ConAgra Foods (CAG) Announces Retirement of CFO Gehring; FY16 EPS Outlook Reaffirmed

ConAgra Foods, Inc. (NYSE: CAG) announced that its executive vice president and chief financial officer, John Gehring, will retire after 14 years of service with the company. Gehring will remain in his current role until a successor has been named and will assist with an orderly transition. The company has initiated a search to identify a replacement for Gehring.

“We are grateful for John’s many years of distinguished service to our company,” said Sean Connolly, president and chief executive officer, ConAgra Foods. “He has been an outstanding CFO, leader and friend. We wish him the best of luck in his next chapter.”

Gehring added, “I am honored to have had the opportunity to serve as CFO during such an important period for ConAgra Foods. This has been the most professionally rewarding experience of my career and I am proud of all that we have accomplished together over the past 14 years. Looking ahead, I am confident that Sean and the rest of the talented leadership team have positioned the company to win over the long-term and create value for all stakeholders.”

Gehring joined the company in 2002, and assumed the role of executive vice president and chief financial officer in early 2009. Before joining ConAgra Foods, John was a partner with Ernst & Young. He also held auditing positions with PepsiCo and KPMG.

The company reaffirms its full-year fiscal 2016 EPS guidance of $2.05-$2.07 from continuing operations, adjusted for items impacting comparability..

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