Simply Good Foods Company (NASDAQ: SMPL) announced cost savings initiatives and leadership restructuring aimed at streamlining operations and reducing overhead costs.

The company expects to generate approximately $17 million in annual savings through these measures, which will impact about 15% of overall staffing levels. The initiatives focus on simplifying organizational structure, accelerating decision-making processes, and reducing fixed overhead costs.

"We have taken a clear-eyed assessment of the business to identify areas for enhancing our performance to set a foundation for a go-forward model to return the business to a compelling growth trajectory," said Joe Scalzo, President and Chief Executive Officer.

As part of the reorganization, several executive leadership changes take effect immediately. Timothy Kraft has been promoted from Chief Legal and Corporate Development Officer to Chief Administrative Officer, expanding his oversight to include legal, risk, compliance, human resources, mergers and acquisitions, and nutrition functions.

Jessica Morgan moves from VP Deputy General Counsel & Corporate Affairs to SVP, Deputy General Counsel and Head of People, reporting to Kraft. Emily Johnston advances from VP of Marketing for Quest to SVP of Quest Marketing to lead the brand's marketing activities.

Kathy Kelley transitions from VP of Logistics to SVP of Operations, taking leadership of the company's supply chain function. Amy Held, Chief Human Resources Officer, will step down and depart by June 1, 2026, following a transition period. Jason Bendure, current Chief Supply Chain Officer, will work on strategic projects before separating from the company.

The Denver-based company operates in the nutritional snacking category with brands including Quest, Atkins, and OWYN. The cost reduction measures were included in the company's most recent financial outlook, according to the statement.