Eric Beringause, the new chief executive officer of Dean Foods Co., says he knows the dairy business so well that his friends tell him he must have milk running through his veins.
He’ll need to use all that knowledge to pump some blood into the embattled milk processor.
Shares of the Dallas-based company fell the most on record Aug. 6 after it reported a bigger-than-expected quarterly loss and said it would burn cash this year. Americans are drinking less milk, losing market share even to water at grocery stores. Dean Foods bonds slumped to record lows as well.
Beringause, who ...
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