Dairy and soy products giant Dean Foods Company, Dallas, said Joseph E. Scalzo, 52, president and chief operating officer, left the company February 25 for undisclosed reasons. The company said Chairman and Chief Executive Officer Gregg Engles assumed Scalzo's operating responsibilities and executives previously reporting to Scalzo now report to Engles. Dean said it does not intend to replace Scalzo.
"I want to thank Joe for his many contributions to Dean Foods," said Engles."Joe was instrumental in building the WhiteWave platform into a single winning company, and recruited and developed exceptional talent. We wish Joe well in his future endeavors as he pursues opportunities to lead a consumer packaged goods company."
Engles continued, "It has become clear to the Board, me and Joe that Dean Foods will be best served by a new structure that can move decisively and quickly to execute our strategy while maintaining an extremely tight rein on costs.
"We expect to finish out our initial $300 million cost reduction program by achieving the final $125 million or better of savings across the supply chain in 2011. Additionally, we are aggressively attacking cost at the center, with a goal of reducing our SG&A run rate by at least $30 million by year end 2011. Dean Foods has a bright future and I am confident we will deliver for shareholders, customers and our employees."
Scalzo exits as Dean Foods' president, COO
March 2, 2011