Blue Buffalo names new CEO, posts third-quarter sales increase

Billy Bishop, co-founder of Wilton-based Blue Buffalo Pet Products Inc., will become the firm”™s new CEO on Jan. 1, replacing retiring CEO Kurt Schmidt. The son of Blue Buffalo co-founder and chairman Bill Bishop, the younger man is currently president and chief operating officer.

“Passing the baton to Billy has always been part of our succession plan,” said Schmidt, who will remain with the company through the transition.

“It”™s a real honor to lead the company my family and I founded in the back of a barn many years ago,” Billy Bishop said. “I look forward to continuing our growth and success for years to come.”

Along with that announcement came word that Blue Buffalo posted third-quarter net sales of $288 million, an 11 percent increase on a year-over-year basis. Net income of $21 million was down 20.6 percent; adjusted income was $45 million, up 32.3 percent. Gross profit increased $24.9 million or 23 percent to $133.2 million.