Ardent Mills has launched an internal and external search for a successor, and Dye will remain in his post until the next CEO is named and assumes the role.
Brioche-style packaged baked foods have seen rapid growth in recent years and gained heightened profile in late 2022 with the announcement by Grupo Bimbo SAB de CV that it had acquired St Pierre Group.
A softening of food demand was to be expected in 2023 given the magnitude of food price inflation experienced over the past two years, said Nestle's CEO.
An update on the impending process was shared by Flowers executives in connection with financial results for the fourth quarter of 2023 and guidance for 2024.