WESTPORT, Conn., July 17, 2023 (GLOBE NEWSWIRE) — Compass Diversified (NYSE: CODI), an owner of leading middle market businesses, today announced that Geoffrey Feil has been named CEO of its subsidiary The Sterno Group Companies, LLC, a manufacturer and marketer of portable food warming systems, creative indoor and outdoor lighting, and home fragrance solutions for the foodservice industry and consumer markets. Concurrent with Mr. Feil’s appointment, Craig Carnes assumed the new role of Chief Customer Officer.
Mr. Feil has over 20 years of business leadership and management experience, holding previous roles in brand management, sales and marketing, and mergers and acquisitions. As CEO, he will work to build upon Sterno’s 100-year legacy and leading brand position to accelerate its sales and marketing efforts, new product innovation, and operational excellence across foodservice and retail end-markets.
Mr. Feil joins Sterno having previously served as Senior Vice President and General Manager with Newell Brands (Nasdaq: NWL), where he was responsible for leading the North American Writing Business Unit and its portfolio of brands including Sharpie, Elmer’s, and PaperMate. Prior to that, he worked with Kraft Heinz (Nasdaq: KHC) for 13 years and held private equity and investment banking roles with William Blair Capital Partners and Goldman Sachs, respectively. Mr. Feil holds both an M.B.A. and a B.A. from the University of Michigan.
“Geoff is a seasoned industry veteran with vast experience leading consumer-facing brands, and we are excited to welcome him to the team,” said Elias Sabo, CEO of CODI. “He possesses an extensive background in managing and growing leading consumer packaged goods brands, and his unique and broad consumer experience, paired with his brand management experience and strategic mindset, give us confidence in his ability to lead Sterno in its next phase of growth. On behalf of CODI, we want to thank Craig for his dedication and contribution to the success of Sterno during his 15-year tenure.”
Zach Sawtelle, Chairman of Sterno’s Board of Directors added: “We are very proud to have leaders of both Geoff and Craig’s caliber at Sterno, and we are grateful for Craig’s stewardship of the business, especially in the face of significant disruptions across the foodservice industry during the COVID-19 pandemic. We believe the business remains well-positioned as this market continues to recover, and we believe Sterno has a bright future ahead.”
Mr. Feil commented: “I’m excited for the opportunity to lead Sterno, which is an excellent business that possesses a capable team, strong foundation, and category leadership position. I look forward to contributing to the overall strategy and working together with the Sterno and CODI teams to unlock this brand’s full potential.”
About Compass Diversified
Since its founding in 1998, and IPO in 2006, CODI has consistently executed on its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the niche industrial, branded consumer and healthcare sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.
About The Sterno Group
Headquartered in Plano, TX, The Sterno Group is the parent company of Sterno and Rimports who are the leading manufacturers and marketers of portable food warming products, creative indoor and outdoor lighting, and home fragrance solutions for the foodservice industry and consumer markets. The Sterno Group is a subsidiary of Compass Diversified (NYSE: CODI). For more information, please visit sterno.com.
