Advantage Solutions Names Meati CFO Jody Macedonio to Its Board of Directors
24 Mayo 2023 - 7:02AM
Advantage Solutions Inc. (NASDAQ: ADV) (“Advantage Solutions,” the
“Company,” “we” or “our”) has appointed Jody Macedonio, chief
financial officer for Meati, maker of animal-free meat
alternatives, to its board of directors.
Prior to joining Meati as the company’s top finance executive in
2022, Macedonio served as chief financial officer of Chobani. She
previously served in chief financial officer roles at 8th Avenue
Food & Provisions and Dean Foods. Earlier in her career, she
held finance positions at Henkel AG, PepsiCo Inc. and Nestlé/Alcon
Laboratories. Her strategic perspective and track record for
deploying smart cost controls will bring added value to Advantage
Solutions’ business transformation efforts, which include
positioning the Company for sustainable growth, enhancing free cash
flow generation and utilizing its cash to reduce debt and
strengthen the balance sheet.
“With her extensive experience in the consumer packaged goods
(CPG) industry, including roles at global, emerging and
private-brand companies, Jody brings tremendous expertise and
critical insight to the Advantage Solutions board of directors,”
said Advantage Solutions Board Chair Jim Kilts. “She’s a proven
financial leader who has played a critical role for CPG companies
as they navigated the ever-changing marketplace.”
Advantage is uniquely positioned at the intersection of brands
and retailers, providing essential services to nearly 4,000 clients
across the entire path to purchase, with most of the largest U.S.
grocery retailers regarding Advantage as their exclusive in-store
experiential partner. Its breadth of services and deep industry
insights deliver high-yield returns for clients, while enabling
them to navigate the complex operating environment with more
conviction. Macedonio’s board appointment will complement the
Company’s increased rigor around short- and long-range business
planning.
“Jody’s financial discipline, people-focused leadership style
and results-driven approach to investing in systems and
capabilities are well-known,” added Advantage Solutions CEO Dave
Peacock. “Her financial strategies have powered operational
transformation and strengthened market-expansion efforts. Jody’s
strategic perspective is especially welcome during this
transformative time in our business, as we work to drive
operational efficiencies, foster innovation and create more value
for our clients, customers, associates and shareholders.”
Macedonio is a board member of Nutrabolt, an active
health-and-wellness company, and 4word, an organization serving
professional women with faith. She previously served as a member of
the board of directors of Organic Valley Fresh. She is committed to
diversity, equity and inclusion and has supported progress through
engagements with the National Diversity Council and the Texas
Diversity Council. Macedonio holds a
bachelor’s degree from Colorado State University and a master of
business administration degree from the University of Colorado.
About Advantage Solutions
Advantage Solutions is a leading provider of outsourced sales
and marketing solutions to consumer goods companies and retailers.
Our data- and technology-driven services — which include
headquarter sales, retail merchandising, in-store and online
sampling, digital commerce, omnichannel marketing, retail media and
others — help brands and retailers of all sizes get products into
the hands of consumers, wherever they shop. As a trusted partner
and problem solver, we help our clients sell more while spending
less. Headquartered in Irvine, California, we have offices
throughout North America and strategic investments in select
markets throughout Africa, Asia, Australia and Europe through which
we serve the global needs of multinational, regional and local
manufacturers. For more information, visit
advantagesolutions.net.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements within the meaning of the federal
securities laws, including statements regarding expected
leadership, contributions and potential success of the Company’s
new board member. Forward-looking statements generally relate to
future events or Advantage’s future financial or operating
performance. These forward-looking statements generally are
identified by the words “may”, “should”, “expect”, “intend”,
“will”, “would”, “could”, “estimate”, “anticipate”, “believe”,
“predict”, “confident”, “potential” or “continue”, or the negatives
of these terms or variations of them or similar terminology. Such
forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
risks, uncertainties and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Advantage and its
management at the time of such statements, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, market-driven wage changes or changes to labor laws or wage or
job classification regulations, including minimum wage; the
COVID-19 pandemic and the measures taken in response thereto; the
availability, acceptance, administration and effectiveness of any
COVID-19 vaccine; Advantage’s ability to continue to generate
significant operating cash flow; client procurement strategies and
consolidation of Advantage’s clients’ industries creating pressure
on the nature and pricing of its services; consumer goods
manufacturers and retailers reviewing and changing their sales,
retail, marketing and technology programs and relationships;
Advantage’s ability to successfully develop and maintain relevant
omni-channel services for our clients in an evolving industry and
to otherwise adapt to significant technological change; Advantage’s
ability to maintain proper and effective internal control over
financial reporting in the future; potential and actual harms to
Advantage’s business arising from the Take 5 Matter; Advantage’s
substantial indebtedness and our ability to refinance at favorable
rates; and other risks and uncertainties set forth in the section
titled “Risk Factors” in the Annual Report on Form 10-K filed by
the Company with the Securities and Exchange Commission (the “SEC”)
on March 1, 2023, and in its other filings made from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Advantage assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Media ContactBarb Grondin FrancellaAdvantage
Solutionspress@advantagesolutions.net
Investor Relations ContactSean ChoksiAdvantage
Solutionsinvestorrelations@advantagesolutions.net
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5f8ccfd7-8f95-4b9b-b832-980dbad465b4
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