IRVINE, Calif., March 29, 2023 (GLOBE NEWSWIRE) -- Advantage Solutions Inc. (NASDAQ: ADV) (“Advantage” or the “Company”), a leading provider of outsourced sales and marketing services to consumer goods manufacturers and retailers, today announced the hires of Jack Pestello as chief operating officer of branded services and Francesco Tinto as chief digital officer, both reporting to Advantage CEO Dave Peacock.
Pestello joins Advantage with 30 years of global retail experience, including building and executing innovative merchandising programs. As COO of branded services, Pestello will lead Advantage Sales, which provides industry-leading headquarter sales services, retail services and business process outsourcing for brands and retailers across all channels of trade in the U.S. and Canada. He most recently served as a senior advisor in Boston Consulting Group’s consumer practice, partnering primarily with retail and manufacturing CEOs on growth strategies, operational and organizational design, merchandising, sustainability and product development. Pestello was previously an executive vice president and chief merchandising officer at Big Lots, where he led the omnichannel merchant team and was responsible for buying, planning, financial services, pricing and promotions. He spent seven years with Walmart, where as senior vice president and general manager for grocery, he oversaw a $66 billion omnichannel portfolio across the company’s largest merchandise division and was honored as a Walmart “SVP of the Year.” His global experience includes serving as the head of trade for Woolworth’s Australia Limited, where he led the grocery team for Australia’s largest supermarket business and managed and sourced the private brand portfolio. Pestello’s early career includes 20 years at Daymon in roles leading new business development, international operations and private brands.
As Advantage’s chief digital officer, Tinto will oversee the company’s information technology team and Advantage Intelligence, a portfolio of software solutions and services that turn data into problem-solving insights and strategies that drive demand, distribution and supply chain efficiencies. His 30 years of technology experience includes leadership roles at some of the world’s most iconic brands, including Kraft Heinz Company, Procter & Gamble and Walgreens Boots Alliance, where he most recently served as global chief information officer. In that role, Tinto oversaw the company’s digital transformation, launching a new digital experience and customer insights platform that delivered personalized offerings and blended online and offline customer experiences. Earlier, he was the global chief information officer for Kraft Heinz, where he led the complete technology integration for the merger between Kraft Foods and Heinz, defining streamlined operating processes and implementing system, application and product solutions. Prior to that, Tinto spent more than a decade in information services and technology leadership roles at Procter & Gamble, where he was based in Rome. His areas of expertise include data analytics, business intelligence, consumer solutions development, business process optimization and technical services.
“Jack and Francesco each have long histories of leading high-performing teams, streamlining processes and innovating for the future,” Peacock said. “I’m excited to welcome them to Advantage and am looking forward to the immediate value they will add to our leadership team and to our company as we work to better enable the organization to evolve, drive growth and deliver strong results.”
About Advantage Solutions
Advantage Solutions (NASDAQ: ADV) is a leading provider of outsourced sales and marketing solutions to consumer goods companies and retailers. Our data- and technology-driven services — which include headquarter sales, retail merchandising, in-store and online sampling, digital commerce, omnichannel marketing, retail media and others — help brands and retailers of all sizes get products into the hands of consumers, wherever they shop. As a trusted partner and problem solver, we help our clients sell more while spending less. Headquartered in Irvine, California, we have offices throughout North America and strategic investments in select markets throughout Africa, Asia, Australia and Europe through which we serve the global needs of multinational, regional and local manufacturers. For more information, please visit advantagesolutions.net.
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking statements within the meaning of the federal securities laws, including statements regarding expected leadership, contributions and potential success of the Company’s new executives. Forward-looking statements generally relate to future events or Advantage’s future financial or operating performance. These forward-looking statements generally are identified by the words “may”, “should”, “expect”, “intend”, “will”, “would”, “could”, “estimate”, “anticipate”, “believe”, “predict”, “confident”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Advantage and its management at the time of such statements, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, market-driven wage changes or changes to labor laws or wage or job classification regulations, including minimum wage; the COVID-19 pandemic and the measures taken in response thereto; the availability, acceptance, administration and effectiveness of any COVID-19 vaccine; Advantage’s ability to continue to generate significant operating cash flow; client procurement strategies and consolidation of Advantage’s clients’ industries creating pressure on the nature and pricing of its services; consumer goods manufacturers and retailers reviewing and changing their sales, retail, marketing and technology programs and relationships; Advantage’s ability to successfully develop and maintain relevant omni-channel services for our clients in an evolving industry and to otherwise adapt to significant technological change; Advantage’s ability to maintain proper and effective internal control over financial reporting in the future; potential and actual harms to Advantage’s business arising from the Take 5 Matter; Advantage’s substantial indebtedness and our ability to refinance at favorable rates; and other risks and uncertainties set forth in the section titled “Risk Factors” in the Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on March 1, 2023, and in its other filings made from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Advantage assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Media Contact:
press@advantagesolutions.net
Investor Relations Contact:
Kimberly Esterkin
Addo Investor Relations
investorrelations@advantagesolutions.net
310-829-5400
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c2a8e95-72de-4fe9-914a-c6a7fe301043
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9a88b50-e0d1-44c5-88c5-ce3aae53f29b
