Bill Gisel, CEO of Rich Products Corp., Buffalo, N.Y., announced a series of executive promotions that aim to add greater strategic depth to the company’s executive leadership team.
Richard Ferranti was named president, becoming just the fourth person to hold that title in company history. He succeeds Gisel, who previously served as both president and CEO, Rich Products said. Gisel will continue leading Rich Products as CEO.
“Richard brings a wide array of exceptional qualities to his new role, not the least of which is his passion to fulfill our mandate for Rich’s to achieve long-term success as a family business,” Gisel said. “We continue making changes today that will better position Rich’s for tomorrow. We could not be on a better path with Richard working closely with our executive team to chart our course for success as the next president of Rich Products.”
As president, Ferranti will take on more direct leadership responsibility for the strategic priorities of the business, enabling Gisel to focus increased attention on Rich’s long-term direction and organizational excellence priorities, the company said. Ferranti also will maintain his role as chief operating officer, overseeing the performance of the company’s various food-related businesses in more than 100 countries. The company’s products include Carvel ice cream cakes, Coffee Rich non-dairy creamer and many more.
“I am grateful to the Rich family and Bill Gisel for the opportunities they have given me throughout my career to develop the necessary breadth and depth of experience required for this important leadership role,” said Ferranti, who has served in a series of progressive leadership roles since joining Rich’s in 1986. “As we look ahead to 2019 and beyond, we have enormous opportunities to grow our business by delivering even greater value to our customers across the globe. We know that if we continue to strengthen and accelerate our capabilities, we will be successful.”
Gisel also announced that Jeff Kim was promoted to president of global markets, a newly created role with responsibility for leveraging Rich’s global reach and local activation. A 26-year associate, Kim most recently led business operations as president of Rich’s Asia-Pacific Region. With this promotion, he also was appointed to Rich’s executive leadership team.
In addition, Ray Burke, president of Rich’s U.S.-Canada Region, was appointed to the company’s executive team. Burke, who has served in his current role since 2012, has primary oversight and accountability for Rich’s food businesses across the United States and Canada.
“Rich’s is just two years away from celebrating its 75th anniversary, a milestone that places us among the most successful and enduring global family businesses anywhere,” Gisel said. “Our future is bright, and we’re confident that the leaders we have in place will help us achieve extraordinary results for our customers, our associates and our company now and well into the future.”