THOMASVILLE, Ga. — Flowers Foods (NYSE: FLO) has appointed Craig S. Parr to the newly created position of senior vice president of finance and chief risk officer. Parr comes to Flowers from The Andersons, Inc., where he served as vice president of risk management and food ingredient supply.
In the new position, Parr will report to R. Steve Kinsey, executive vice president and chief financial officer. His initial focus will be on commodity hedging and purchasing strategies. Flowers' purchasing staff will remain intact, reporting to Parr.
"Volatility in the commodities markets in recent years has caused us to focus even more carefully on our hedging and forward buying strategies for ingredients and other goods, and we are continually looking for ways to further improve our practices," said Kinsey. "Bringing on someone with Craig's depth of experience and proven track record with a highly respected commodities-based firm will help us even better manage our purchasing and hedging strategies and risk areas. Craig has shown that he can drive profitability, strengthen financial operations, reduce risk, and develop sound strategies, and we are very pleased that he's joining our team."
Parr has 20 years experience at The Andersons and was promoted to progressive leadership positions in accounting, purchasing, treasury and risk management, before being named vice president of risk management and food ingredient supply. He has been an active member of national risk management committees and spoke frequently at industry events regarding commodity purchasing & risk topics. He also serves on the board of directors at Mobile Meals, Inc. and is a committee member at the National Grain & Feed Association and the Snack Food Association.
Parr holds a master's degree in business administration from Bowling Green State University and is currently working on a master's degree in finance. He also holds degrees in information systems and management from Parkland College, and a bachelor's degree in business administration from Illinois State University. His professional certifications include supply chain management, energy procurement, risk & compliance management and commodity brokerage.
About Flowers Foods Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is the second-largest producer and marketer of packaged bakery foods for retail and foodservice customers in the United States with 2011 sales of $2.8 billion. Flowers operates 44 bakeries that produce a wide range of bakery products. These products are sold through a direct-store-delivery network with access to approximately 70% of the U.S. population in the East, South, and Southwest as well as in certain markets in California. Select Flowers products are sold nationwide through customers' delivery systems. Among the company's top brands are Nature's Own, Tastykake, and Mrs. Freshley's. For more information, visit www.flowersfoods.com.
Source: Flowers Foods, Inc.
