Charlotte-based Snyder’s-Lance announces resignation of sales exec

Snyder’s-Lance, the Charlotte-based snack manufacturer, announced the resignation of its president of sales execution, Francis Schuster, in a filing Wednesday with the Securities and Exchange Commission.

According to the filing, Schuster will be leaving Snyder’s-Lance in order to “pursue other opportunities.” His resignation will become effective Nov. 3. The company has not announced a successor.

Schuster was named president of sales execution in July following the promotion of his successor John Maples to chief customer officer as a part of the company’s transformation plan due to poor financial performance.

Snyder’s-Lance CEO Brian Driscoll, appointed to the role in June, implemented a transformation plan in July that included a series of company layoffs as well as organizational and manufacturing restructuring. Previously, Driscoll had been serving as interim CEO since April, when the manufacturer’s prior chief executive Carl Lee Jr. stepped down abruptly.

Since the transformation plan, Snyder’s-Lance reported second quarter earnings that beat analysts’ estimates, and total net revenue increased 3.3 percent year over year.

Snyder’s-Lance shares fell less than 1 percent Wednesday to $38.68.

This story was originally published October 4, 2017 at 4:42 PM with the headline "Charlotte-based Snyder’s-Lance announces resignation of sales exec."