Exhibit 99.1
[LETTERHEAD OF UNITED NATURAL FOODS, INC.]
FOR IMMEDIATE RELEASE
December 8, 2005
UNITED NATURAL FOODS, INC. NAMES
THOMAS B. SIMONE CHAIR OF THE BOARD OF DIRECTORS AND
ANNOUNCES SENIOR MANAGEMENT PROMOTIONS
Richard Antonelli, Daniel Atwood and Rick Puckett Assume Broader Roles
Building Management Depth and Strengthening Company's Focus on Growth
2005 Annual Meeting Results Announced
Dayville, Connecticut - December 8, 2005 - United Natural Foods, Inc. (Nasdaq:
UNFI) announced that during today's Board of Directors meeting, Thomas B. Simone
was elected Chair of the Board of Directors. Mr. Simone, Lead Independent
Director since December 2003 and a member of the Board of Directors since
December 1996, previously served as Chair of the Board of Directors from
December 1999 until December 2002. Mr. Simone, age 63, had also served in the
capacity of Vice Chair of the Board of Directors since January 2003.
As previously announced in October 2005, Steven H. Townsend, who has served as
Chair of the Board of Directors since December 2003, stepped down from the Chair
position as the final component of his retirement. Mr. Townsend, who has been
affiliated with United Natural Foods and its predecessors since 1979, will
continue to provide strategic insight and counsel to the Company in a consultant
role through 2007.
United Natural Foods' Board of Directors consists of 7 members, 5 of whom are
independent.
Building the Strength and Depth of Management
The Company also announced three key management promotions, effective
immediately, designed to build management depth and strengthen the Company's
focus on growth. In their expanded roles, all three gentlemen will report
directly to Michael S. Funk, President and CEO of United Natural Foods.
Richard Antonelli has been promoted from President of United Distribution to
Executive Vice President, Chief Operating Officer and President of Distribution.
In the newly created Chief Operating Officer position, Mr. Antonelli will
oversee all of the Company's distribution divisions, including broadline
distribution, Albert's Organics, Inc. and Select Nutrition Distributors, Inc.
Daniel V. Atwood has been promoted from Senior Vice President of Marketing to
Executive Vice President, Chief Marketing Officer and President of United
Natural Brands. Mr. Atwood will also remain as the Corporate Secretary. In the
newly created Chief Marketing Officer position, Mr. Atwood will oversee the
Company's overall marketing initiatives. As President of the United Natural
Brands, Mr. Atwood will lead the Company's brand development. Mr. Atwood will
also oversee the Company's subsidiaries, Hershey Import Company, Inc. and
Natural Retail Group, Inc.
Rick D. Puckett, Vice President, Chief Financial Officer and Treasurer, has been
promoted from Vice President to Executive Vice President. He has served as Vice
President, Chief Financial Officer and Treasurer since January 2003. Mr. Puckett
will also oversee the information technologies function.
In making the announcements, Michael S. Funk, President and CEO, commented,
"United Natural Foods is experiencing accelerating growth and increased market
share, reflecting our ability to capitalize on growing trends in the natural and
organic industry. We are pleased to announce the appointments of Richard, Dan
and Rick, which builds the strength and depth of our management team and helps
sustain our momentum in 2006 and beyond. They are all exceptional leaders and we
look forward to their continued contributions in ensuring operational excellence
and delivering results to all of our constituencies."
Appointees Background
Mr. Antonelli, age 48, has served as a member of the Board of Directors since
December 2003 and as President of United Distribution since October 2004. Mr.
Antonelli served as President of the Company's Western Region from January 2004
to October 2004 and as President of the Company's Eastern Region from September
2002 to December 2003. Mr. Antonelli served as president of Fairfield Farm
Kitchens, a Massachusetts-based custom food manufacturer from August 2001 until
August 2002. Mr. Antonelli served as Director of Sales for United Natural Foods,
and its predecessor company, from 1985 until July 2001.
Mr. Atwood, age 47, has served as the Company's Senior Vice President of
Marketing since October 2002 and as Secretary since January 1998. Mr. Atwood
served as United's National Vice President of Marketing from April 2001 until
October 2002. Mr. Atwood served on the Board of Directors of United's
predecessor company, Cornucopia Natural Foods, from August 1988 until October
1996 and served on the Company's Board of Directors from November 1996 until
December 1997. Mr. Atwood served as President of United's Natural Retail Group
from August 1995 until March 2001.
Mr. Puckett, age 52, prior to joining United in 2003 worked for Suntory Water
Group where he held executive positions including Chief Financial Officer,
Corporate Controller, and Vice President Business Development. Mr. Puckett also
worked for infoUSA as Vice President and Corporate Controller and for a limited
time as acting Chief Financial Officer. Prior to infoUSA, Mr. Puckett worked for
Dairy Enterprises, Electrocomponents USA and General Cable Corporation where he
held various executive and senior level financial positions. Mr. Puckett has a
CPA certification from the state of New Jersey and an MBA in Finance from the
Gatton College of Business and Economics at the University of Kentucky.
Annual Meeting Results
The Company also announced the results of its Annual Meeting of Stockholders,
held Thursday, December 8, 2005 at the Providence Marriott Downtown, located at
1 Orms Street, Providence, Rhode Island. Stockholders approved the three
proposals on the proxy statement:
o The amendment to the Company's Amended and Restated Certificate of
Incorporation to increase the number of authorized shares of common
stock from 50,000,000 to 100,000,000 shares;
o The ratification of the selection of KPMG LLP as the Company's
independent registered public accounting firm for fiscal 2006; and
o The re-election of two incumbent directors, Michael S. Funk and
James P. Heffernan, to serve as Class III directors until the
Company's 2008 Annual Meeting of Stockholders. The Board presently
consists of three classes of directors, each elected for a
three-year term.
Stockholders can access a webcast replay of the annual meeting via the Investor
Relations section of the Company's website at http://www.unfi.com. United
Natural Foods will replay the webcast on their website through January 8, 2006.
About United Natural Foods
United Natural Foods, Inc. carries and distributes more than 40,000 products to
more than 20,000 customers nationwide. The Company serves a wide variety of
retail formats including conventional supermarket chains, natural product
superstores, independent retail operators and the food service channel.
For more information on United Natural Foods, Inc., visit the Company's website
at www.unfi.com.
AT THE COMPANY: FINANCIAL RELATIONS BOARD
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Rick Puckett Joseph Calabrese
Chief Financial Officer General Information
(860) 779-2800 (212) 827-3772
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Statements in this press release regarding the Company's business that are
not historical facts are "forward-looking statements" that involve risks and
uncertainties. For a discussion of such risks and uncertainties, which could
cause actual results to differ from those contained in the forward-looking
statements, including but not limited to general business conditions, the impact
of competition and our dependence on principal customers, see "Risk Factors" in
the Company's quarterly report on Form 10-Q filed with the Commission on
December 7, 2005, and its other filings under the Securities Exchange Act of
1934, as amended. Any forward-looking statements are made pursuant to the
Private Securities Litigation Reform Act of 1995 and, as such, speak only as of
the date made. The Company is not undertaking to update any information in the
foregoing reports until the effective date of its future reports required by
applicable laws. Any projections of future results of operations should not be
construed in any manner as a guarantee that such results will in fact occur.
These projections are subject to change and could differ materially from final
reported results. The Company may from time to time update these publicly
announced projections, but it is not obligated to do so.