Kenneth G. Romanzi served as the CEO of B&G Foods, Inc., from April 2019 until November 2020. He has a solid background in marketing, holding a Bachelor's degree from Babson College. Romanzi came to B&G Foods after leading operations at...

Kenneth G. Romanzi served as the CEO of B&G Foods, Inc., from April 2019 until November 2020. He has a solid background in marketing, holding a Bachelor's degree from Babson College. Romanzi came to B&G Foods after leading operations at WhiteWave Foods and has previously held significant roles at Ocean Spray and Hasbro. Under his leadership, the company achieved remarkable financial performance, surpassing its EBITDA goals significantly. His total compensation in 2020 reached more than $5 million, which reflects the strong performance metrics his team hit. Interestingly, during his tenure, he executed a series of personal stock trades that peaked in value right before his departure from the company, showcasing a keen understanding of the market. Romanzi's approach was pragmatic, focusing on creating substantial value for shareholders and navigating the food industry with a combination of strategic marketing and operational insight.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other B&G Foods CEOs

B

Kenneth G. Romanzi

Ex-CEO of B&G Foods

Education

Bachelor's degree in Marketing from Babson College

Field of Expertise

Sales & Marketing - Marketing

Sector of Economy

Consumer Defensive

Born

January 1, 1960 - 65 years ago

CEO of B&G Foods for

1 year 7 months (Apr 2019 - Nov 2020)

Previous Experience

President, fresh foods at WhiteWave Foods Corp.

Rivals

Competitors/colleagues of Kenneth G. Romanzi

Holdings

See how much did Kenneth G. Romanzi make over time.

During his time at B&G Foods, Kenneth Romanzi was active in trading company stock, making substantial purchases from September 2019 to December 2020. His trades varied from around $500,000 to over $1.5 million monthly, peaking in May 2020 with a...

During his time at B&G Foods, Kenneth Romanzi was active in trading company stock, making substantial purchases from September 2019 to December 2020. His trades varied from around $500,000 to over $1.5 million monthly, peaking in May 2020 with a notable $1.1 million transaction. The consistent buying pattern suggested strong confidence in the company’s performance and future potential. However, the fluctuations and volume of his trades indicate a responsive strategy to market conditions. By the end of his tenure, he had shifted from a more aggressive investment approach to more cautious trading, aligning with the transitional period for B&G Foods. These financial movements provide insight into his understanding of both the company's valuation and market dynamics.

Loading...

Insider Trading

See recent insider trades of Kenneth G. Romanzi.

BGS

19,772 shares

BGS

Mar 25, 2020

Received

BGS

32,059 shares

BGS

Apr 1, 2019

Received

BGS

$29.57K

BGS at $24.64/share

Mar 4, 2019

Purchase

Compensation History

See how much did Kenneth G. Romanzi make over time.

Kenneth Romanzi's compensation as CEO of B&G Foods was notable. In 2020, he earned a total of approximately $5.1 million, which included a salary of $801,450, vested stock valued at around $968,641, and additional compensation. This hefty package was tied to the company's impressive performance, where they exceeded their EBITDA goals for the year. In contrast, his compensation for 2019 was significantly lower at about $2.9 million, reflecting the phased transition into the CEO role and the performance-related bonuses he could not capitalize on fully that year. Romanzi's earning structure aimed to align his interests with company performance, emphasizing that a significant portion of his pay depended on achieving specific financial targets. Despite his successes, there were periods where performance bonuses didn't materialize due to unmet metrics, underscoring the risks and dynamics of executive compensation.

Year

2020

Total Compensation

$1.19M

Salary

$801.45K

Board Justification

The compensation committee aims to provide incentives for superior performance in a given year and over a sustained period by paying fair, reasonable and competitive compensation, and by basing a significant portion of our total compensation package upon achieving that performance.

Bonus

$0.00

Board Justification

Pursuant to the terms of his separation agreement, Mr. Romanzi was deemed to have achieved his individual objectives at an achievement percentage of 100%, and therefore, based upon our company's achievement of the maximum performance objective, received 100% of his maximum bonus award under the annual bonus plan for fiscal 2020.

Other

$57.44K

Board Justification

Includes salary continuation payments, automobile allowance, and other post-employment benefits.

Restricted Stock

$326.24K(968.64K RSU)

Board Justification

The stock awards include the aggregate grant date fair value of performance share LTIAs granted in that year reduced by the present value of expected dividends using the risk-free interest-rate, and the aggregate grant date fair value of restricted stock, if any, granted in that year.

Performance Metrics

The fiscal 2020 adjusted EBITDA (net of acquisition financing costs) threshold, target and maximum performance objectives were $287.4 million, $302.5 million and $326.7 million. Our company's fiscal 2020 adjusted EBITDA (net of acquisition financing costs) of $360.3 million exceeded the maximum performance objective amount.

Other B&G Foods CEOs

Here are other CEOs of B&G Foods

Robert C. Cantwell

Ex-CEO of B&G Foods

January 2015 - April 2019

David L. Wenner

Ex-CEO of B&G Foods

November 2020 - June 2021