Conagra Brands, Inc. announced that John Brase has been named president and CEO of the company, effective June 1. Brase will also join Conagra's board of directors. He succeeds Sean Connolly, who will step away from his leadership roles and from the board on May 31, after more than a decade of leadership.

The CEO change comes less than a month after the company said it expects lower profits this year, citing "increased uncertainty tied to global trade ⁠tensions," says Reuters. Conagra has called Connolly's departure "a termination without cause," according to The Wall Street Journal, and because of that, he is eligible for certain separation benefits.

Brase brings more than 35 years of consumer goods experience, reportedly with deep expertise in strategic portfolio management, brand building, and driving operational excellence to deliver profitable growth. Most recently, he served as president and COO of The J.M. Smucker Co., where he oversaw the company's U.S. retail, international, and Away from Home businesses, as well as its sales, operations and supply chain functions. During his tenure at Smucker, he sharpened strategic and operational execution, drove growth in key brands and led significant productivity improvements. Prior to that, Brase spent approximately 30 years at Procter & Gamble (P&G), ultimately becoming SVP and general manager of P&G's $6 billion North America Family Care business. During his P&G career, he drove profitable growth across major brands, including Charmin, Bounty, Puffs and Pampers, consistently delivering market share leadership and margin expansion, Conagra Brands says.

"John's track record of driving top- and bottom-line performance, building brands across multiple consumer-packaged goods categories, leveraging advantaged business systems and leading inclusive, results-driven cultures is exceptional, and we are confident Conagra will thrive under his leadership," says Richard H. Lenny, independent chair of Conagra's board of directors. "The decision to appoint John as Conagra's next leader follows our thoughtful approach to succession planning, including discussions with Sean, and our determination that now is the right time for this leadership transition."

Lenny continues, "From the moment Sean became Conagra's CEO eleven years ago, he has worked tirelessly to create and lead a pure-play food company. His ability to unlock value in Conagra's brands, streamline the Company's structure and motivate his team has been exceptional. He has successfully led Conagra through extraordinary times in our industry—from the global pandemic, to unprecedented inflation and supply chain disruptions—by instilling a 'refuse to lose' mindset across the Company. As a director, Sean played a key role in the addition of eight independent directors to the board. We thank Sean for all that he accomplished for Conagra's investors, customers and employees and wish him continued future success. We are confident in the road ahead for Conagra, and I look forward to working with both Sean and John in the coming weeks to ensure a smooth transition."

"It's an honor to join Conagra and lead this portfolio of iconic brands," says Brase. "I've long admired what Sean and the team have built, and I look forward to accelerating the company's track record of driving strong revenue growth, strengthening margins and generating robust cash flow to unlock the full potential of its brands and deliver meaningful value for consumers and shareholders. I am excited to work closely with Rick, the board, and the entire Conagra team as we build on this strong foundation and advance the company's top- and bottom-line performance for all our stakeholders."

"I'm proud of what we've accomplished throughout my tenure at Conagra," says Connolly. "Our efforts to invest in brand building and innovation, grow scale in frozen and snacks, sharpen execution and divest non-core assets have created a pure-play, branded platform with proven strength in key domains. As I prepare to step aside, I look forward to working with John to ensure a smooth transition. I'm confident that the Conagra team, under John's leadership, will build on the foundation we've established and will continue to deliver value for consumers, customers, and shareholders for years to come."

Conagra Brands is on the current Snack Food & Wholesale Bakery “Top 50 Snack & Bakery Companies” list. Click here to view the current “Top 50” rankings.