Dec 3 Diamond Foods Inc named David
Colo as its new executive in charge of global manufacturing and
procurement as the snack foods company looks to fix problems
related to its supply chain, following an accounting scandal
that hurt its ability to do business.
The maker of Emerald nuts, Kettle chips and Pop Secret
popcorn restated financial results for fiscal years 2010 and
2011 in November after an internal probe found that it had
accounted for some payments to farmers in the wrong fiscal
The scandal, which led to the exits of former Chief
Executive Michael Mendes and finance chief Steven Neil, dealt a
blow to Diamond's relationship with walnut farmers, resulting in
a drop in supply.
Colo, who will report directly to Diamond CEO Brian
Driscoll, previously worked for seven years at ConAgra Foods Inc
and spent 16 years before that at Nestle-Purina
Diamond shares, which have lost more than 50 percent of
their value this year, were little changed in extended trading
after closing at $14.65 on the Nasdaq on Monday.