Snyder-Lance CEO retiring later this year

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News,Business

CHARLOTTE, N.C. (AP) — The chairman of Charlotte snack-maker Snyder-Lance will retire later this year.

The Charlotte Observer reported (http://bit.ly/WHHeIs) that David Singer plans to step down in May, after the company's annual stockholder meeting.

President and chief operating officer Carl Lee Jr., will replace Singer.

Singer is also stepping down from the company's board.

He joined the board of Lance in 2003 and became CEO in 2005.

Singer and Lee put together a stock-for-stock merger in 2010 of Lance and Snyder's of Hanover, Pa. Lee was the CEO of Snyder's at the time.

Snyder-Lance is the nation's second-largest snake maker, with $1.6 billion in revenue in fiscal 2011.

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Information from: The Charlotte Observer, http://www.charlotteobserver.com

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