conagra foods inc (CAG) Key Developments
ConAgra Foods to Pay $11.2 Million to Settle Criminal Charge for Shipping Salmonella-Tainted Peanut Butter
May 20 15
ConAgra Foods agreed to pay $11.2 million to settle a federal charge that the company shipped Peter Pan peanut butter tainted with salmonella from a plant in Georgia, sickening more than 600 people and triggering a massive recall eight years ago. Federal prosecutors filed a single misdemeanour charge of shipping adulterated food against the company along with a plea deal in U.S. District Court in Georgia. No company executives were charged. The company agreed to pay $8 million in criminal fines, plus an additional $3.2 million in forfeitures to the federal government. ConAgra officials blamed moisture from a leaky roof and a malfunctioning sprinkler system at its Georgia production plant for helping salmonella bacteria grow on raw peanuts. ConAgra said it spent $275 million on upgrades and adopted new testing procedures before reintroducing Peter Pan peanut butter a few months after the recall.
ConAgra Foods to Close One of Two Ripon Cookie Plants in 2015
May 19 15
ConAgra Foods in September will start to wind down operations at one of two cookie-making plants in Ripon and close the facility by the end of the year. The company will continue operations at a second plant in Ripon that makes wafer cookies. About 300 people work in the plant that ConAgra will shut down. The company bought the plants in 2013.
ConAgra Foods, Inc. Approves an Amendment to the Bylaws
May 13 15
On May 7, 2015, the Board of Directors of ConAgra Foods, Inc. approved an amendment to the company's amended and restated bylaws, as amended. The amendment provides that all matters, unless otherwise provided for in the company's certificate of incorporation, the bylaws, the rules and regulations of any stock exchange applicable to the company or as otherwise provided by law or pursuant to any regulation applicable to the company or its securities, will be decided by the vote of the majority of votes cast, with abstentions not being considered votes cast. The amendment took effect upon adoption by the board of directors of the company.
ConAgra Foods, Inc. Announces Departure of Paul T. Maass as President, Private Brands and Commercial Foods
Apr 20 15
ConAgra Foods, Inc. announced that on April 14, 2015, Paul T. Maass, President, Private Brands and Commercial Foods, informed the company of his intent to depart the company in the summer of 2015. Effective immediately and on an interim basis, the company's Private Brands segment is reporting directly to Sean Connolly, President and Chief Executive Officer. Mr. Maass will remain responsible for the company's Commercial Foods segment until May 5, 2015, at which time he will cease to be an executive officer of the company.
ConAgra Foods Approves Dividend, Payable on June 2, 2015
Apr 2 15
The board of directors of ConAgra Foods, Inc. approved a dividend payment of $0.25 per common share to be paid on June 2, 2015, to stockholders of record at the close of business on April 30, 2015.