SunOpta Announces CEO Retirement and Appoints Brian W. Kocher as Successor
07 December 2023 - 12:00AM
Business Wire
Reaffirms Outlook for Q4 2023 and 2024
SunOpta Inc. (“SunOpta” or the “Company”) (Nasdaq:STKL)
(TSX:SOY), a U.S.-based global pioneer fueling the future of
sustainable, plant-based foods and beverages, today announced the
planned retirement of Joseph D. Ennen. After five years of
dedicated service, Mr. Ennen will retire from SunOpta as its Chief
Executive Officer and director on SunOpta’s Board of Directors (the
“Board”).
The Board has appointed Brian W. Kocher as the new Chief
Executive Officer, effective January 2, 2024. In conjunction with
this appointment, Mr. Kocher will also become a member of the
Board. Mr. Kocher brings a wealth of experience in manufacturing
intensive businesses in complex, multi-national organizations and
has a strong track record of driving growth and productivity
improvements. Brian previously served as President and Chief
Executive Officer of both Calavo Growers Inc., a global
avocado-industry leader and provider of convenient, ready-to-eat
fresh food and Castellini Group of Companies, a nationwide produce
distribution and supply chain service organization, as well as
interim Chief Executive Officer of Chiquita. The Board is confident
in Mr. Kocher’s ability to lead SunOpta through its next phase of
growth and his experience expanding margins and driving operational
productivity will be incredibly valuable to the business. To ensure
a seamless transition, which the Board believes is in the best
interests of all stakeholders, Mr. Ennen will continue as an
advisor to the Board and Mr. Kocher until April 1, 2024.
“On behalf of the entire Board, I want to thank Joe for his
invaluable leadership of SunOpta over the past five years," said
Dean Hollis, Chair of SunOpta's Board. “Joe's vision and tireless
commitment to the success of the Company led to a complete
portfolio transformation and solidified our balance sheet,
strengthening SunOpta’s competitive position and creating a
powerful foundation to support an even brighter future. It has been
a privilege to work with Joe and we wish him the absolute best in
his retirement. With Joe's support, we were thrilled to find Brian
and are confident he is the right leader to continue the Company's
strategy to deliver significant long-term sustainable growth and
value for shareholders.”
"It has been an honor to serve as CEO of SunOpta during this
period of transformative growth and I especially want to thank the
SunOpta team for their passion, hard work and dedication,” said
Ennen. “I believe the Company is well positioned for its next phase
of growth with a current portfolio that has demonstrated steady
long-term increases in volume, revenue and Adjusted EBITDA. We are
reaffirming our Q4 outlook and 2024 forecast to further reflect our
confidence in the future. Brian's deep food industry expertise,
coupled with his shared values and commitment to furthering our
purpose, make him the right leader to continue to drive growth and
optimize our network. I look forward to working closely with Brian
during this transition and I have the utmost confidence that his
leadership will inspire the continued growth and mission of
SunOpta.”
Mr. Kocher commented, “I am thrilled to serve as SunOpta's next
CEO and would like to thank Joe and the Board for entrusting me to
lead the Company as we enter this new chapter. Joe has set a strong
foundation for SunOpta's growth and success, and I'm excited to
continue this momentum by working toward our collective mission of
fueling the future of food.”
Brian W. Kocher Biography
Brian W. Kocher served as President, Chief Executive Officer of
Calavo Growers Inc., a global avocado-industry leader and provider
of convenient, ready-to-eat fresh food with 3,200 employees in the
United States and Mexico, from January 2022 to February 2023.
Before joining Calavo, Mr. Kocher was President and Chief Executive
Officer of Castellini Group of Companies, a nationwide produce
distribution and supply chain services organization, from May 2015
to January 2022. Prior to Castellini, Mr. Kocher spent ten years at
Chiquita Brands International, Inc., including as Interim Chief
Executive Officer, EVP and Chief Operating Officer, SVP and Chief
Financial Officer, President of Europe, President of North America,
and Vice President, Controller and Chief Accounting Officer. Mr.
Kocher graduated from Ohio University in Athens, Ohio with a
Bachelor of Business Administration (Accounting) degree.
About SunOpta Inc.
SunOpta (Nasdaq:STKL) (TSX:SOY) is a U.S.-based, global pioneer
fueling the future of sustainable, plant-based food and beverages.
Founded more than 50 years ago, SunOpta manufactures natural,
organic and specialty products sold through retail and foodservice
channels. SunOpta operates as a manufacturer for leading natural
and private label brands, and also proudly produces its own brands,
including SOWN ®, Dream®, and West Life™. For more information,
visit www.sunopta.com and LinkedIn.
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Investor Relations: Reed Anderson ICR 646-277-1260
reed.anderson@icrinc.com
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