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Diamond Foods Appoints Brian Driscoll As CEO

Snack maker Diamond Foods, Inc. (DMND) said Monday that it has appointed food and beverage industry veteran Brian Driscoll as President and Chief Executive Officer, effective May 8.

Driscoll, who will also join the Diamond Board of Directors, replaces Rick Wolford, a Director who has served as Interim Chief Executive Officer since February 7 while the company conducted a search for a permanent Chief Executive.

Driscoll, 53, began his career in 1980 in sales with Procter & Gamble, and joined Nestle Foods in 1985. During his ten years with Nestle, he assumed increasing responsibilities culminating with his promotion to Vice President and General Manager of the U.S. Roast and Coffee Division. In 1995, Nabisco recruited him to the position of President-Sales and Integrated Logistics. In 1998, he was appointed to lead the Biscuit Direct Store Delivery Sales and Customer Service organization.

Driscoll joined Kraft Foods Inc. (KFT) with its acquisition of Nabisco as Executive Vice President for Field Sales and Integrated Logistics. During his tenure with Kraft, he rose to the position of President of Sales, Customer Service. In June 2010, he was recruited to lead Hostess Brands where he served as Chief Executive Officer until March of this year.

In February, Diamond Foods replaced its President and Chief Executive Officer Michael Mendes and Chief Financial Officer Steven Neil following the completion of its three-month internal probe related to the accounting of payments to walnut growers.

The accounting scandal was also cited as the reason for the termination of Diamond Foods' proposed $2.35 billion deal to buy the Pringles snack business from Procter & Gamble Co. (PG). Subsequently, Kellogg Co. (K) agreed to buy Procter & Gamble's Pringles snack business for $2.695 billion in cash.

by RTT Staff Writer

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