-you snack company in the market,” said Mr. Pease. “This, combined with an exceptional track record of growth, disciplined capital allocation, and ongoing performance improvement creates a remarkable opportunity.”
While at McKinsey, Mr. Pease said he developed a passion for helping clients drive cutting edge innovations in back office efficiency, pursue advanced analytic techniques to optimize performance and develop world class plans to unlock growth. “I am thrilled to be able to bring this passion to Snyder’s-Lance.”
Snyder’s-Lance manufactures and markets snack foods throughout the U.S. and internationally. Its products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, popcorn, nuts and other snacks. Products are sold under the Snyder’s of Hanover, Lance, Kettle Brand, KETTLE Chips, Cape Cod, Snack Factory, Pretzel Crisps, Pop Secret, Emerald, Diamond of California, Late July, Krunchers!, Tom’s, Archway, Jays, Stella D’oro, Eatsmart Snacks, O-Ke-Doke, and other brand names along with a number of third party brands.
The McAulay Smith Firm is an executive search firm headquartered in Charlotte, NC, with specialty practices in energy (electric utilities, nuclear), industrial (manufacturing, industrial services), and other diversified industries. Established in 1995, it has completed hundreds of engagements for more than 225 client companies in 30 states and nine countries, representing more than 70 industries. In related searches, the firm filled the general counsel and chief human resources officer (CHRO) roles for Snyder’s-Lance.
“It has been an extreme pleasure and honor working with one of the leading snack food manufacturers in the United States as it continues to grow domestically and internationally,” said Mr. Smith.
Mr. Smith has successfully led executive search engagements for Fortune 500 and middle market companies in a wide variety of geographies and industries, including banking, wealth management, insurance, private equity, family offices, manufacturing, energy, nuclear power, aerospace, real estate, foundations, and not-for-profits.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media