CORRECT: Pinnacle Foods Names Mondelez's CCO As Its New CEO

By Markets MarketWatch Pulse

Pinnacle Foods Inc. said it named Mark Clouse as its chief executive officer, effective May 23, to replace current CEO Bob Gamgort, who is leaving the company at the end of April. Clouse is currently the chief commercial officer at Mondelez International Inc. . Pinnacle, which brands include Vlasic, Wish-Bone dressings, Mrs. Butterworth's and Birds Eye Frozen, said Chief Financial Officer Craig Steeneck will assume the role of interim CEO after Gamgort leaves through May 22. Pinnacle affirmed its 2016 adjusted earnings-per-share outlook of $2.08 to $2.13, which surrounds the FactSet consensus of $2.11. The stock, which was still inactive in premarket trade, has gained 3.8% year to date, while the S&P 500 has tacked on 2.3%.

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