Flowers Foods, Inc. (NYSE: FLO) has announced the planned retirement of R. Steve Kinsey, the Chief Financial Officer (CFO), at the end of 2025. Kinsey has served the company for 36 years, with the last 18 years spent as CFO.
In 2024, Flowers Foods reported net sales of $5.1 billion, solidifying its position as one of the largest producers of packaged bakery foods in the United States. The company operates bakeries nationwide, producing a diverse range of bakery products under well-known brands such as Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Following Kinsey's retirement, Flowers Foods has initiated a search for his successor with a leading executive search firm. Kinsey is expected to continue serving in an advisory capacity for a period to facilitate a smooth transition.
Ryals McMullian, Chairman and CEO of Flowers Foods, expressed gratitude for Kinsey's contributions, highlighting his integrity, respect, and commitment to excellence throughout his tenure. Kinsey, in turn, acknowledged the talented and passionate team at Flowers Foods, expressing confidence in their ability to continue executing the company's strategic priorities and driving shareholder value.
As Flowers Foods prepares for this transition, investors and industry observers will be keenly watching for updates on the incoming CFO and the company's financial performance in the coming quarters. Following these announcements, the company's shares moved -0.42%, and are now trading at a price of $13.025. For more information, read the company's full 8-K submission here.
