J&J Snack Foods Names Shawn Munsell as Senior Vice President and Chief Financial Officer

On November 19, 2024, J&J Snack Foods Corp. (NASDAQ: JJSF) announced in an 8-K filing that its Board of Directors has approved the appointment of Shawn Munsell as the Senior Vice President and Chief Financial Officer, effective December 2, 2024. Munsell is set to succeed Ken Plunk, the current Chief Financial Officer, who announced his retirement in June 2024.

Munsell, aged 49, brings a wealth of experience to his new role, having most recently served as the Chief Financial Officer of Calavo Growers, Inc. He also held significant positions at Tyson Foods and CF Industries, specializing in finance, accounting, and treasury operations.

Under the terms of the Offer Letter, Mr. Munsell will receive a base annual salary of $500,000 along with a target bonus of 75% of his base salary, subject to the Compensation Committee’s discretion. Additionally, as part of his employment inducement, he will receive a sign-on bonus of $50,000, eligible for repayment in case of early termination within the first year.

Apart from the compensation package, Mr. Munsell will participate in the company’s long-term incentive plan, receiving annual restricted stock unit awards valued at $400,000. Furthermore, he will be entitled to standard company benefits such as group health insurance and 401(k) participation.

It is emphasized that there are no undisclosed agreements or conflicts of interest related to Mr. Munsell’s appointment as Chief Financial Officer, as per regulatory requirements. The company’s official press release regarding this appointment is included as Exhibit 99.2 in the filing.

This development signifies a strategic move by J&J Snack Foods to strengthen its financial leadership and enrich its executive team with expertise to navigate upcoming challenges and opportunities efficiently.

The complete details of the filing can be accessed on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read J&J Snack Foods’s 8K filing here.

About J&J Snack Foods

J&J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. It offers soft pretzels under the SUPERPRETZEL, SUPERPRETZEL BAVARIAN, NEW YORK PRETZEL, BAVARIAN BAKERY, and BRAUHAUS brands, as well as under the private labels; frozen novelty under the DIPPIN'DOTS, LUIGI'S, WHOLE FRUIT, DOGSTERS, PHILLY SWIRL, ICEE, and MINUTE MAID brands; churros under the HOLA! and CALIFORNIA CHURROS brands; and handheld products under the SUPREME STUFFERS and SWEET STUFFERS brands.