Paul Altobelli inherited a 52-year old industry-leading company. However, it was bleeding financially and their core brand was stagnant. As newly appointed President, Paul initiated a thorough review and realized that additional revenue streams and volume were required to drive down operating costs. He also saw possibilities for new market development and expansion. Paul instructed his team to begin to rebrand the company and to initiate soliciting new clients.
Paul Altobelli, Senior Leadership Executive
Under Paul’s leadership, the new branding and marketing was complete just as the pandemic hit. The pandemic drove an immediate change in the purchasing habits of the country. Frozen food sales witnessed a 20-30% increase in velocity as people stocked their freezers to limit outside interactions.
The organization was now well positioned to take advantage of the rapid growth in frozen food sales. The new growth team was properly positioned and was awarded $100 million in new revenue. This included access to an additional $75 million serving big box frozen retailers. The new revenue stream was awarded as the core business saw revenue declines of 57%.
This success reinforced the direction to become a multifaceted CPG organization, not reliant on one revenue stream.
Under Paul’s transformational leadership, the sales team gained great success. Additionally, Paul realigned all departments including Customer Service, Procurement, Finance, Manufacturing, and Forecasting to create value streams dedicated to the specific clients and their contributing revenue streams.
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Contact Paul Altobelli via LinkedIn or his Career WebFolio.
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