MGP Ingredients, Inc., a supplier of premium distilled spirits and specialty wheat proteins and starches, announced CEO Gus Griffin’s plans to retire. The board named David Colo, currently a director of MGP, as president and chief operating officer effective March 16 until he assumes the role of CEO upon Griffin’s retirement in May.
Griffin became CEO in July 2014. Under his leadership, the company developed and successfully implemented a new long-term strategic plan that produced significant improvements in the company’s financial results while also establishing a strong foundation for future growth. Griffin’s retirement timeline is consistent with the fixed term set out in his 2017 employment agreement, which permitted the Board to plan for an orderly succession.
Colo has served on the MGP Board since 2015 and will remain a director of the company. He has more than 30 years of leadership experience in general management, operations and supply chain management. Colo has served as president and chief executive officer of SunOpta Inc. and executive vice president and chief operating officer for Diamond Foods, Inc. Previously, Colo served in leadership roles in the consumer products division of Con-Agra Foods, Inc., and with Nestle-Purina Pet Care Company. Colo holds a Bachelor of Science, Agribusiness Economics, from Southern Illinois University.