GreenSpace Manufacturers – new CEO named
Canadian plant-based meals group GreenSpace Manufacturers has named Dole Meals Co. government Shawn Warren as its new CEO and president.
Warren replaces Paul Henderson who has been serving as interim CEO since final July and says he’s trying ahead to addressing the “challenges” dealing with the enterprise which noticed its revenues lower by 27.9% in its fiscal yr 2020.
He’s an skilled meals trade government having beforehand labored in senior roles in North America and Asia. He has been president of Asia packaged meals at Dole and senior vp technique, Asia-Pacific at Mondelez Worldwide.
Warren, who takes up the function on Monday (5 April), has additionally led numerous companies for Kraft Canada.
Henderson, talking on behalf of Toronto-based GreenSpace’s board of administrators, mentioned: “We’re thrilled with Shawn’s resolution to affix and lead GreenSpace into the long run and we place confidence in him and his skills to set a trajectory for our firm that delivers the worth that our shareholders are on the lookout for.”
Henderson will resign his place as government chairman however will function chair of the board of administrators.
Warren mentioned: “Over my profession so far, I’ve targeted on driving worthwhile development and creating shareholder worth with sensible investments in an organization’s current manufacturers whereas shortly eliminating complexity and prices. I’m assured that we’ll realise GreenSpace’s strategic goals, ship sustained worthwhile development and create great worth for the enterprise.
“I sit up for shortly addressing the challenges dealing with the enterprise at this time and I sit up for working intently with the GreenSpace crew to set and ship a path ahead that can improve worth for customers, clients and for all shareholders.”
GreenSpace manufactures predominately plant-based meals merchandise throughout the pure and natural segments.
It owns Love Youngster Organics, which makes natural meals for infants and toddlers, Central Roast, a “clear snacking” model targeted on nut and seed mixes and plant-based alt-dairy model Go Veggie.
In January final yr GreenSpace Manufacturers mentioned it deliberate to promote shares through a non-public placement and restructure its debt following a five-month strategic evaluation course of.
Henderson’s interim CEO appointment was introduced in July following the resignation of Matt von Teichman.
In September the corporate introduced it had restructured its debt, renegotiating the phrases of its mortgage with Major Capital and getting into into a brand new credit score facility with Pivot Monetary.
In October, GreenSpace reported annual monetary outcomes that confirmed income of CAD49.1m (US$39m), a 27.9% lower over the prior yr.
Final month, accounts for the corporate’s newest monetary yr included a 39% fall in third-quarter revenues to CAD6.9m. Adjusted EBITDA was CAD2.2m, down from CAD3.7m 12 months earlier.