J&J Snack Foods Corp. announces the appointment of two new members of the Board of Directors; Declare a quarterly dividend


PENNSAUKEN, NJ, May 20, 2022 (GLOBE NEWSWIRE) — J&J Snack Foods Corp. (NASDAQ: JJSF) today announced the appointment of Dan Fachner, Chairman and Chief Executive Officer of the Company, and Roy Jackson to the Board of Directors, effective May 19, 2022, bringing the current number to seven of administrators. Fachner and Jackson bring decades of experience in CPG, retail, restaurant and restaurant operations to the JJSF Board of Directors.

Dan Fachner joins the board of directors after 12 months as president and CEO of J&J Snack Foods. Prior to this role, Dan served as President of The ICEE Company, part of J&J Snack Foods, where he led ICEE through several years of significant expansion, innovation and growth.

Roy Jackson has spent nearly 25 years in the restaurant industry. He has held leadership positions at PepsiCo, YUM! Brands and The Coca-Cola Company, where he retired in 2018 as Senior Vice President, Business Development & Industry Affairs. Jackson most recently served as Executive Vice President, Development and Industry Relations at the National Restaurant Association, of which J&J Snack Foods is an active member. Jackson’s experience has encompassed areas of increasing responsibility in sales, general management and restaurant operations. He is currently a member of the board of directors of CustomerX.i Inc. and has previously held board positions with the Multi-Cultural Foodservice Hospitality Alliance, the International Franchise Association and the National Restaurant Educational Foundation. Jackson received the National Restaurant Association President’s Award in 2017 and the Women’s Foodservice Forum Partnership Award in 2017.

“We are delighted to welcome Dan Fachner and Roy Jackson to the J&J Snack Foods Board of Directors,” said Vince Melchiorre, Chairman of the Nominating and Corporate Governance Committee at J&J Snack Foods. “Dan’s vision and proven leadership will be essential to the continued growth and success of the company. Roy’s unparalleled restaurant and operations experience, coupled with his extensive industry relationships, will further strengthen the company’s already strong relationships with customers across the industry. I am delighted to have these experienced executives join the Board of Directors.

The Company noted that these additions to the Board of Directors reinforce its commitment to professional and racial diversity on its Board of Directors.


The Company also announced that the Board of Directors of the Company has declared a quarterly cash dividend of $0.633 per common share of the Company, payable on July 11, 2022, to shareholders of record on June 20, 2022.

The declaration and payment of dividends is subject to the discretion of the Board of Directors and depends on various factors, including our net earnings, credit facility restrictions, financial condition, cash requirements and other factors deemed relevant by our Board of Directors.

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial condition, results of operations, revenue growth and profit levels, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, management plans and objectives for future operations, and statements that include words such as “anticipate”, “would”, “believe”, “plan”, “objectives”, “estimate”, “expect”, “intend”, “may”, “could”, “should”, “shall” and similar expressions are forward-looking statements. These forward-looking statements are inherently uncertain and readers should recognize that actual results may differ materially from management’s expectations. We do not undertake to update these forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include consumer spending, price competition, new product acceptance, raw material price and availability, cost transport, changes in the competitive market, uncertainty and the ultimate economic situation. the impact of the COVID-19 pandemic and other risks identified in our Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. Many of these factors are beyond the Company’s control.

About J&J Snack Foods Corp.
J&J Snack Foods Corp. (NASDAQ: JJSF) is a leader and innovator in the snacks industry, providing innovative, niche and affordable branded snacks and beverages to foodservice and retail supermarkets. Manufactured and distributed nationally, our major products include SUPERPRETZEL, the world’s #1 soft pretzel brand, as well as internationally acclaimed ICEE and SLUSH PUPPIE frozen drinks, LUIGI’S real Italian ice cream, MINUTE MAID frozen ice cream , whole fruit sorbet and frozen fruit bars. , SOUR PATCH KIDS Flavored Ice Pops, Tio Pepe’s & CALIFORNIA CHURROS, and THE FUNNEL CAKE FACTORY funnel cakes and several bakery brands within DADDY RAY’S, COUNTRY HOME BAKERS and HILL & VALLEY. With nearly twenty manufacturing plants and over $1 billion in annual revenue, J&J Snack Foods Corp. continued to experience steady growth as a company, achieving record sales for 48 consecutive years. The company is constantly looking for opportunities to expand its unique niche product offerings while bringing smiles to families around the world. For more information, please visit http://www.jjsnack.com.

Investor contacts:
Joseph Jaffoni, Jennifer Neuman or Norbert Aja
212/835-8500 or jjsf@jcir.com

main logo

Source link


Comments are closed.