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    Charles P. Pizzi Named President and CEO of Tasty Baking Company

    PHILADELPHIA - Tasty Baking Company today announced that Charles P. Pizzi has been named president and CEO of the company, effective October 7, 2002.

    PHILADELPHIA - Tasty Baking Company today announced that Charles P. Pizzi has been named president and CEO of the company, effective October 7, 2002. Carl S. Watts, current chairman, president, and CEO of Tasty Baking Company, previously announced his retirement plans.

    "Charlie has tremendous leadership skills, integrity and a track record of success, not only as head of the region's Chamber of Commerce, but also as a leader known for innovation and creativity," Watts said. "We've carefully searched for my successor, and Charlie was the most impressive candidate we've met, and we welcome him on board."

    "Tasty Baking Company is a Philadelphia institution with a quality brand," said Pizzi. "It has a long history of integrity and good corporate citizenship, from its balance sheet to its community involvement. I feel fortunate to have this opportunity to help take Tasty Baking to a new level of success."

    After serving as Philadelphia's Commerce Director, Pizzi assumed the presidency of the Chamber in 1989. Since that time, he has tripled the revenue and expanded the organizations' operating reserves. Under his leadership, the Chamber has produced a surplus for 13 consecutive years.

    Watts said Pizzi will continue building upon Tasty Baking's current strategic plan of growing sales in the company's route operations, establishing alternative methods and channels of distribution, introducing new products and seeking strategic acquisitions.

    Tasty Baking Company is one of the largest independent baking companies in the United States, and is the leading snack cake provider in the Mid-Atlantic region. The company operates bakeries in Philadelphia and Oxford, Pa., and distributes its popular Tastykake products in 49 states.

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