Schwan Food Co.'s CEO Greg Flack, who has led the closely held company for the past five years, will step down effective Oct. 4.

The Marshall, Minn.-based packaged-food maker said that its board has conducted a search for a new CEO, and that person is expected "to be announced in the near future," the company said in a statement.

Flack, 49 years old, will also step down as president, chief operating officer and director. "We are grateful to Greg for his 26 years of leadership and service to the Schwan Food Co.," chairman Allan Schuman said in a statement.

The company is the maker of frozen food products like Red Baron pizza and Mrs. Smith's pies.