well, it will be a new ball game at Cag --but not until next May. Rodkin says he will leave May 2015 --over 8 months from now. I guess the long delay is to assure his getting the top golden parachute--enough money to choke an elephant. Wish he'd walk out the door next week -- his mind will be mainly on a luxury retirement --not concentrated on running Cag. He's been CEO since 2005 --Cag stock has risen 33% since then --but compared with a 60% increase in the S&P.
The Board of Directors practically let him write his own contract when they hired Rodkin. Even let him use the Company jet to return to Connecticut every week before he took over.
He will not go down as the worst CEO, or the best. He inherited a bloody mess in 2005. Biut he caused one with the near-disaster buy-out of Ralcorp and some misguided and ineffective acquisitions. Some blame him for not revamping the corporate structure.
Now, I guess, we sit patiently and wait the Board's naming a new CEO. It would be nice to have a new guy (or gal) in place soon, so Rodkin could concentrate on his personal future. as he is bound to do.
Conagra should be growing like most of the other big foodmakers. It's been a laggard all year.