Boulder Brands, Inc. announced that Steve Hughes has resigned as Chief Executive Officer and as a member of the Boulder Brands Board of Directors effective immediately. The Boulder Brands Board of Directors has appointed James B. Leighton, the Company's Chief Operating Officer, to serve as Interim CEO, effective immediately. Mr. Leighton has served as Chief Operating Officer since October 2013 and has been a member of the Boulder Brands Board of Directors since August 2007.

"On behalf of the Board and entire Boulder Brands team, I want to thank Steve for his contributions to the creation, development and growth of the Company," said Dean Hollis, Chairman of the Boulder Brands Board of Directors. "Steve's passion and vision for Boulder Brands has helped our industry improve the lives of consumers by providing healthier and more transparent food options. Under his leadership, Boulder Brands, which began as a food industry acquisition vehicle, has grown into a leading publicly traded natural consumer packaged food company with a strong portfolio of relevant health and wellness brands."

Mr. Hollis continued, "The Board believes now is the time for new leadership at Boulder Brands. This change, along with the evolving dynamics of our industry, gives us confidence that we are well-positioned to leverage customer and consumer desires for authentic and scalable natural brands to deliver sustainable results and generate meaningful value creation.

We are confident that Jim Leighton, a highly respected executive with decades of leadership experience across the industry, including at Perdue Foods, ConAgra, The Hain-Celestial Group and Nabisco, will provide the immediate leadership necessary to deliver on our commitments to our key stakeholders. Jim has significant and diverse operational and business experience, and has been a valuable member of our management team in his role as COO during the past two years and as a member of our Board since 2007. Jim and I will be actively involved in the Company's operations and strategy during this interim period and we look forward to working closely with the rest of the management team to meet our commitments."

"Since co-founding Boulder Brands nearly 10 years ago, I have had the pleasure of working with the most talented employees and management team in the industry," said Mr. Hughes. "As Boulder Brands enters a new period of development, I believe now is the right time for a leadership transition. It has been exciting to watch a simple idea turn into a leading natural foods company with the scale and resources to expand our mission of making people's lives healthier all across the country. I am proud of what we have created together. I am confident that I am leaving the Company in excellent hands with Jim and our strong management team, and I look forward to watching the next phase in the evolution of this great company."

"I have been fortunate to have had great experiences and gained valuable insights working with a variety of respected leaders over the years. I look forward to leading the Company and this transition as Interim CEO," said Mr. Leighton. "Boulder Brands has a solid foundation on which to build, and an excellent team in place that is well equipped to take the necessary steps to drive change and deliver reliable, sustainable results. I am committed to working closely with the Board, management team and our talented employees to deliver on our operational initiatives and commitments as we execute on our top priorities. We have great brands in great categories that offer food solutions that retailers are seeking. One critical objective is to refocus our spending priorities towards consumer marketing programs that will more effectively introduce our brands to a broader base of consumers and better support these brands as distribution gains continue."