Larry Peiros Appointed to Annie’s Board of Directors

  Larry Peiros Appointed to Annie’s Board of Directors

 Board of Directors to Recommend Declassification of Board at Annual Meeting

Business Wire

BERKELEY, Calif. -- March 1, 2013

Annie's, Inc. (NYSE: BNNY), a leading natural and organic food company, today
announced Lawrence (Larry) Peiros has been appointed to its Board of Directors
effective immediately. David Behnke, a Managing Director at Najeti Ventures,
resigned from the Board to pursue other interests. Mr. Peiros was appointed to
the Board to fill the vacancy. The Company also announced that the Board of
Directors will recommend that stockholders vote to declassify the Board at the
next annual meeting.

“We are pleased to have Larry join the Board of Directors,” John Foraker, CEO
of Annie’s, said. “His broad consumer product experience and business judgment
will be valuable to the Annie’s board as we grow our business. I also want to
thank David Behnke for his support and service as an investor and board
member.”

Mr. Peiros has more than 30 years of operating and marketing experience in the
consumer packaged goods industry with Clorox Company, which he joined in 1981.
He currently is a member of Clorox’s Executive Committee and serves as its
Chief Operating Officer. Mr. Peiros has previously announced that he will
retire from Clorox effective April 1, 2013. As the COO, Mr. Peiros oversees
Clorox’s global business, including the Burt’s Bees and Green Works brands,
and leads the company’s marketing, sales, product supply and research and
development functions, as well as its environmental efforts. Previously, he
was the company's Chief Operating Officer of Clorox North America, responsible
for U.S. and Canadian businesses accounting for more than 80% of the company’s
sales. Mr. Peiros serves as a Director of Potlatch Corporation, a timberland
real estate investment trust, and Ross Stores, operator of the largest
off-price apparel and home fashion chain in the United States. He holds a
bachelor's degree from Dartmouth College and a master's degree in business
administration from Stanford University.

In addition, as part of its commitment to accepted best practices of corporate
governance, the Board of Directors intends to recommend that the Company's
charter and bylaws be amended to declassify the Board of Directors at the next
annual meeting of stockholders to be held later this year. If the stockholders
approve this proposal, all of the Company’s directors would be elected
annually to serve one-year terms. The Board also appointed Mr. Pieros to its
Compensation Committee, which he will chair, and director Julie Klapstein to
its Audit Committee to fill the vacancies on those committees caused by Mr.
Behnke’s resignation. In addition, Mr. Pieros will replace Molly Ashby,
Chairman of the Board of Directors, on the Nominating/Corporate Governance
Committee. As a result, all of the Board’s committees are now fully
independent.

Molly Ashby said, “The Board believes the addition of Mr. Peiros and the
declassification of the Board are in the best interest of the Company and all
its stockholders.”

About Annie's

Annie's(NYSE: BNNY) is a natural and organic food company that offers
great-tasting products in large packaged food categories.Annie'sproducts are
made without artificial flavors and synthetic colors and preservatives
regularly used in many conventional packaged foods.Today,Annie'soffers more
than 125 products andis present in over 25,000 retail locations inthe United
StatesandCanada. Founded in 1989,Annie'sis committed to operating in a
socially responsible and environmentally sustainable manner.For more
information, visitwww.annies.com.

Forward-Looking Statements

Certain statements in this press release, including Annie's statements
regarding future changes to the Company’s charter and by-laws, are
"forward-looking statements" within the meaning of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements may be identified by words like "continue," "could," "expect,"
"may," "plan," "potential," "future," "will," "seek" and similar terms or
phrases. The forward-looking statements contained in this press release are
based on management's current expectations and are subject to uncertainty and
changes in circumstances and are subject to significant risks. We cannot
assure you that future developments affecting us will be those that we have
anticipated. We undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, future developments or
otherwise, except as may be required by any applicable securities laws.

Contact:

Kekst and Company Incorporated for Annie’s
Donald C. Cutler, 415-852-3903
donald-ccutler@kekst.com
 
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