Lancaster Colony announces retirement of CFO John L. Boylan, effective July 1; Douglas A. Fell to succeed him
June 19, 2014
– Lancaster Colony Corporation (Nasdaq: LANC) (the "Company") has announced that John L. Boylan, Treasurer, Vice President, Assistant Secretary and Chief Financial Officer (CFO), has notified the Company's Board of Directors of his intention to retire on July 1, 2014 after 28 years of service with Lancaster Colony, including 17 years as CFO. Douglas A. Fell, 52, currently Senior Vice President of Finance of T. Marzetti Company, a wholly-owned subsidiary of the Company, will succeed Mr. Boylan as Treasurer, Vice President, Assistant Secretary and CFO, effective July 1, 2014. Mr. Boylan will continue to serve in an advisory capacity to the Company through a brief transitional period. He will also remain a member of the Company's Board of Directors.
"Doug has a deep knowledge and understanding of both the financial and operational aspects of our food business," said John B. Gerlach, Jr., Lancaster Colony's Chairman and Chief Executive Officer. "I am confident that Doug has the right combination of talent and experience to provide strong financial leadership and guidance that will facilitate our growth in the years to come."
Mr. Fell joined Lancaster Colony in 1993, and most recently has held various leadership positions within the Company's food group involving the group's finance, information technology and operations. Since 2012, he has overseen the food group's finance and information technology functions. Mr. Fell also served as Lancaster Colony's Corporate Controller from 1993 to 1996. Prior to his employment with Lancaster Colony, Mr. Fell was a Senior Audit Manager with Deloitte and Touche.
Mr. Gerlach also expressed his appreciation for Mr. Boylan's contributions to Lancaster Colony, "John has contributed greatly to our company's success over the years with his leadership and dedicated service. We wish John and his family the very best in his retirement."