Irwindale , CA – September 2, 2008 – Nellson Nutraceutical, LLC (“Nellson”) announced today that Allan Lutz was named Chief Executive Officer of the company and Ted Schouten was promoted to Chief Operating Officer. Mr. Lutz, who was named interim Chief Executive Officer in March, has more than 25 years of food industry management experience. Prior to joining Nellson, he was President and Chief Operating Officer for the foodservice division of ConAgra Foods, where he had responsibility for the unit’s $3.6 billion portfolio of branded and customized food products. Mr. Lutz was named to the Nellson board of directors in March. “We have made excellent progress at Nellson, and the company is in a strong position today, thanks to the support of our investors, customers, suppliers and employees,” Mr. Lutz said. “We are opening new market segments, and we see excellent potential to expand our business. Most important, we have a strong balance sheet and cash flow to support the company’s growth.” Mr. Schouten is currently Executive Vice President / Chief Financial Officer for Nellson and will retain his CFO duties in addition to assuming new responsibilities as Chief Operating Officer. Mr. Schouten joined Nellson in May 2005 from Electronic Arts, a $3 billion interactive entertainment software company, where he served as Chief Financial Officer European Publishing, then Chief Operating Officer for Electronic Arts Los Angeles. “Ted is a highly experienced executive who has made an outstanding contribution to Nellson,” Mr. Lutz said. “His expertise and leadership will help us continue to improve the company’s operating efficiency and implement our growth initiatives. Both Ted and I look forward to continuing Nellson’s growth by addressing the needs of our customers and working successfully with our suppliers and business partners.” |