Jasper B. Sanfilippo Jr., currently president and COO of John B. Sanfilippo & Son Inc., will become CEO effective Oct. 1. He succeeds Chairman and CEO Jeffrey T. Sanfilippo, who will transition to executive chairman.
Frank S. Pellegrino, currently EVP and CFO, has been promoted to president and CFO, also effective Oct. 1.
Elgin, Illinois-based JBSS said the plan, announced July 16, is designed to ensure a seamless leadership transition and continued execution of its strategic plan.
JBSS processes, markets and distributes nut and dried fruit products and snack bars sold under the Fisher, Orchard Valley Harvest, Squirrel Brand and Southern Style Nuts brands, as well as a variety of private brands.
Planning for growth
As executive chairman, Jeffrey Sanfilippo will continue to lead the board of directors and work with the executive team on strategic direction and long-term growth initiatives.
“Jasper is an exceptional leader with deep operational expertise, has a strong strategic mindset and a proven track record of execution,” he said. “I look forward to supporting Jasper in his transition from COO to CEO, and I have full confidence in his ability to lead us into our next phase of success and growth.”
“It is an honor to succeed Jeffrey as CEO and continue the family legacy of running the company,” said Jasper Sanfilippo Jr. “JBSS has a talented leadership team and a clear strategy, and I look forward to working with Frank and the entire organization to continue delivering value for our stockholders, customers and employees.”
New president
Pellegrino has been with JBSS for nearly 20 years, and the company said his expanded role as president and CFO will strengthen alignment between its financial and operational priorities.
Pellegrino said, “It is a tremendous honor to be named president of JBSS, and I deeply appreciate the trust and confidence that the board has placed in me. I am excited to take on this expanded role and continue partnering with Jasper and our leadership team to execute on our strategic priorities and drive sustainable growth.”
Jeffrey Sanfilippo added, “I am equally excited about Frank’s promotion to president. Frank has been with JBSS for nearly 20 years and is a critical partner in supporting our financial discipline, guiding our strategic direction and the execution of our strategic priorities. His expanded role as president will further strengthen the alignment between our financial and operational priorities.”