Nellson Nutraceutical, LLC ("Nellson"), a manufacturer of nutritional products and fortified snacks, today announced that Allan Lutz was named Chief Executive Officer of the company and Ted Schouten was promoted to Chief Operating Officer.
Mr. Lutz, who was named interim Chief Executive Officer in March, has more than 25 years of food industry management experience. Prior to joining Nellson, he was President and Chief Operating Officer for the foodservice division of ConAgra Foods, where he had responsibility for the unit's $3.6 billion portfolio of branded and customized food products. Mr. Lutz was named to the Nellson board of directors in March.
"Since joining the company earlier this year, Allan has done an outstanding job," said Scott Meader, Chairman of the Board of Directors of Nellson. "The Nellson team has great momentum. It has strengthened relationships with customers and suppliers and set the stage for greater growth and sustained profitability. We are very pleased to have Allan as CEO and look forward to continuing to work with him to build on the company's leading market position."
Mr. Lutz said: "We have made excellent progress at Nellson, and the company is in a strong position today, thanks to the support of our investors, customers, suppliers and employees. We are opening new market segments, and we see excellent potential to expand our business. Most important, we have a strong balance sheet and cash flow to support the company's growth."
Mr. Schouten is currently Executive Vice President / Chief Financial Officer for Nellson and will retain his CFO duties in addition to assuming new responsibilities as Chief Operating Officer. Mr. Schouten joined Nellson in May 2005 from Electronic Arts, a $3 billion interactive entertainment software company, where he served as Chief Financial Officer European Publishing, then Chief Operating Officer for Electronic Arts Los Angeles.
"Ted is a highly experienced executive who has made an outstanding contribution to Nellson," Mr. Lutz said. "His expertise and leadership will help us continue to improve the company's operating efficiency and implement our growth initiatives."
About Nellson Nutraceutical, LLC
Nellson Nutraceutical, LLC, headquartered in Irwindale, California, is a leading formulator and manufacturer of functional bars and powders designed to deliver customized nutrition to serve specific purposes such as diet/weight loss, energy/sports, bodybuilding, and wellness/medical. Nellson is a partner to many of the foremost marketers of these products. Nellson is a private company, and its principal shareholders include Goldman Sachs, Barclays, Citigroup and GE Capital.
Mr. Schouten joined Nellson in 2005 from Electronic Arts, where he served as Chief Financial Officer European Publishing and, later, Chief Operating Officer Electronic Arts Los Angeles. From 1985 to 2000 Mr. Schouten was with Sara Lee Corporation where he served in various executive capacities in the Bakery divisions including Vice President, Finance. Mr. Schouten began his career at General Electric in Finance. He holds a BComm. degree from the University of Saskatchewan and an MBA from the University of Toronto.