THERE was a time not long ago when Gregg L. Engles was considered a genius in the dairy industry, a shrewd C.E.O. who had cobbled together a string of local businesses to create the nation’s largest milk bottler, Dean Foods.
Dean’s Web site described Mr. Engles as the primary architect of dairy consolidation, the often painful and perhaps inevitable shift to fewer, larger farms and bottling plants. His company’s soaring share price made him a Wall Street star.
In fawning profiles in the business press, dairy clichés flew: Mr. Engles was “cream of the crop,” “head of the herd” and “milkman to the nation.”
These days, however, as he prepares to step aside as chief executive of Dean Foods, Mr. Engles, 55, is perhaps better known for his paychecks, which continued to be hugely generous even as his company’s fortunes tumbled.
To read the rest of the story, please go to: New York Times
