ST. LOUIS, Jan. 13, 2012/PRNewswire/ -- Ralcorp Holdings, Inc. (NYSE: RAH) today announced the composition of the Boards of Directors of Ralcorp Holdings, Inc. and of Post Holdings, Inc., following the planned separation of the Post cereal business from Ralcorp.
Once the separation is complete, the following individuals will serve on the Boards of Directors of Ralcorp and Post:
Ralcorp Holdings, Inc. | Post Holdings, Inc. |
- J. Patrick Mulcahy, Chairman | - William P. Stiritz, Chairman |
- Benjamin Ola. Akande | - David R. Banks |
- Bill G. Armstrong | - Terence E. Block |
- Jonathan E. Baum | - Jay W. Brown |
- Barry H. Beracha | - Edwin H. Callison |
- Kevin J. Hunt | - Gregory L. Curl |
- David W. Kemper | - William H. Danforth |
- Patrick J. Moore | - Robert E. Grote |
- David R. Wenzel | - David P. Skarie |
"We are very excited to have such an experienced and talented group of individuals to lead Ralcorp and Post as each company moves forward independently," said William P. Stiritz, Chairman of the Ralcorp Board of Directors. "These directors have proven track records of success, and we are confident that their leadership and expertise, along with the commitment and passion they share for the businesses, will result in significant value for our shareholders."
"As Ralcorp and Post move forward with the separation, the composition of these boards represents a significant milestone in becoming independent companies," said J. Patrick Mulcahy, Ralcorp's Vice Chairman. "We thank our current and departing directors for their many years of service to Ralcorp and we welcome the new directors."
Each of the directors has been appointed to take such position effective immediately upon completion of the spin-off, which is expected to occur around the end of January 2012.
The following are brief biographies of those individuals who will serve on the Board of Directors of Ralcorp Holdings, Inc.:
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The following are brief biographies of those individuals who will serve on the Board of Directors of Post Holdings, Inc.:
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Cautionary Statement on Forward-Looking Language
Forward-looking statements, within the meaning of Section
21E of the Securities Exchange Act of 1934, are made
throughout this release. These forward-looking statements
are sometimes identified by the use of terms and phrases
such as "believe," "should,"
"would," "expect,"
"project," "estimate,"
"anticipate," "intend,"
"plan," "will," "can,"
"may," or similar expressions elsewhere in this
release. All forward-looking statements are subject to a
number of important factors, risks, uncertainties and
assumptions that could cause actual results to differ
materially from those described in any forward-looking
statements. These factors and risks include, but are not
limited to, unanticipated developments that prevent,
delay or negatively impact the proposed separation,
disruption to operations as a result of the proposed
separation, inability of one or more of the businesses to
operate independently following the completion of the
proposed separation, general economic conditions, changes
in actual or forecasted results of operations (including
future revenues, earnings per share and leverage ratios),
competitive pressures, future sales volume, significant
increases in the costs of certain commodities, packaging
and freight, inability to effect future price increases
or cost reduction programs, changes in tax laws,
challenges in integration of recent acquisitions and
related accretion, future capital expenditures, changes
in weighted average shares for diluted EPS, increases in
transportation costs, and other financial, operational
and legal risks and uncertainties detailed from time to
time in the Company's cautionary statements contained
in its filings with the Securities and Exchange
Commission and that Post Holdings, Inc. identifies in its
Form 10 Registration Statement. The Company
disclaims and does not undertake any obligation to update
or revise any forward-looking statement in this press
release. There can be no assurance that the proposed
transactions will be completed as anticipated or at all.
About Ralcorp Holdings, Inc.
Ralcorp produces Post branded cereals, a variety of
private-brand foods sold under the individual labels of
various grocery, mass merchandise and drugstore
retailers, and frozen bakery products sold to in-store
bakeries, restaurants and other foodservice customers.
Ralcorp's diversified product mix includes:
ready-to-eat and hot cereals; nutritional and cereal
bars; snack mixes, corn-based chips and extruded corn
snack products; crackers and cookies; snack nuts;
chocolate candy; salad dressings; mayonnaise; peanut
butter; jams and jellies; syrups; sauces; frozen griddle
products including pancakes, waffles, and French toast;
frozen biscuits and other frozen pre-baked products such
as breads and muffins; frozen and refrigerated doughs;
and dry pasta.Ralcorp.
Contact:
Robert Vitale
Chief Financial Officer (Post)
(314) 877-7640
Matt Pudlowski
Director, Business Development (Ralcorp)
(314) 877-7091
Joele Frank/ Eric Brielmann/
James Golden
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
SOURCE Ralcorp Holdings, Inc.
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