Flowers Foods, Inc., producer of Nature's Own, Wonder, Tastykake, Dave's Killer Bread, and other bakery foods, announced that Ryals McMullian, the company's chief operating officer, has been elected president and chief executive officer, effective as of the company's 2019 annual meeting of shareholders. The board of directors, in accordance with the company's management succession plan, elected McMullian following the decision by Allen L. Shiver, president and chief executive officer, to retire and step down from the board. To ensure a seamless transition, Shiver will continue to serve in his current position and as a board member until the annual meeting and will then serve as a non-executive special advisor to the company through the end of the year.

"Succession planning has long been an important priority for the board, and we are pleased to elect Ryals as Flowers Foods' next president and CEO," said Benjamin H. Griswold, IV, presiding director of Flowers' board. "Ryals has been a driving force behind the effort to grow the company into new areas we believe can enhance shareholder value and strengthen our competitive position. He has done an outstanding job aligning the team behind our strategic goals and pushing our efforts forward. We are confident he is the right choice to take the helm at this exciting and important time in our company's history."

Commenting on Allen Shiver's 41-year career with the company, George E. Deese, non-executive chairman of Flowers Foods' board of directors said, "Allen has been a strong advocate for our company and the baking industry. He has made significant contributions to the development of our brands and the growth of the company through key acquisitions, such as Dave's Killer Bread, and he led the team during the development and implementation of the company's strategic transformation under Project Centennial. On behalf of the board, I thank Allen for his many years of service. We look forward to continuing to work with him during the transition period."

Shiver said, "Over the past four decades, I have seen this company grow from a regional bakery to a national powerhouse, with leading brands and a strong foundation for future growth and value creation. Since 2017, our company has made great strides in establishing a strong team, and we are taking actions to improve efficiencies and enhance profitability. Ryals and I have worked closely together over the past few years, and I know I am leaving the company in very capable hands. It has truly been an honor and privilege to work with all the outstanding members of the Flowers team."

"I'm deeply honored to accept this responsibility," said Ryals McMullian. "I firmly believe in Flowers' vision and long-term strategic plan. We will leverage the power of our unique culture to foster an even greater sense of ownership, engagement, and accountability among all team members. We will continue to take the necessary steps to better position Flowers for future growth in a dynamic business environment by strengthening critical brand-building capabilities, moving into growing adjacent segments, and better leveraging our cost structure. I am energized by the exciting opportunities that lie ahead to grow shareholder value." 

McMullian, 49, joined Flowers Foods in 2003, and was named chief operating officer in July 2018. Since 2016, he has directed the company's transformation under Project Centennial. Prior to his current position, he served in roles of increasing responsibility, including deputy general counsel, vice president of mergers and acquisitions, and chief strategy officer.

Shiver, 63, joined the company in 1978, and has served as president and chief executive officer of Flowers Foods since 2013. He currently serves as an American Bakers Association (ABA) board member and has served as ABA's chairman of the board. He currently serves as co-chair of the Grain Foods Foundation Board of Trustees and on the Grocery Manufacturers Association's President's Advisory Council and Industry Affairs Council.