Thank you for the information and your question. The answer to your question really depends on the facts. Specifically whether or not you have ever signed a non-compete/non-solicitation agreement with the Company and also the type and size of your industry and what, if any, information you would use in starting your new business that you gained from employment as the Company President for your current employer.
It is doubtful that your current employer will just let this go without a legal fight since you are going to be, I assume, a competitor. So, even if you have not signed one of the agreements I mentioned above, they may try to claim that you will be using proprietary information of the Company in your new endeavor and that would lead to litigation over stolen proprietary information.
For example, using the Company's customer list, recipes or other intellectual property, as well as processes, could lead to the litigation I mentioned to name a few. I would highly recommend that you sit down with a business attorney when putting together your plan and have them review the resources you will be using in your new business to ensure that there is no issue of violation of the Company's proprietary information.
Please feel free to ask for clarification if needed. If none is needed, then if you could take a moment to leave a positive rating in the box above, I will receive credit for assisting you today. Thank you