CFO COCROFT TO LEAVE MULTIFOODS.MINNEAPOLIS--(BUSINESS WIRE)--Nov. 15, 1996--International Multifoods Corp. (NYSE NYSE See: New York Stock Exchange : IMC (Internet Mail Consortium, Santa Cruz, CA, www.imc.org) An industry trade association founded in 1996 by Paul Hoffman and Dave Crocker that promotes Internet e-mail standards and features. ) today announced that Duncan H. Cocroft, vice president, finance, and chief financial officer, is leaving the company to pursue other interests. Robert M. Price
Robert McNair Price (born July 7, 1954 in Mississippi) is a Professor of Theology and Scriptural Studies at the Johnnie Colemon Theological Seminary in Miami Gardens, Florida. , Multifoods chairman and chief executive officer, said a search for a successor to Cocroft is under way. "Duncan Cocroft has been a member of the Multifoods management team since 1990," Price said. "He developed financing strategies, oversaw the rapid growth of the company's food exporting business and helped to manage operations through the recent management transition at VSA VSA (in New Zealand) Voluntary Service Abroad . We wish him well as he moves forward in his career." "One of my top priorities is to build a strong management team that can help Multifoods deliver superior financial performance and create value for all its stakeholders," said Gary E. Costley, chairman, president and CEO-elect of Multifoods. "With the departure of Duncan Cocroft, the addition of a new CFO See Chief Financial Officer. will be an important step in achieving this objective." Until a new CFO is identified, executives heading the company's financial reporting, treasury, investor relations and audit functions will report to the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Robert S. Wright, president, Bakery Segment, will assume responsibility for the company's food exporting business. Prior to joining Multifoods in May 1990, Cocroft, 52, was vice president and treasurer at Smithkline Beckman and Smithkline Beecham subsequent to its 1989 merger with Beecham, a United Kingdom pharmaceutical company. From 1979 to 1987, Cocroft served as vice president and treasurer of PHH Corporation, a Baltimore, Md., service and leasing company. He also worked as an assistant treasurer for the Marriott Corporation. Cocroft received his bachelor's degree in economics from the Wharton School of Management at the University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. . Minneapolis-based Multifoods operates in three businesses: foodservice distribution in the United States; bakery products in the United States and Canada; and bakery, consumer and agricultural products in Venezuela. CONTACT: Jill Schmidt (media) (612) 340-3755 or Tony Brausen (investors) (612) 340-3621 |
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