Armanino Foods of Distinction Inc. (Pink Sheets:AMNF – News) announced today that it has implemented its management succession plan following the death of its Chairman and CEO. David B. Scatena, vice chairman of the board, announced that Edmond J. Pera, currently chief operating officer, secretary, and treasurer of the Company, will replace William Armanino as president and CEO. Armanino passed away January 24. Deborah Armanino Le Blanc, the Company’s National Sales Manager, was elected to fill the vacancy on the board created by Armanino’s passing and to assume the office of Secretary. In addition, board member Douglas R. Nichols, who has served on the board since 2001, was named Chairman of the Board.
Pera began his tenure with the Company as a consultant in 1998 and has served in a variety of capacities since that time. For the past seven years, Pera has served as the COO of the Company as well as its treasurer and secretary. Prior to joining the Company. Mr. Pera headed his own consulting practice, was president and CEO of ACI, a NASDAQ company, and CFO of Levi Strauss International.
“While we mourn the loss of Bill Armanino, we know that he would energetically encourage us to forge forward to build on his legacy,” Pera says. “All of us in the Company have re-dedicated ourselves to that goal.”
Preliminary results for the year ended December 31, 2008, show mid- to high-single-digit percentage growth in sales and pre-tax income from Armanino operations. The company’s sales growth curve continued into the first month of 2009.
Pera also announced that the board of directors declared a regular quarterly cash dividend of $.0075 per share to stockholders of record on April 4, 2009. The cash dividend will be payable on or about May 2, 2009.