Dean Foods chief operating officer Scalzo gets additional title of company president

Dean Foods COO also named company president

DALLAS — Dean Foods Co., the nation’s largest producer of milk, said Monday it has promoted its chief operating officer to president of the company.

Joseph Scalzo, 52, was named COO late last year. He will oversee Dean Foods’ operational turnaround and near-term strategic initiatives, the company said.

Dean Foods will pay Scalzo a base salary of $900,000 effective immediately, according to a Securities and Exchange Commission filing, and to increase his target annual incentive payment to 125 percent of his base salary from 100 percent.

The company will also give him the option to purchase 108,544 shares of common stock and 37,166 restricted stock units, which will vest in three installments over three years, starting a year from the Aug. 20 grant date.