– CANADA, Toronto – SunOpta Inc. (Nasdaq:STKL | TSX:SOY), a leading global company focused on organic, non-genetically modified and specialty foods, today announced the termination of David J. Colo as President, Chief Executive Officer and as a member of SunOpta’s Board of Directors.
Current SunOpta Director Katrina L. Houde, a SunOpta director since 2000, will serve as Interim CEO to facilitate an orderly transition. The Board of Directors has formed a CEO search committee and has engaged an executive search firm to identify Mr. Colo’s successor.
“On behalf of the Board of Directors, I would like to thank David for his contributions to SunOpta and wish him well in his future endeavors,” said Dean Hollis, Chairman of the Board of Directors. “Over the last two years, the foundation of the Company has been strengthened, and SunOpta is now through the first phase of the Value Creation Plan. The Board is moving quickly to identify the next CEO who will accelerate our efforts to drive long-term, sustainable, shareholder value through the Value Creation Plan. In the interim, I am confident that our talented senior leadership team will continue to execute on our key strategic objectives.”
“I thank the Board for entrusting me with the Interim CEO role,” said Houde. “My 18 years as a director and my previous Interim CEO experience at SunOpta should help provide for a seamless transition. During the transition, the Board and I will take full advantage of available resources to continue our progress in the Company’s go-to-market strategy, process sustainability, and operational excellence initiatives.”
Added Hollis, “Since 2016, SunOpta has made substantial progress in its transformation. The Company has exited and sold unprofitable and non-core business lines, made significant investments in food safety and quality, and has returned the Company to growth. This meaningful advancement has been driven by the world-class team at SunOpta, and the Board and I are grateful for their continued efforts. In the next phase of our transformation, we intend to relentlessly drive growth and enhance productivity in our core Consumer Products platforms, while maintaining our leadership position in global organic ingredients sourcing. SunOpta remains well aligned with consumer trends towards organic and non-GMO foods, and the Board and I are confident in the Company’s long-term outlook.”
About SunOpta Inc.
SunOpta Inc. is a leading global company focused on organic, non-genetically modified and specialty foods. SunOpta specializes in the sourcing, processing and packaging of organic and non-GMO food products, integrated from seed through packaged products; with a focus on strategic vertically integrated business models. SunOpta’s organic and non-GMO food operations revolve around value-added grain, seed, fruit and vegetable-based product offerings, supported by a global sourcing and supply infrastructure.
For more information : http://www.sunopta.com
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