Household products manufacturer Sun Products appoints CEO Jeffrey Ansell as chairman of the board; Chairman Neil P. Defeo to step down but will remain as non-executive director
January 25, 2012
– The Sun Products Corporation, a leading North American manufacturer and marketer of fabric care and household care products, today announced that Jeffrey Ansell, currently President and CEO, has been named Chairman of the Board, effective immediately.
Mr. Ansell succeeds Neil P. Defeo who is stepping down as Chairman but will remain on the Board as a non-executive Director.
Mr. Ansell joined Sun Products in spring, 2011 as President and Chief Executive Officer and will continue in these roles. He has redefined the company's strategy, created a more robust foundation upon which Sun Products can flourish, and strengthened the brand portfolio through innovation.
Dan O'Connell, Chief Executive Officer of majority shareholder Vestar Capital Partners said, "Jeff has demonstrated strong leadership and moved Sun Products forward since joining as President and Chief Executive Officer last year. His knowledge of and passion for the category will bode well in his extended role as Chairman of the Board.
"Neil Defeo played a critical role partnering with us on the formation of Sun Products in 2008 and launched the company as a leading player in the fabric care and household care market," Mr. O'Connell added. "I am pleased that we will continue to benefit from Neil's tenure and experience as a member of the Board of Directors."
Commenting on his appointment, Jeff Ansell said, "I am honored to have been named Chairman. I thank the Board for this great opportunity and look forward to leading Sun Products on its exciting growth journey."
"We were fortunate in selecting Jeff last year as President and CEO," said former chairman of Sun Products Neil DeFeo. "Jeff brings extensive CPG experience in growing brands, and his strategic focus, together with his substantial business knowledge, will drive the company forward. I leave my position with great confidence in Jeff's leadership to take the Company to the next level."
Mr. Ansell most recently served for three years as Chief Executive Officer and member of the Board of Directors of Pinnacle Foods Group, a $2 billion company of iconic packaged foods brands. Prior to this, he was a Corporate Officer at Procter & Gamble, where he worked for 25 years, with his last seven years at P&G as President of the Iams Pet Care subsidiary.
Mr. Ansell serves on the Board of Directors of SymphonyIRI Group, as well as the Grocery Manufacturers Association (GMA). He is a graduate of the Indiana University Kelley School of Business, where in 2010 he was appointed to the Dean's Council Advisory Board.
About The Sun Products Corporation
The Sun Products Corporation headquartered in Wilton, Connecticut, is a leading North American provider of laundry detergent, fabric softeners and other household products. With annual sales of $2 billion, the Company's portfolio of products are sold under well known brands that include all(R), Wisk(R), Snuggle(R), Sun(R), Surf(R), and Sunlight(R). In addition, Sun Products is the manufacturing partner for many retailer brand laundry and dish products in North America. For more information visit: www.sunproductscorp.com
About Vestar Capital Partners
Vestar is a leading private equity firm specializing in management buyouts and growth capital investments with $7 billion in assets under management. The firm targets companies in North America with valuations of $250 million to $3 billion in four key industry sectors: Consumer, Diversified Industries, Healthcare and Digital Media, and Financial Services. Vestar invests and collaborates with incumbent management teams, family owners or corporations in a creative, flexible and entrepreneurial way to build long-term franchise and enterprise value. Since the firm's founding in 1988, the Vestar funds have completed more than 70 investments in companies with a total value of more than $30 billion. Vestar has offices in New York, Boston and Denver.