Mount Franklin Foods has named Chief Financial Officer Enrique Grajeda as president and ceo, effective July 1.
Grajeda succeeds Gary Ricco, who announced in May he’d retire this summer after eight years with the company. Ricco will serve on the board of directors and as an advisor to Grajeda and the management team.
Grajeda has served as cfo since October 2014, overseeing Mount Franklin’s accounting, finance, treasury, legal, internal audit, IT/MIS, customs and tax departments.
“Grajeda has done an excellent job leading the company’s merger and acquisitions initiatives where he has greatly influenced the success of the business,” said Eloy S. Vallina L., chairman of Mount Franklin’s board. “Furthermore, he has significantly increased the credit facilities which has allowed Mount Franklin Foods to secure the capital needed for on-going rapid growth.”
Prior to joining Mount Franklin Foods, Grajeda held major roles in companies such as Helen of Troy, AVX Corporation, Philips/Magnavox and Rockwell International.
“As I look forward to becoming the new president and ceo of Mount Franklin Foods I couldn’t have done it without the amazing team we’ve put together,” Grajeda said. “The company is built on incredibly loyal team members and a very dedicated group of individuals in every facet of the business. As we look to continue our momentum from the last few years, I know one thing is for certain, the best is yet to come for Mount Franklin Foods.”
In May, Vallina thanked Ricco for his service to Mount Franklin Foods.
“During his tenure Gary built a strong team and spearheaded unprecedented growth in all facets of our business,” Vallina said. “The strategies he has put in place will provide a roadmap for increased revenue and continued profit growth at Mount Franklin in the years to come. The solid platform secured under his careful guidance offers an amazing opportunity for the next generation of senior leadership to continue our growth trajectory.”
The company announced in February its plans to open a 22,000-sq.-ft., state-of-the art manufacturing facility in San Jeronimo, Mexico. Slated to open in May 2020, the facility will house additional mogul production for soft candy items, such as gummies and jellies.