John B. Sanfilippo & Son, Inc. Announces CEO Transition and Leadership Changes

ELGIN, Ill.--(BUSINESS WIRE)--John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) today announced a CEO and leadership succession plan designed to ensure a seamless leadership transition and the continued execution of its strategic plan. Jeffrey T. Sanfilippo, Chairman of the Board of Directors and Chief Executive Officer, will transition to the role of Executive Chairman, effective October 1, 2026. In this capacity, Mr. Sanfilippo will continue to lead the Board of Directors and work closely with the executive team to support the Company’s strategic direction and long-term growth initiatives. The Board of Directors has appointed Jasper B. Sanfilippo Jr., currently President and Chief Operating Officer, as Chief Executive Officer, effective October 1, 2026.

In addition, Frank S. Pellegrino, currently Executive Vice President and Chief Financial Officer, has been promoted to President and Chief Financial Officer, effective October 1, 2026, expanding his leadership and operational responsibilities across the Company’s business.

“Today’s announcement reflects a thoughtful and deliberate succession planning process,” said Jeffrey T. Sanfilippo. “Jasper is an exceptional leader with deep operational expertise, has a strong strategic mindset, and a proven track record of execution. It has been a privilege to serve as CEO, and I am excited that Jasper has this opportunity to lead our Company. I look forward to supporting Jasper in his transition from COO to CEO and I have full confidence in his ability to lead us into our next phase of success and growth.”

Jeffrey Sanfilippo added, “I am equally excited about Frank’s promotion to President. Frank has been with JBSS for nearly 20 years and is a critical partner in supporting our financial discipline, guiding our strategic direction and the execution of our strategic priorities. His expanded role as President will further strengthen the alignment between our financial and operational priorities.”

Jasper B. Sanfilippo Jr. said, “It is an honor to succeed Jeffrey as CEO and continue the family legacy of running the company and to build on the strong foundation Jeffrey has established. JBSS has a talented leadership team and a clear strategy, and I look forward to working with Frank and the entire organization to continue delivering value for our stockholders, customers, and employees.”

Frank Pellegrino commented, “It is a tremendous honor to be named President of JBSS, and I deeply appreciate the trust and confidence that the Board has placed in me. I am excited to take on this expanded role and continue partnering with Jasper and our leadership team to execute on our strategic priorities and drive sustainable growth.”

About John B. Sanfilippo & Son, Inc.

Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit products and snack bars, that are sold under the Company’s Fisher ®, Orchard Valley Harvest ®, Squirrel Brand ® and Southern Style Nuts ® brand names and under a variety of private brands.

Forward Looking Statements

Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will”, “intends”, “may”, “believes”, “anticipates”, “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut and bars categories generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients due to global conflict, tariffs and other import restrictions and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages or other disruptions in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities, our inability to meet or fulfill customer orders on a timely basis, if at all, or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; and (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change.