Diamond ditches top brass after accounting scandal
As Kellogg celebrated its Pringles buy, former suitor Diamond Foods announced it had removed its chief executive and chief financial officer over improper accounting on walnut payments: Pringles deal ‘dead’: Diamond Foods ditches top brass over shady walnut accounts
Its woes continued in June after bosses received a delisting letter from Nasdaq for failing to meet the deadline for filing financial reports: Diamond Foods faces Nasdaq delisting as it misses filing deadline
However, new boss - and former Hostess Brands ceo - Brian Driscoll was more upbeat about the company's prospects by November, when he announced a strategic re-think for key brands including Emerald Nuts and Kettle Chips:Diamond Foods CEO: Heavy discounting on Kettle Chips damaged its brand equity
While its full year results made for depressing reading, the future looks bright for the firm, insisted Driscoll in December after unveiling a $86.3m net loss on a 2% rise in sales to $981.4m for the year to July 31: Diamond Foods: Our 2012 losses do not reflect our recent change in strategic direction