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St. Louis-based Ralcorp Holdings Inc. announced that American Italian Pasta Company President Walter George will leave the company June 30 after the pasta business is moved into a single center-store private brand food business as part of a companywide restructuring.
George will work with Ralcorp Snacks, Sauces and Spreads President Richard Koulouris on the transition before leaving. The company made the announcement in an 8K filing with the Securities and Exchange Commission.
George’s planned departure comes as Ralcorp is merging its cereal, snacks, and pasta units into one division next year. Ralcorp Cereal President Ron Wilkinson announced his retirement effective at the end of September, which appears to leave Koulouris as the head of the new center-store division going forward.
Ralcorp said in the release that George will receive a $385,000 severance payment and has a 12-month non-compete clause from the time of his departure.