Prepared meats and sandwich processorPierre Foods Inc., Cincinnati, said it successfully emerged from Chapter 11 bankruptcy reorganization and that it hiredWilliam Toleras chief executive officer. A 25-year-plus industry veteran, Toler succeeds Norbert Woodhams, who has retired. Toler most recently served as president at Pinnacle Foods, Mountain Lakes, N.J. His career also includes posts at Aurora Foods, Campbell Soup, Nabisco, Reckitt & Colman and Procter & Gamble.
"In only five months, the company has effectively addressed its financial and operational challenges and laid a strong foundation for its future," said Toler. "The expeditious restructuring of Pierre is a testament to its loyal employees, dedicated customers and vendors and the strong relationship we have with our new sponsor, Oaktree Capital Management."
Pierre Foods' new board of directors includes Toler, Steven Kaplan (as chairman) and Matthew Wilson. The company expects to name two additional members in the near future.