Rich Products announced on Tuesday that Richard Ferranti has been named president and COO.

Richard Ferranti

Ferranti becomes just the fourth president in the company's 73-year history, succeeding founder Bob Rich Sr., chairman Bob Rich Jr., and Bill Gisel, who recently announced a series of executive promotions the company says will add greater strategic depth to the executive leadership team.

"Richard brings a wide array of exceptional qualities to his new role, not the least of which is his passion to fulfill our mandate for Rich’s to achieve long-term success as a family business,” says Gisel. “We continue making changes today that will better position Rich’s for tomorrow. We could not be on a better path with Richard working closely with our executive team to chart our course for success as the next president of Rich Products."

As president, Ferranti takes on more direct leadership responsibility for the strategic priorities of the business, enabling Gisel to focus increased attention on Rich’s long-term direction and organizational excellence priorities. Ferranti also maintains his role as Chief Operating Officer, overseeing the performance of the company’s various food-related businesses in more than 100 countries.

“I am grateful to the Rich Family and Bill Gisel for the opportunities they have given me throughout my career to develop the necessary breadth and depth of experience required for this important leadership role,” says Ferranti, who has served in a series of progressive leadership roles since joining Rich’s in 1986. “As we look ahead to 2019 and beyond, we have enormous opportunities to grow our business by delivering even greater value to our customers across the globe. We know that if we continue to strengthen and accelerate our capabilities, we will be successful.”

In separate moves, Jeff Kim was promoted to president of global markets and Ray Burke, president of Rich's US-Canada region, was named to the company's executive leadership team.