Calavo Growers Board of Directors Appoints Lee E. Cole as President and Chief Executive Officer
13 Mars 2023 - 2:15PM
Calavo Growers, Inc. (Nasdaq:
CVGW) (“Calavo” or the “Company”), a global
avocado-industry leader and provider of convenient, ready-to-eat
fresh food, today announced that Lee E. Cole is returning to lead
Calavo as President and Chief Executive Officer, effective
immediately. Mr. Cole has agreed to lead the Company for three
years with the goal of returning the company to a position of
growth and shareholder value creation. Mr. Cole succeeds Brian W.
Kocher, who has stepped down from his role.
Mr. Cole served as Calavo’s President and Chief Executive
Officer from 1999 until his retirement on January 31, 2020. He
served as a Director of Calavo for 39 years, 28 as Chairman of the
Board.
“On behalf of Calavo and all of our employees, we thank Brian
for all his efforts and wish him success in his future endeavors,”
said Steven Hollister, Chairman of the Board of Calavo. “We would
also like to welcome back Lee Cole as President and CEO. Lee was
responsible for bringing Calavo into the public market and making
it one of the largest avocado companies in the world. His knowledge
of the avocado business is second to none, and we anticipate great
things for the Company and our employees as we move forward.”
“I am honored to be asked to lead Calavo once again and look
forward to generating value for our shareholders,” Mr. Cole
said.
About Calavo Growers, Inc.Calavo Growers, Inc.
(Nasdaq: CVGW) is a global leader in quality produce, including
avocados, tomatoes and papayas, and a pioneer of healthy fresh-cut
fruit, vegetables and prepared foods. Calavo products are sold
under the trusted Calavo brand name, proprietary sub-brands,
private label and store brands.
Founded in 1924, Calavo has a rich culture of constant
innovation, sustainable practices and market growth. The company
serves retail grocery, foodservice, club stores, mass
merchandisers, food distributors and wholesalers worldwide. Calavo
is headquartered in Santa Paula, California, with processing plants
and packing facilities throughout the U.S. and Mexico. Learn more
about The Family of Fresh™ at calavo.com.
Safe Harbor Statement This press release
contains statements relating to future events and results of Calavo
(including shareholder value creation) that are "forward-looking
statements," as defined in the Private Securities Litigation Reform
Act of 1995, that involve risks, uncertainties and assumptions.
These statements are based on our current expectations and are not
promises or guarantees. If any of the risks or uncertainties ever
materialize or the assumptions prove incorrect, the results of
Calavo may differ materially from those expressed or implied by
such forward-looking statements and assumptions. The use of words
such as "anticipates," "estimates," "expects," "projects,"
"intends," "plans" and "believes," among others, generally identify
forward-looking statements. Risks and uncertainties that may cause
our actual results to be materially different from any future
results expressed or implied by the forward-looking statements
include, but are not limited to, the following: the ability of our
new management team to work together successfully, the impact of
operational and restructuring initiatives on our business, results
of operations, and financial condition, including uncertainty as to
whether the desired effects will be achieved; the impact of the
COVID-19 pandemic on our business, results of operations, and
financial condition, including, but not limited to, disruptions in
the manufacturing of our products and the operations of the related
supply chains supporting our ability to deliver our products to
consumers, impacts on our employees and uncertainty regarding our
ability to implement health and safety measures for our employees,
uncertainties regarding consumer demand for our products, impact on
our foodservice customers, increased costs, the impact of
governmental trade restrictions imposed as a result of COVID-19 and
the possible adverse impact of COVID-19 on our goodwill and other
intangible assets; our ability to raise prices, particularly in our
Prepared segment, to offset increases in costs of goods sold, and
the impact of such price increases on future net sales; seasonality
of our business; sensitivity of our business to changes in market
prices of avocados and other agricultural products and other raw
materials including fuel, packaging and paper; potential
disruptions to our supply chain; risks associated with potential
future acquisitions, including integration; potential exposure to
data breaches and other cyber-attacks on our systems or those of
our suppliers or customers; dependence on large customers;
dependence on key personnel, and access to labor necessary for us
to render services; susceptibility to wage inflation; potential for
labor disputes; reliance on co-packers for a portion of our
production needs; competitive pressures, including from foreign
growers; risks of recalls and food-related injuries to our
customers; changing consumer preferences; the impact of
environmental regulations, including those related to climate
change; risks associated with the environment and climate change,
especially as they may affect our sources of supply; our ability to
develop and transition new products and services and enhance
existing products and services to meet customer needs; risks
associated with doing business internationally (including possible
restrictive U.S. and foreign governmental actions, such as
restrictions on transfers of funds and COVID-19 and trade
protection measures such as import/export/customs duties, tariffs
and/or quotas and currency fluctuations); risks associated with
receivables from, loans to and/or equity investments in
unconsolidated entities; volatility in the value of our common
stock; the impact of macroeconomic trends and events; and the
resolution of pending investigations, legal claims and tax
disputes, including an assessment imposed by the Mexican Tax
Administrative Service (the “SAT”) and our defenses against
collection activities commenced by the SAT.
For a further discussion of these risks and uncertainties and
other risks and uncertainties that we face, please see the risk
factors described in our most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission and any
subsequent updates that may be contained in our Quarterly Reports
on Form 10-Q and other filings with the Securities and Exchange
Commission. Forward-looking statements contained in this press
release are made only as of the date of this press release, and we
undertake no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor
Contact |
Media
Contact |
Julie Kegley, Senior Vice
President |
Thomas Federl, VP Communications,
Marketing & ESG |
Financial Profiles, Inc. |
Calavo Growers, Inc. |
calavo@finprofiles.com |
Thomas.Federl@calavo.com |
310-622-8246 |
843-801-4174 |
Calavo Growers (NASDAQ:CVGW)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Calavo Growers (NASDAQ:CVGW)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024