Advantage Solutions Names Jim Kilts Chairman of the Board of Directors
03 Avril 2023 - 10:35PM
The board of directors of Advantage Solutions Inc. (NASDAQ: ADV), a
leading provider of outsourced sales and marketing services to
consumer goods manufacturers and retailers, last week unanimously
voted to appoint Jim Kilts to the role of chairman of the board of
directors, effective March 31, 2023. Kilts previously held the
position prior to former CEO Tanya Domier’s appointment as the
board’s executive chair. Domier resigned from the role as of March
31, 2023, concurrent with her retirement from Advantage Solutions.
Kilts is a founding partner of Centerview Capital Consumer, a
strategic investment firm that has held an ownership interest in
Advantage Solutions since 2014. He served as a member of the board
of directors of the parent entity of the company since that time,
continuing his service when Advantage Solutions became a public
company in October 2020. A renowned leader in the consumer goods
industry, Kilts also serves as chairman of the board of directors
of The Simply Good Foods Company. He was previously chairman of the
board, CEO and president of Gillette, where he successfully
reinvigorated the business and oversaw its sale to The Procter
& Gamble Company, subsequently assuming the role of vice
chairman of the merged company’s board.
Earlier executive leadership roles include president and CEO of
Nabisco, executive vice president of the Philip Morris Companies,
president of Kraft USA as well as president of Oscar Mayer.
His prior board service includes Pfizer Inc., Unifi Inc.,
Nielsen Holdings NV, Big Heart Pet Brands, MetLife Inc. and
MeadWestvaco, among others. Kilts also served a two-year term as
chairman of the board of the Grocery Manufacturers Association.
“With Jim’s extensive consumer brand experience, disciplined
approach and keen focus on results, he is uniquely positioned to
chair the Advantage board of directors. I’m eager to continue to
collaborate with him and all of our directors as we chart the
course for our company’s future,” said Advantage Solutions CEO Dave
Peacock. “I also want to thank Tanya, whose vision and leadership
was critical to the company’s success and whose partnership has
been invaluable to me.”
Kilts said, “I’m honored to once again have the opportunity to
serve as Advantage Solutions’ board chair and I’m looking forward
to working closely with Dave and his talented executive leadership
team to help fuel strategic growth and innovation that strengthens
shareholder value.”
Learn more about the Advantage Solutions board of directors by
visiting the company’s website.
About Advantage Solutions
Advantage Solutions (NASDAQ: ADV) is a leading provider of
outsourced sales and marketing solutions to consumer goods
companies and retailers. Our data- and technology-driven services —
which include headquarter sales, retail merchandising, in-store and
online sampling, digital commerce, omnichannel marketing, retail
media and others — help brands and retailers of all sizes get
products into the hands of consumers, wherever they shop. As a
trusted partner and problem solver, we help our clients sell more
while spending less. Headquartered in Irvine, California, we
have offices throughout North America and strategic investments in
select markets throughout Africa, Asia, Australia and Europe
through which we serve the global needs of multinational, regional
and local manufacturers. For more information, please visit
advantagesolutions.net.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements within the meaning of the federal
securities laws, including statements regarding expected
leadership, contributions and potential success of the Company’s
new executives. Forward-looking statements generally relate to
future events or Advantage’s future financial or operating
performance. These forward-looking statements generally are
identified by the words “may”, “should”, “expect”, “intend”,
“will”, “would”, “could”, “estimate”, “anticipate”, “believe”,
“predict”, “confident”, “potential” or “continue”, or the negatives
of these terms or variations of them or similar terminology. Such
forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to
risks, uncertainties and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Advantage and its
management at the time of such statements, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, market-driven wage changes or changes to labor laws or wage or
job classification regulations, including minimum wage; the
COVID-19 pandemic and the measures taken in response thereto; the
availability, acceptance, administration and effectiveness of any
COVID-19 vaccine; Advantage’s ability to continue to generate
significant operating cash flow; client procurement strategies and
consolidation of Advantage’s clients’ industries creating pressure
on the nature and pricing of its services; consumer goods
manufacturers and retailers reviewing and changing their sales,
retail, marketing and technology programs and relationships;
Advantage’s ability to successfully develop and maintain relevant
omni-channel services for our clients in an evolving industry and
to otherwise adapt to significant technological change; Advantage’s
ability to maintain proper and effective internal control over
financial reporting in the future; potential and actual harms to
Advantage’s business arising from the Take 5 Matter; Advantage’s
substantial indebtedness and our ability to refinance at favorable
rates; and other risks and uncertainties set forth in the section
titled “Risk Factors” in the Annual Report on Form 10-K filed by
the Company with the Securities and Exchange Commission (the “SEC”)
on March 1, 2023, and in its other filings made from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Advantage assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Media ContactBarb Grondin FrancellaAdvantage
Solutionspress@advantagesolutions.net
Investor Relations ContactKimberly Esterkin
Addo Investor
Relationsinvestorrelations@advantagesolutions.net310-829-5400
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6af48ea7-b86c-48eb-bebb-e16bb223ac21
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