New CEO for American Italian Pasta
American Italian Pasta Co. has hired Jack Kelly, a 30-year food industry veteran, to eventually take over as president and chief executive officer, the Associated Press reports. Kelly, who has served as CEO at privately held Fiorucci Foods Inc. and San Antonio Farms, will initially serve as chief operating officer until the Kansas City-based maker of Mueller''s, Mrs. Grass, Pennsylvania Dutch, Anthony''s and other dry pasta labels completes restating years of financial reports. Kelly has also held senior management positions at Haagen-Dazs Company Inc., Kraft Foods Inc. and Oscar Mayer Foods Corp. He will replace Jim Fogarty, a managing director with turnaround firm Alvarez & Marsal, which was hired in September 2005 after American Italian Pasta announced it had to withhold financial reports because of internal investigations into accounting problems. It eventually restated earnings going back to 2000 and has yet to release restated earnings for 2005 and 2006.