Bob Evans Farms CEO Steve Davis Steps Down - Quick Facts

(RTTNews) - Bob Evans Farms, Inc. (BOBE) said Steve Davis has stepped down as Chief Executive Officer and a director of the company, by mutual agreement with the company's Board of Directors.

While the official change will take place immediately, Davis will remain with the company through the end of the year to assist with the transition.

The company also announced that its Board has established an interim Office of the Chief Executive to provide ongoing leadership and oversight of the day-to-day operations while a search is conducted for a new CEO.

The Office of the CEO is to be filled by Mark Hood, Chief Financial Officer, and Mike Townsley, President of the Bob Evans Foods business unit. Both will remain in their current positions while carrying out their new responsibilities.

To provide support for the Office of the CEO, the Board also formed a Transition Committee, consisting of independent directors Mary Kay Haben, Doug Benham, and Larry McWilliams, with Ms. Haben serving as the Chair of the Committee. These leadership changes are effective immediately.

Bob Evans also announced that its Board has formed a CEO Search Committee to supervise the selection and evaluation by the Board of candidates for election as new CEO.

The Committee consists of independent directors Mary Kay Haben, Doug Benham, David Head, Kathy Lane, and Paul Williams, who will serve as Chair. The Committee will retain an executive search firm to assist it in conducting the search.

Mark Hood was named Chief Financial Officer of Bob Evans in June. Prior to that, he served as Senior Vice President and Chief Financial Officer of the Brown Shoe Co. (BWS), a $2.6 billion operator of retail shoe stores and marketer of footwear, from 2006 to 2012.

Previously, he served as Senior Vice President and Chief Financial Officer with Panera Bread Co., a quick-casual restaurant business, from 2003 to 2006, after joining that firm in 2002.

Mike Townsley was named President of the Bob Evans Foods business unit in June 2008. He joined Bob Evans in 2003 as President and Chief Operating Officer of Owens Foods, a wholly owned subsidiary of Bob Evans Farms, Inc.

Previously, he was Senior Vice President of Sales and Marketing for Premium Standard Farms in Kansas City. His prior experience includes three years at Smithfield Foods, and 11 years with IBP Inc.