Snyder’s-Lance shares dive after CEO unexpectedly retires

Snyder’s-Lance shares dive after CEO unexpectedly retires

Shares of Charlotte-based snack maker Snyder’s-Lance Inc. closed 15% lower Monday after the company unexpectedly announced that CEO Carl Lee Jr. had retired. Brian Driscoll, former CEO of Diamond Foods and a member of Snyder’s-Lance’s board, has stepped in as interim CEO. The manufacturer also said it has faced “difficult challenges” that have negatively impacted first-quarter earnings. Snyder’s-Lance is slated to report its first-quarter earnings on May 8.

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