Joseph Scalzo has stepped down as president and chief operating officer at US-based dairy giant Dean Foods. The firm’s chairman and CEO Gregg Engles is assuming operating responsibilities and Sclazo will not be replaced, according to the company.
“It has become clear that Dean Foods will be best served by a new structure that can move decisively and quickly to execute our strategy while maintaining an extremely tight rein on costs,” Engles notes. “We expect to finish out our initial $300 million (EUR216.3m) cost reduction program by achieving the final $125 million or better of savings across the supply chain in 2011. Additionally, we are aggressively attacking cost at the centre, with a goal of reducing our SG&A run rate by at least $30 million by year end 2011. Dean Foods has a bright future and I am confident we will deliver for shareholders, customers and our employees.”