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Diving overview:
- Simply Good Foods, said Joe Scalzo. He will return as president and CEO as Atkins and Quest owners seek to improve profitability.
- Scalzo, who previously held the position of CEO from 2017 to 2023, will assume the position immediately. He succeeds Geoff Tanner, who joins Simply Good Foods after nearly seven years at JM Smucker.
- Scalzo, a maker of protein shakes and snacks, said it brings “instant familiarity with the company” and its vision to “lead the modern nutritional snack platform.”
Dive Insights:
The switch comes as Simply Good Foods declines in its Atkins brand. The brand, known for promoting low-carb diets, has seen its reputation decline while its GLP-1 drugs for weight loss are on the rise.
Atkins sales fell 16.5% in the most recent quarter. Simply Good saw some growth in its protein-focused Quest brand, but not enough to offset Atkins’ decline. Overall net sales for the first quarter were flat at $340.2 million.
Simply Good joins a growing number of food companies that have rehired former CEOs, including: boston beer and Hormel.
Simply Good acknowledged “substantial value creation” during Scalzo’s first tenure, overseeing Scalzo’s public market entry and acquisitions. quest nutrition $1 billion in 2019.
In a press release, Scalzo said he has a clear view of the company’s mission to be a leader in innovation and product quality.
“I have tremendous faith in the proven power of this platform and its potential to remain at the forefront of the nutritional snacks market,” said Scalzo.
In addition to his time as CEO, Scalzo also served as executive vice chairman until August 2024. He will be appointed to the company’s board of directors at its annual meeting on January 28.
