PARAMUS, N.J. (AP) — The chief financial officer at Smart Balance has resigned, the food company said Friday, as it reaffirmed its 2011 and 2012 revenue outlooks.
CFO Alan Gever, whose resignation became effective Saturday, will be succeeded by Christine Sacco. She will also take on the role of treasurer. The 36-year-old previously served as vice president, controller and principal accounting officer and will continue as PAO on an interim basis.
Smart Balance still expects 2011 revenue between $266 million and $271 million and 2012 revenue in a range of $320 million to $330 million.
Analysts surveyed by FactSet predict 2011 revenue of $268.9 million and 2012 revenue of $323.8 million.
The company promoted Terry Schulke to president and chief operating officer. Schulke, 57, previously served as executive vice president and general manager of commercial operations. Smart Balance also promoted 56-year-old Peter Dray to chief innovation officer, having served as executive vice president of operations and product development.
Sacco, Schulke and Dray's promotions became effective Sunday.
Shares of Smart Balance Inc., based in Paramus, N.J., shed 3 cents to $5.18 in midday trading.