Landec nominates Jeffery Edwards, Patrick Walsh and Josh Schechter for upcoming election to its Board of Directors

– USA, CA –  Landec Corporation (Nasdaq: LNDC), a diversified health and wellness Company with two operating businesses, Curation Foods, Inc. and Lifecore Biomedical, Inc., today announced the nomination of three new members to serve on its Board of Directors for consideration at the Company’s 2020 Annual Meeting of Stockholders.

The new nominees to the Board include Jeffery Edwards, Patrick Walsh and Joshua Schechter, each of whom the Board of Directors believes will greatly contribute to the diversity and expertise of the Board.

”As our nominations make clear, we are focused on accelerating growth at Lifecore, adding new directors who enrich the business with robust life sciences expertise. They bring a new and complementary depth of knowledge and proven track records of success that we believe will be of great value to Landec as we drive sustainable, profitable growth across our diverse business segments,” said Board Chair Andrew Powell.

In connection with these nominations, Frederick Frank, who has served as a member of the Board since 1999, has decided not to stand for re-election to the Board at the Annual Meeting.

“The Board of Directors recognizes and appreciates Fred’s more than 20 years of service to Landec,” commented Mr. Powell. “Fred’s expertise and industry experience have been invaluable to Landec, and it has been an honor and a pleasure to serve with him.”

As a result, if the new nominees are elected, the Board would be comprised of 12 members, eight of whom will have joined the Board in the last 14 months.

Life Science Expertise

  • Andrew Powell, Retired Executive Vice President and General Counsel, Medivation, LLC
  • Catherine A. Sohn, Pharm.D., Retired Senior Vice President, GlaxoSmithKline plc
  • Jeffery L. Edwards, Retired CFO, Allergan
  • Patrick D. Walsh, Former CEO, TriPharm Services

Consumer Packaged Goods Expertise

  • Albert Bolles, Ph.D., President and CEO, Landec Corporation
  • Deborah Carosella, Retired CEO, Madhava Natural Sweeteners
  • Katrina L. Houde, Retired CEO, SunOpta, Inc

Financial, Strategic and Governance Expertise

  • Nelson Obus, Managing Member, Wynnefield Capital Management, LLC
  • Craig Barbarosh, Director and Partner, Katten Muchin Rosenman LLP
  • Charles Macaluso, Principal, Dorchester Capital Advisors, LLC
  • Tonia Pankopf, Managing Partner, Pareto Advisors, LLC
  • Joshua E. Schechter, Former Co-President, Steel Partners Japan Asset Management

“This year has been transformational for Landec, and while our diverse business segments operate at different stages of growth, we continue to create shareholder value by supporting and accelerating growth at Lifecore and transforming Curation Foods for profitable growth,” said President and CEO, Dr. Albert Bolles. “Putting the right people in the right positions has been an important guiding principle of this work. Today’s announcement continues the refreshment of our Board and management team, which has been ongoing for over a year. We believe these changes will further rebalance our management to better serve the differentiated needs of Lifecore and Curation Foods, enhance the distinct value of each business and position the company overall for success.”

Chris Kiper, Co-Founder and Managing Director of Legion Partners Asset Management, said, “Landec has a valuable collection of businesses with enormous potential. We are pleased to have engaged with the Board to reach a resolution that adds a new independent director who will help the Company navigate the current market conditions and pursue our shared goal of significantly enhancing shareholder value.”

About Jeffery L. Edwards

In 2015, Mr. Edwards retired from Allergan, Inc. after 22 years and where he served as EVP, Finance and Business Development and CFO from September 2005 to August 2014. Mr. Edwards is a member of the board of directors of FibroGen, Inc., a publicly-traded biopharmaceutical company, serves on the board of directors of Bio-Rad Laboratories, Inc., a publicly-traded life sciences research and clinical diagnostic products company, and also serves on the board of directors of Clearside Biomedical Inc., a publicly-traded, clinical-stage pharmaceutical company.

Additionally, Mr. Edwards serves on the board of directors of BioTheryX, Inc., a privately owned, clinical-stage biotechnology company.

Mr. Edwards received a B.A. in Sociology from Muhlenberg College and completed the Advanced Management Program at the Harvard Business School.

About Patrick D. Walsh

He the founder and Chairman of Diligence Group, LLC, a consulting practice serving clients in the healthcare industry. He currently serves as an Operating Partner at Ampersand Capital Partners, a private-equity healthcare investment firm. Mr. Walsh currently serves as Chairman of the board of directors of ANI Pharmaceuticals, Inc., a publicly-traded specialty pharmaceutical company, since June 2018. He also currently serves on the board of directors of Industria Chimica Emiliana, S.p.A., a privately-held specialty API supplier to the pharmaceutical industry based in Milan, Italy. Mr. Walsh also currently serves as a director for Avid Bioservices, Inc. since October of 2017.

Mr. Walsh holds a degree in General Studies from Lewis & Clark College.

About Joshua E. Schechter

Mr. Schechter has served as a member of the board of directors of Bed Bath & Beyond since May of 2019. Mr. Schechter has also served as Chairman of the board of directors of SunWorks, Inc., a premier provider of high-performance solar power solutions, since May 2018, Viad Corp, an S&P SmallCap 600 international experiential services company, since April 2015, and a director of Support.com, Inc., a leading provider of cloud-based software and services, since June 2016.

Mr. Schechter earned an MPA in Professional Accounting and a BBA from The University of Texas at Austin.

About Landec Corporation

Landec Corporation is a leading innovator of diversified health and wellness solutions with two operating businesses: Curation Foods, Inc. and Lifecore Biomedical, Inc. Landec designs, develops, manufactures, and sells products for the food and biopharmaceutical industry. Curation Foods is focused on innovating and distributing plant-based foods with 100% clean ingredients to retail, club and foodservice channels throughout North America. Curation Foods is able to maximize product freshness through its geographically dispersed family of growers, refrigerated supply chain and patented BreatheWay packaging technology. Curation Foods brands include Eat Smart fresh packaged vegetables and salads, O Olive Oil & Vinegar premium artisan products, and Yucatan and Cabo Fresh avocado products. Lifecore Biomedical is a fully integrated contract development and manufacturing organization that offers highly differentiated capabilities in the development, fill and finish of sterile, injectable pharmaceutical products in syringes and vials. As a leading manufacturer of premium, injectable grade Hyaluronic Acid, Lifecore brings 35 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market.

For more information: https://landec.com/

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.

Talent4Boards Team

here the original post =>