Galaxy Nutritional Foods, a producer of nutritious plant-based dairy alternatives for the retail and foodservice markets, announced the appointment of Michael E. Broll as its chief executive officer. Broll has been a member of Galaxy's board of directors since December 2003 and replaces Christopher J. New, as Galaxy's chief executive officer. New, who has been with Galaxy through its restructuring since September 2001, has resigned in order to pursue other opportunities.
New commented, "My role as a change agent within this organization has been fulfilled. I came to Galaxy with the objective of building a team that would be instrumental in reaching long-term profitable growth. This challenge involved repositioning Galaxy's core brands and completing an organizational and financial restructuring in conjunction with our chief financial officer, and financial and legal advisors. I'm pleased that Galaxy is now poised for future growth in net sales and net income, and is operating cash flow positive."