KANSAS CITY, Mo. — The man who effectively rescued the Hostess snack brand and others from extinction is stepping away from the snack company.
Dean Metropoulos has notified Hostess Brands Inc. that he will resign from the company’s board of directors at the end of 2020 to pursue other commitments. Current independent director Jerry Kaminski has been appointed chairman of the board effective immediately.
“Transforming Hostess into one of the premier branded CPG companies in the industry, initially as CEO and recently as chairman, has been very successful,” said Metropoulos. “Over the past two years, the management team has built a strong foundation and is positioned for continued industry leading revenue growth at industry leading margins, following the successful Voortman acquisition to build value."
Metropoulos and his company C. Dean Metropoulos & Co., Greenwich, Conn., partnered with Apollo Global Management LLC, New York, to rescue Hostess from bankruptcy in 2013. He served as the company's president and CEO until 2018.
Metropoulos & Co. is a merchant banking and management firm focused on the food and consumer sectors. Along with Hostess, major investments include Pabst Brewing Co., Pinnacle Foods, Aurora Foods, Stella Foods, The Morningstar Group, International Home Foods and Ghirardelli Chocolates, among others.
“On behalf of our board of directors and management team, I would like to thank Dean for his vast contributions to Hostess,” said Andy Callahan, Hostess Brands' president and CEO. “He has provided extraordinary leadership, both through taking the company public and continuing to offer keen business insight. When he fully transitions away from his board membership at the end of the year, he will leave an enviable legacy at Hostess, as he has played an essential role in helping us become the company we are today.”
New chairman, Kaminski, has served on Hostess’ board of directors since November 2016 and is currently executive vice president and chief operating officer at Land O’Lakes Inc., where he has served in various roles since 2012. Kaminski was chosen to step into the chairman role because of his global experience in the consumer packaged goods industry and the strong leadership he has demonstrated while serving on the board thus far, Hostess said.
Kansas City, Mo.-based Hostess Brands Inc. produces a variety of treats, including Twinkies, CupCakes, Donettes, Ding Dongs, Zingers and more.