SOURCE: Overhill Farms, Inc.

August 30, 2007 17:00 ET

Overhill Farms Announces Resignation of Its Chief Financial Officer

LOS ANGELES, CA--(Marketwire - August 30, 2007) - Overhill Farms, Inc. (AMEX: OFI) announced today that John L. Steinbrun has resigned as Chief Financial Officer, Senior Vice President and Chief Operating Officer, effective September 6, 2007. He has resigned from the Company's Board of Directors, effective today.

Mr. Steinbrun is leaving to assume the position of Chief Executive Officer of another Southern California company outside the food industry.

James Rudis, Chairman, President and Chief Executive Officer of Overhill Farms, said Tracy E. Quinn, an experienced food industry financial executive, will serve as Interim Chief Financial Officer. The Company is conducting a search for a permanent replacement.

Ms. Quinn filled various senior-level finance and operating positions for the H.J. Heinz Company, prior to taking early retirement in 2005 after 21 years with the company. At Heinz she served as Corporate Controller and Chief Accounting Officer; Vice President-Finance with its Frozen Foods division; Vice President-Strategy Development at the corporate level; Managing Director of its infant foods business unit; and chief financial officer or chief executive officer of various Heinz international operations.

Ms. Quinn, 52, who will assist the Company in its search for a new Chief Financial Officer, began her career as a CPA with what is now PriceWaterhouseCoopers.

"We believe Ms. Quinn will make a very significant contribution to Overhill Farms through her strong strategic and operational skills and experience as well as her financial acumen," said Mr. Rudis.

"We are also fortunate that our management team includes an experienced group of financial and operating professionals, including Andy Horvath, our former chief financial officer," Mr. Rudis said. "With our internal and external resources, we anticipate meeting our financial reporting and Sarbanes-Oxley reporting obligations as scheduled during this transition period."

Overhill Farms, based in Vernon, California, is a value-added supplier of custom high quality frozen foods to foodservice, retail and airline customers.

This news release contains disclosures that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs and include, but are not limited to, statements about the timing and quality of future services to be rendered to the Company by its current and future internal and external professionals, and the availability, adequacy and appropriate use of the Company's resources for timely complying with financial reporting and Sarbanes-Oxley Section 404 reporting requirements. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the company uses words such as "continue," "efforts," "expect," "believe," "anticipate," "confident," "intend," "strategy," "plan," "will," "estimate," "project," "goal," "target," "prospects," "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, changes in the Company's business environment and operations and the future availability and cost of internal and external resources; acts of terrorism or acts of war; changes in governmental laws and regulations; and other factors as may be discussed in the Company's Annual Report on Form 10-K for the year ended October 2, 2006, Quarterly Report on Form 10-Q for the quarter ended July 1, 2007 and other reports filed with the Securities and Exchange Commission.

Contact Information

  • Contacts:

    James Rudis
    Chairman, President and CEO
    Overhill Farms, Inc.

    Alexander Auerbach
    Auerbach & Co. Public Relations
    Email Contact