Vital Farms Announces Chief Financial Officer Transition
17 12월 2020 - 11:00PM
Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a
range of ethically produced pasture-raised foods nationwide, today
announced that Bo Meissner will transition to Chief Financial
Officer (CFO) on December 28, 2020. Meissner, a finance executive
with more than 30 years of experience in consumer packaged goods,
joined the company in July 2020 as Executive Vice President,
Finance. In his role as CFO, Meissner will lead the company’s
finance organization and be responsible for the accounting,
treasury, financial planning and analysis, information technology,
and investor relations functions. Jason Dale, who currently serves
as Chief Operating Officer (COO) and CFO, will continue to serve as
COO, overseeing day-to-day operations and ongoing expansion as the
company scales.
“Since joining Vital Farms earlier this year, Bo has led a
number of strategic projects as we began operating as a publicly
traded company,” said Russell Diez-Canseco, President and CEO,
Vital Farms. “He brings an extensive background in leading
corporate finance and strategy for multinational and smaller
high-growth companies within the consumer food space, as well as a
proven passion for ethically sourced food and I am confident that
Bo will have a significant impact on our business as we pursue our
next phase of growth.”
“We are incredibly grateful to Jason for his many contributions
as CFO, most notably in guiding our financial performance over the
past year,” Diez-Canseco continued. “As he continues to serve as
our COO, Jason will play a critical role in scaling our supply
chain as we focus on increasing our category leadership while
continuing to deliver on our mission to bring ethical food to the
table.”
Meissner joined Vital Farms from NatureSweet, a mission-driven
produce company where he led the company through a significant
phase of growth as CFO and a Board Member. Prior to NatureSweet,
Meissner served as Senior Vice President of Finance and Treasury
for Boulder Brands, one of the largest natural consumer packaged
food companies in the U.S. He also served as Vice President of
Finance for Cadbury Schweppes Americas Beverages, where he was the
commercial finance leader of the non-carbonated beverage business.
Meissner began his career at Procter & Gamble where he held
multiple finance and accounting roles in the United
States, Canada, and Europe over twelve years. Meissner
received an undergraduate degree in Science from Carleton
University in Ottawa, Canada and an M.B.A. from Queen’s University
in Kingston, Canada.
About Vital FarmsVital Farms, a
Certified B Corporation, offers a range of ethically produced
pasture-raised foods nationwide. Started on a single farm in
Austin, Texas, in 2007, Vital Farms is now a national consumer
brand that works with approximately 200 small family farms and is
the leading U.S. brand of pasture-raised eggs and butter by retail
dollar sales. Vital Farms' ethics are exemplified by its focus on
the humane treatment of farm animals and sustainable farming
practices. In addition, as a Delaware Public Benefit Corporation,
Vital Farms prioritizes the long-term benefits of each of its
stakeholders, including farmers and suppliers, customers and
consumers, communities and the environment, and crew members and
stockholders. Vital Farms' pasture-raised products, including shell
eggs, butter, hard-boiled eggs, ghee, egg bites and liquid whole
eggs, are sold in approximately 16,000 stores nationwide.
Forward Looking StatementsThis
press release and the earnings call referencing this press release
contain “forward-looking” statements, as that term is defined under
the federal securities laws, including but not limited to
statements regarding Vital Farms’ anticipated future growth and
plans to scale its supply chain. These forward-looking statements
are based on Vital Farms’ current assumptions, expectations and
beliefs and are subject to substantial risks, uncertainties,
assumptions and changes in circumstances that may cause Vital
Farms’ actual results, performance or achievements to differ
materially from those expressed or implied in any forward-looking
statement.
The risks and uncertainties referred to above
include, but are not limited to: (1) the effects of the current
COVID-19 pandemic, or of other global outbreaks of pandemics or
contagious diseases or fear of such outbreaks, including on Vital
Farms’ supply chain, the demand for Vital Farms’ products, and on
overall economic conditions and consumer confidence and spending
levels; (2) Vital Farms’ expectations regarding its revenue,
expenses and other operating results; (3) Vital Farms’ ability to
acquire new customers and successfully retain existing customers;
(4) Vital Farms’ ability to attract and retain its suppliers,
distributors and co-manufacturers; (5) Vital Farms’ ability to
sustain or increase its profitability; (6) Vital Farms’ ability to
procure sufficient high quality eggs, butter and other raw
materials; (7) real or perceived quality or health issues with
Vital Farms’ products or other issues that adversely affect its
brand and reputation; (8) changes in the tastes and preferences of
Vital Farms’ consumers; (9) the financial condition of, and Vital
Farms’ relationships with, its suppliers, co-manufacturers,
distributors, retailers and foodservice customers, as well as the
health of the foodservice industry generally; (10) the ability of
Vital Farms’ suppliers and co-manufacturers to comply with food
safety, environmental or other laws or regulations; (11) future
investments in Vital Farms’ business, its anticipated capital
expenditures and its estimates regarding its capital requirements;
(12) the costs and success of Vital Farms’ marketing efforts, and
Vital Farms’ ability to promote its brand; (13) Vital Farms’
reliance on key personnel and its ability to identify, recruit and
retain skilled personnel; (14) Vital Farms’ ability to effectively
manage its growth; (15) Vital Farms’ focus on a specific public
benefit purpose and producing a positive effect for society may
negatively influence its financial performance; (16) Vital Farms’
ability to compete effectively with existing competitors and new
market entrants; (17) the impact of adverse economic conditions;
(18) the sufficiency of Vital Farms’ cash to meet its liquidity
needs and service its indebtedness; (19) seasonality; and (20) the
growth rates of the markets in which Vital Farms competes.
These risks and uncertainties are more fully
described in Vital Farms’ filings with the Securities and Exchange
Commission, including in the section entitled “Risk Factors” in its
quarterly report on Form 10-Q for the fiscal quarter ended
September 27, 2020 and other filings and reports that Vital Farms
may file from time to time with the SEC. Moreover, Vital Farms
operate in a very competitive and rapidly changing environment. New
risks emerge from time to time. It is not possible for management
to predict all risks, nor can Vital Farms assess the impact of all
factors on its business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements
Vital Farms may make. In light of these risks, uncertainties and
assumptions, Vital Farms cannot guarantee future results, levels of
activity, performance, achievements, or events and circumstances
reflected in the forward-looking statements will occur.
Forward-looking statements represent Vital Farms’ beliefs and
assumptions only as of the date of this press release. Vital Farms
disclaims any obligation to update forward-looking statements
except as required by law.
CONTACT:Media:Nisha
DevarajanNisha.Devarajan@vitalfarms.com
Investors: Ashley
DeSimoneAshley.DeSimone@icrinc.com
Vital Farms (NASDAQ:VITL)
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