William Stiritz named Post Holdings CEO
ST. LOUIS — A few months after announcing the spinoff of its Post Foods business, Ralcorp Holdings has appointed a new leader for the cereal producer.
Ralcorp chairman William Stiritz will serve as CEO of Post Holdings. Stiritz also will serve as board chairman for Post Holdings, Ralcorp said.
"I am excited to lead Post forward and strongly believe in its future as an independent public company," he said. "As we work through the separation process, we continue to plan for the future of Post, including its strategy, financing, marketing and other core corporate functions necessary to succeed. We remain fully committed to growing the brand and taking the steps necessary to create enhanced shareholder value."
In related news, Ralcorp also announced that James Holbrook will join Post Holdings as EVP marketing, effective Oct. 3.
As previously reported by Drug Store News, Ralcorp’s board unanimously agreed in principle to separate Ralcorp and Post Foods in a tax-free spinoff to Ralcorp shareholders. Ralcorp shareholders will hold shares of two stand-alone, publicly traded companies: Ralcorp and Post Foods.
Mars announces collaboration with Fairtrade International
MT. OLIVE, N.J., and BONN, Del. — Mars Chocolate and Fairtrade International will introduce the first Fairtrade-labeled Mars product.
As part of the collaboration, the first Mars product to carry the Fairtrade mark will be Maltesers, which will arrive in U.K. and Ireland stores in 2012. This initial phase of the agreement will contribute more than $1 million annually in Fairtrade premium funds for cocoa farmers to invest in their farms, business organizations and communities.
"This agreement is a big step towards fulfilling our shared mission to empower farmers to build vibrant, sustainable livelihoods, and we’re very excited to work with Fairtrade on ways to enable commodity certification to scale across the entire industry," Mars Global Chocolate VP Barry Parkin said. "This commitment is our recognition of Fairtrade’s history of dedication to smallholder farmers and their efforts to enable farmer productivity and income improvements."
Pepsi’s latest ad chock full of music artists
PURCHASE, N.Y. — Pepsi unveiled its latest television ad, which celebrates the brand’s rich music history, during the premiere of Fox’s "The X Factor."
The "Music Icons" spot, which features global icons Michael Jackson, Britney Spears, Kanye West, Ray Charles and Mariah Carey, was in line with the concept of "The X Factor," which is to search for the next pop music star. The spot also featured the following slogan: "where there’s Pepsi, there’s music."
"Pepsi has always been at the center of music and pop culture and is known for featuring top talent in its campaigns," PepsiCo Beverages chief marketing officer of global consumer engagement Frank Cooper said. "We’re confident that the next pop music star will emerge from our partnership with The X Factor."