BellRing Brands has appointed Snak King CEO Michael Axelrod as its new president and chief executive, effective 29 July. Axelrod will also join the board of the Premier Protein and Dymatize brand owner, succeeding Darcy Davenport, whose departure was announced in February. Davenport will remain in a senior advisory role to support the transition. BellRing highlighted Axelrod's three decades of consumer-packaged goods experience, including CEO roles at Del Real Foods and Snak King, and executive positions at Kraft Foods and McCain Foods. The appointment follows a difficult quarter in which operating profit fell 30.6% to $66 million and net earnings dropped 42.2% to $33.9 million, prompting a cut to the full-year outlook with net sales now expected between $2.33 billion and $2.37 billion.
Bellring Brands LLCOperating profit fell 30.6% and net earnings dropped 42.2%, prompting a cut to full-year outlook.