Flowers Foods Management

Management criteria checks 3/4

Flowers Foods' CEO is A. McMullian, appointed in May 2019, has a tenure of 4.92 years. total yearly compensation is $6.39M, comprised of 14.9% salary and 85.1% bonuses, including company stock and options. directly owns 1.33% of the company’s shares, worth €64.50M. The average tenure of the management team and the board of directors is 4.3 years and 6.5 years respectively.

Key information

A. McMullian

Chief executive officer

US$6.4m

Total compensation

CEO salary percentage	14.9%
CEO tenure	4.9yrs
CEO ownership	1.3%
Management average tenure	4.3yrs
Board average tenure	6.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has A. McMullian's remuneration changed compared to Flowers Foods's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 30 2023	US$6m	US$954k	US$123m
Oct 07 2023	n/a	n/a	US$136m
Jul 15 2023	n/a	n/a	US$224m
Apr 22 2023	n/a	n/a	US$214m
Dec 31 2022	US$6m	US$918k	US$228m
Oct 08 2022	n/a	n/a	US$219m
Jul 16 2022	n/a	n/a	US$217m
Apr 23 2022	n/a	n/a	US$220m
Jan 01 2022	US$6m	US$896k	US$206m
Oct 09 2021	n/a	n/a	US$223m
Jul 17 2021	n/a	n/a	US$228m
Apr 24 2021	n/a	n/a	US$230m
Jan 02 2021	US$5m	US$726k	US$152m
Oct 03 2020	n/a	n/a	US$99m
Jul 11 2020	n/a	n/a	US$98m
Apr 18 2020	n/a	n/a	US$93m
Dec 28 2019	US$4m	US$641k	US$165m

Compensation vs Market: A.'s total compensation ($USD6.39M) is above average for companies of similar size in the German market ($USD3.42M).

Compensation vs Earnings: A.'s compensation has been consistent with company performance over the past year.

CEO

A. McMullian (53 yo)

4.9yrs

Tenure

US$6,393,040

Compensation

Mr. A. Ryals McMullian, Jr., serves as Chairman of Board at Flowers Foods, Inc. since May 25, 2023. He is Chief Executive Officer of Flowers Foods, Inc. since May 23, 2019, served as its President since Ma...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
A. McMullian	CEO & Chairman of Board	4.9yrs	US$6.39m	1.33% $ 64.5m
Heeth Varnedoe	President & COO	1.3yrs	US$1.78m	0.024% $ 1.2m
R. Kinsey	CFO & Chief Accounting Officer	16.6yrs	US$2.29m	0.21% $ 10.4m
Stephanie Tillman	Chief Legal Counsel & Corporate Secretary	4.3yrs	US$1.57m	0.024% $ 1.2m
Terry Thomas	Chief Growth Officer	less than a year	US$3.34m	0.020% $ 981.3k
Mark Chaffin	Chief Information Officer	4.2yrs	no data	0.022% $ 1.1m
Eric Jacobson	Vice President of Investor Relations & ESG	no data	no data	no data
Brenda Smith	Compliance Manager	no data	no data	no data
Mary Krier	Senior Vice President of Communications & Corporate Responsibility	7.8yrs	no data	no data
Mark Gerrish	Vice President of Corporate Development	no data	no data	no data
Cindy Cox	Chief Human Resources Officer	1.2yrs	no data	0.0035% $ 170.7k
David Roach	Chief Strategic Projects Officer	6.9yrs	no data	0.066% $ 3.2m

4.3yrs

Average Tenure

53.5yo

Average Age

Experienced Management: FWF's management team is considered experienced (4.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
A. McMullian	CEO & Chairman of Board	4.7yrs	US$6.39m	1.33% $ 64.5m
George Deese	Independent Non-Executive Director	19.8yrs	US$296.76k	1.45% $ 70.5m
James Spear	Independent Director	9.3yrs	US$267.51k	0.040% $ 2.0m
Edward Casey	Independent Director	3.7yrs	US$255.09k	0.0096% $ 466.9k
C. Wood	Independent Director	23.1yrs	US$267.51k	3.69% $ 178.9m
Melvin Stith	Independent Director	19.8yrs	US$255.09k	0.022% $ 1.1m
Thomas Chubb	Independent Presiding Director	3.7yrs	US$278.43k	0.017% $ 810.6k
Margaret Lewis	Independent Director	9.9yrs	US$282.40k	0.032% $ 1.5m
Joanne Smith	Independent Director	less than a year	US$128.36k	no data
Rhonda Gass	Independent Director	8.3yrs	US$274.26k	0.021% $ 1.0m
William McFadden	Independent Director	3.3yrs	US$264.05k	0.31% $ 14.9m
Brigitte King	Independent Director	less than a year	US$128.36k	no data

6.5yrs

Average Tenure

64yo

Average Age

Experienced Board: FWF's board of directors are considered experienced (6.5 years average tenure).

Flowers Foods Management

Management criteria checks 3/4

Key information

Recent management updates

Flowers Foods, Inc., Annual General Meeting, May 23, 2024

Chief Growth Officer recently sold €773k worth of stock

Insufficient new directors

Flowers Foods, Inc. Announces Management Changes

Insider recently sold €319k worth of stock

Flowers Foods, Inc. Names Cindy Cox Chief Human Resources Officer, Effective Feb. 6, 2023

Recent updates

Flowers Foods, Inc., Annual General Meeting, May 23, 2024

Chief Growth Officer recently sold €773k worth of stock

Fourth quarter dividend of US$0.23 announced

Full year 2023 earnings released: EPS: US$0.58 (vs US$1.08 in FY 2022)

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on March 15, 2024

New minor risk - Earnings quality

Flowers Foods, Inc. Revenue Earnings Guidance for the Fiscal Year 2024

Full year 2023 earnings released: EPS: US$0.58 (vs US$1.08 in FY 2022)

Flowers Foods, Inc. to Report Q4, 2023 Results on Feb 08, 2024

Upcoming dividend of US$0.23 per share at 4.4% yield

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on December 15, 2023

Flowers Foods, Inc. Revises Earnings Guidance for the 52-Week Fiscal 2023

Flowers Foods, Inc. Revises Earnings Guidance for the 52-Week Fiscal 2023

New minor risk - Earnings quality

Flowers Foods, Inc. to Report Q3, 2023 Results on Nov 09, 2023

Insufficient new directors

Upcoming dividend of US$0.23 per share at 3.9% yield

Flowers Foods, Inc. Announces Management Changes

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on September 15, 2023

Flowers Foods, Inc. Revises Earnings Guidance for the Year 2023

Flowers Foods, Inc. to Report Q2, 2023 Results on Aug 10, 2023

Now 20% undervalued after recent price drop

Insider recently sold €319k worth of stock

Now 20% undervalued after recent price drop

Upcoming dividend of US$0.23 per share at 3.5% yield

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on June 22, 2023

First quarter 2023 earnings released: EPS: US$0.33 (vs US$0.40 in 1Q 2022)

Flowers Foods, Inc. Provides Earnings Guidance for the Fiscal Year 2023

Flowers Foods, Inc. to Report Q1, 2023 Results on May 18, 2023

Upcoming dividend of US$0.22 per share at 3.1% yield

Flowers Foods Declares Quarterly Dividend, Payable on March 17, 2023

Full year 2022 earnings released: EPS: US$1.07 (vs US$0.97 in FY 2021)

Flowers Foods, Inc. Provides Earnings Guidance for the 52-Week Period of Fiscal Year 2023

Flowers Foods, Inc. Names Cindy Cox Chief Human Resources Officer, Effective Feb. 6, 2023

Flowers Foods, Inc. to Report Q4, 2022 Results on Feb 09, 2023

Independent Director recently bought €53k worth of stock

Flowers Foods, Inc. (NYSE:FLO) agreed to acquire Papa Pita Bakery.

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on December 16, 2022

Third quarter 2022 earnings released: EPS: US$0.19 (vs US$0.18 in 3Q 2021)

Third quarter 2022 earnings released: EPS: US$0.19 (vs US$0.18 in 3Q 2021)

Flowers Foods, Inc. Revises Earnings Guidance for the Fiscal Year 2022

Flowers Foods, Inc. to Report Q3, 2022 Results on Nov 10, 2022

President recently sold €3.9m worth of stock

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on September 16, 2022

Flowers Foods Names David Roach as Chief Strategic Projects Officer

Second quarter 2022 earnings released: EPS: US$0.25 (vs US$0.27 in 2Q 2021)

Flowers Foods, Inc. Announces Revenue Guidance for the 52 Week of Fiscal 2022

Flowers Foods, Inc. to Report Q2, 2022 Results on Aug 11, 2022

President recently sold €1.9m worth of stock

Upcoming dividend of US$0.22 per share

Flowers Foods, Inc. Announces Management Changes

Flowers Foods, Inc. Declares Quarterly Dividend, Payable on June 23, 2022

First quarter 2022 earnings released: EPS: US$0.40 (vs US$0.34 in 1Q 2021)

Flowers Foods, Inc. Announces Revenue Guidance for the 52 Week of Fiscal 2022

Flowers Foods, Inc. to Report Q1, 2022 Results on May 19, 2022

High number of new directors

Flowers Foods, Inc., Annual General Meeting, May 26, 2022

Upcoming dividend of US$0.21 per share

Flowers Foods, Inc Declares Quarterly Dividend, Payable on March 18, 2022

Flowers Foods, Inc. Provides Sales Guidance for the Fiscal 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Flowers Foods, Inc. to Report Q4, 2021 Results on Feb 10, 2022

Insider recently sold €69k worth of stock

Upcoming dividend of US$0.21 per share

Third quarter 2021 earnings released: EPS US$0.18 (vs US$0.21 in 3Q 2020)

Flowers Foods, Inc. Revises Earnings Guidance for the Fifty Two Weeks Fiscal 2021

Second quarter 2021 earnings released: EPS US$0.27 (vs US$0.27 in 2Q 2020)

Flowers Foods, Inc.(NYSE:FLO) dropped from Russell 1000 Dynamic Index

Flowers Foods, Inc. (NYSE:FLO) acquired Assets of Koffee Kup Bakery, Inc.