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October 24, 2019

Canada’s Daiya Foods announces Michael Watt as new CEO

Daiya Foods, the Canadian plant-based food manufacturer owned by Japan's Otsuka Pharmaceuticals, has announced the appointment of a new CEO.

By Leonie Barrie

Daiya Foods, the Canadian plant-based food manufacturer owned by Japan’s Otsuka Pharmaceuticals, has announced the appointment of Michael Watt as its new CEO.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

Watt brings more than 15 years of global experience as a CEO and general manager directing operations throughout Australia, New Zealand, Asia Pacific and the US. His background includes senior leadership roles in large food businesses including Mars and Campbell Soup Co.

He replaces Terry Tierney who retired last year. After Tierney’s departure, chief marketing officer Michael Lynch had filled the CEO on an interim basis. According to Lynch’s LinkedIn page, he has left the business.

Bill McHale, chairman of the company’s board of directors, said: “After an exhaustive search with many experienced and talented applicants, we feel strongly that Michael is the right person to successfully lead Daiya into the future.

“In a market place of increasing competition and complexity, we are confident that his global experience combined with his innovative mindset and strong leadership skills will position Daiya as a leading plant-based brand in our industry.”

As CEO, Watt will lead all global operations for Daiya throughout North America and its continued international expansion. 

Daiya will be moving its operations to a new 400,000 sq-ft facility this year.

Watt said: “Our commitment to delighting consumers with great-tasting, high-quality, innovative products creates a significant opportunity for Daiya to positively impact people and the planet through our performance. Daiya is committed to changing the way our world eats as a leader in plant-based foods.”

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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