In December 2007, an affiliate of American Capital, Ltd. purchased NECCO with intentions to increase the company’s innovation and branding initiatives. These goals have led NECCO to appoint a new senior management team. Leading the team is the newly promoted president and ceo Richard S. Krause. Previous ceo Domenic M. Antonellis has been promoted to chairman of the board.

“When I came in in August [2008] as chief operating officer, it was basically in a transitional role,” said Krause. “[Antonellis] and I worked side by side for four or five months to successfully transition the business.”

Krause previously served as president and ceo of Elan Nutrition, Inc., a manufacturer and marketer of functional nutrition bars. He also gained more than 25 years of experience in manufacturing and marketing from working at Newell Rubbermaid, Procter & Gamble and ConAgra Foods.

“Dom is a legend in the candy industry,” Krause said. “We all have immense respect for him and what he did with this company. As chairman of the board, he will help guide us as we continue to take business to the next level and grow and develop brands.”

Antonellis will provide a supervisory role to the team, attend board meetings and review strategies with the team.

Additionally, David North, chief financial officer, and Jacqueline Hague, v.p. of marketing, will join NECCO veterans Hans Becher, v.p. of sales; Jeffrey Green, v.p. of innovation; and Bill Leva, v.p. of operations as part of the new senior management team.